Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Is This Wall Street Titan Hunting Fund Firms? Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, December 09, 2020

Is This Wall Street Titan Hunting Fund Firms?

News summary by MFWire's editors

The high-profile chief of a money center bank is on the hunt for fund firms. The publicly traded titan already has its own giant asset management arm, too.

Mary Callahan Erdoes
J.P. Morgan
CEO of Asset and Wealth Management
Jamie Dimon, CEO of JPMorgan Chase, speaking yesterday at an annual Goldman Sachs financial services conference, urged even competing investment bankers to bring M&A ideas to him in a variety of areas, including asset management, Bloomberg reports. He praised a rival banking behemoth for its recent deals (which include a huge asset management acquisition) and confirmed why he's interested in asset managers.

"So asset management, my line is open," Dimon reportedly said. "It's a scaled business. It's a distribution business. It's a brand business. It's got to make sense."

J.P. Morgan already has its own asset management arm, J.P. Morgan Asset Management (JPMAM). Asset and wealth management (which includes JPMAM) had $2.595 trillion in AUM as of September 30, 2020, plus another $917 billion in AUA. The unit brought in $877 million in net income in Q3 2020. (That's about 9.3 percent of JPMorgan Chase's total net income.) 

Edited by: Neil Anderson, Managing Editor


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use