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JPMorgan Chase CEO Says Fintech is an 'Enormous Competitive' Threat To Banks

Jamie Dimon, JPMorgan Chase chairman and CEO, listed fintech as one of the "enormous competitive threats" to banks in his annual shareholder letter released this week. From a report: "Banks ... are facing extensive competition from Silicon Valley, both in the form of fintechs and Big Tech companies," like Amazon, Apple, Facebook, Google and Walmart, Dimon wrote, and "that is here to stay." Fintech companies, in particular, "are making great strides in building both digital and physical banking p...
Tags: Tech, Paypal, Silicon Valley, Fintech, Jamie Dimon, Amazon Apple Facebook Google, Dimon, JPMorgan Chase CEO Says Fintech, Walmart Dimon


Why one of Wall Street's titans is on the side of the tax reformers - and maybe Joe Biden and Janet Yellen

JPMorgan CEO Jamie Dimon. Getty Images An "extraordinary number" of loopholes help the rich but not the US economy, JPMorgan CEO Jamie Dimon said. Dimon echoes the pitch from the Biden administration to pay for a massive infrastructure and jobs program. Dimon, who mainly donates to Democrats, has long been rumored as a potential Treasury Secretary but has passed on the job. See more stories on Insider's business page. Tax policy has taken center stage in recent weeks. President Joe Bid...
Tags: US, Barack Obama, Trends, Joe Biden, Treasury, Warren Buffett, Janet Yellen, Biden, Donald Trump, Jamie Dimon, Cnbc, Jpmorgan, Dimon, Ben Winck, Jamie Dimon Getty


Jamie Dimon Says Competitive Threats Are Eroding Banking’s Future

Chase CEO says without a 'level playing field' traditional institutions will see their role shrink under attack from multiple directions. The post Jamie Dimon Says Competitive Threats Are Eroding Banking’s Future appeared first on The Financial Brand.
Tags: Apple, Google, Amazon, Facebook, Finance, Walmart, Spotlight, Fintech, Jamie Dimon, JPMorgan Chase, Dimon, Strategic Planning, Big Tech, Culture & Leadership, Featured Content


JPMorgan CEO Jamie Dimon says the US faces 7 major hurdles to economic growth, including high healthcare costs and income inequality

Jamie Dimon, CEO of JPMorgan Chase Brian Snyder/Reuters Jamie Dimon said the US must address policy problems to ensure economic growth. The JPMorgan CEO said healthcare and education help ensure the US dollar remains strong. Former president Donald Trump fell short on his promise to increase annual GDP growth to 3%. See more stories on Insider's business page. JPMorgan Chase chief executive Jamie Dimon called for expanded healthcare and education access in his annual letter to sharehol...
Tags: Politics, News, US, America, Barack Obama, Trends, Joe Biden, Donald Trump, Jamie Dimon, Trump, Jpmorgan, JPMorgan Chase, Dimon, JPMorgan CEO, Allana Akhtar, Jamie Dimon annual letter to shareholders


JPMorgan CEO Jamie Dimon says the US economic boom could 'easily run into 2023'

KENA BETANCUR/AFP via Getty Images JPMorgan CEO Jamie Dimon said in his annual letter to shareholders that the US economic boom "could easily run into 2023." Dimon cited excess savings, new stimulus savings, deficit spending, and vaccine progress, among other economic drivers. He is especially bullish on the combination of fiscal and monetary stimulus being deployed in the US. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. JPMorgan CEO Jamie Dimon said in his la...
Tags: China, US, America, Trends, Ubs, International Monetary Fund, Federal Reserve, Jamie Dimon, Jpmorgan, Dimon, KENA BETANCUR, Bank of America Morgan Stanley, George Floyd, Getty Images JPMorgan, Opening Bell JPMorgan, Sophie Kiderlin Ben Winck


JPMorgan CEO Jamie Dimon says the bank will only need office capacity for 60% of employees post-pandemic

JPMorgan Chase CEO Jamie Dimon. Photo by SAUL LOEB/AFP via Getty Images JPMorgan CEO Jamie Dimon isn't planning a full office when his company ends remote work. "For every 100 employees, we may need seats for only 60 on average," he said in a letter to investors. As a result, Dimon said, "This will significantly reduce our need for real estate." Visit the Business section of Insider for more stories. When JPMorgan Chase employees return to the office, it's likely to look a lot more...
Tags: News, Finance, US, America, Trends, Remote Work, Manhattan, Jamie Dimon, Jpmorgan, JPMorgan Chase, Dimon, Saul Loeb, Ben Gilbert, Pandemic, Goldman Sachs Marcus, Coronavirus


JPMorgan CEO Jamie Dimon says bureaucracy is 'crippling' the US and hindering progress

Jamie Dimon, chairman and chief executive of JP Morgan Chase and Co, speaks at the 2012 Simon Graduate School of Business' New York City Conference in New York May 3, 2012. REUTERS/Keith Bedford REUTERS/Keith Bedford Small businesses are bogged down in a costly regulatory system, said JPMorgan CEO Jamie Dimon. The country must properly manage and review regulations to solve the problem, he said. "Very often local regulations are simply a form of low-level corruption," said the CEO. Se...
Tags: New York, News, Finance, US, Trends, Jamie Dimon, Federal Aviation Administration, Jpmorgan, JPMorgan Chase, Organization for Economic Co, Dimon, JPMorgan CEO, JP Morgan Chase and Co, Keith Bedford, Natasha Dailey, Jamie Dimon annual letter to shareholders


JPMorgan CEO blasts tax breaks for race cars and private jets - and says the write-offs need to stop

JPMorgan CEO Jamie Dimon said the US should get rid of tax breaks for horse racing, race cars, and golf courses. Mike Blake/Reuters JPMorgan CEO Jamie Dimon blasted tax breaks in his annual shareholder letter on Wednesday. Dimon proposed major tax reforms to promote growth and address income inequality. The comments come as President Biden proposes a corporate tax rate increase. See more stories on Insider's business page. The chief executive of Wall Street's biggest bank thinks t...
Tags: Amazon, Politics, News, Finance, Wall Street, US, Trends, Joe Biden, Biden, Tax Breaks, Jamie Dimon, Jpmorgan, Mike Blake, Dimon, Carried Interest, Reuters JPMorgan


JPMorgan Chase CEO Jamie Dimon says economic boom could 'easily run into 2023'

Dimon attributed the potential boom to consumer savings, a stimulus boost, Biden's infrastructure plan, successful vaccines and...
Tags: Biden, Jamie Dimon, JPMorgan Chase, Dimon


Jamie Dimon says economic boom fueled by deficit spending, vaccines could ‘easily run into 2023’

Dimon, 65, weighed in on a range of topics familiar to watchers of the country's most prominent banker.
Tags: Jamie Dimon, Dimon


Tim Cook condemned Georgia's new election law, the latest CEO speaking out on voter-suppression concerns

Tim Cook gave a speech from the Apple Park in California. Apple Apple CEO Tim Cook came out against Georgia's restrictive new voting law on Thursday. "It ought to be easier than ever for every eligible citizen to exercise their right to vote," he said. He is the latest CEO to speak out on voter-suppression concerns. See more stories on Insider's business page. Apple CEO Tim Cook has slammed Georgia's controversial new election law, joining the ranks of other CEOs who have done ...
Tags: Apple, Cook, California, US, Trends, Georgia, Joe Biden, Gop, New York Times, Tim Cook, Jp Morgan, Republican, Coca Cola, Jim Crow, Black, Quincey


Tim Cook condemned Georgia's new election law - he's just the latest CEO speaking out on voter-suppression concerns

Tim Cook gave a speech from the Apple Park in California. Apple Apple CEO Tim Cook spoke out Thursday against Georgia's restrictive new voting law. "It ought to be easier than ever for every eligible citizen to exercise their right to vote," he said. He is the latest CEO to speak out on voter-suppression concerns. See more stories on Insider's business page. Apple CEO Tim Cook has slammed Georgia's controversial new election law, joining the ranks of other CEOs who have done th...
Tags: Apple, Cook, California, US, Trends, Georgia, Joe Biden, Gop, New York Times, Tim Cook, Republican, Coca Cola, Jim Crow, Black, JPMorgan Chase, Bastian


JP Morgan Chase CEO Jamie Dimon defends voting rights following Georgia's new restrictive voting law

Mike Blake/Reuters JP Morgan Chase's CEO defended voting rights following Georgia's restrictive new voting law. See more stories on Insider's business page. JP Morgan Chase CEO Jamie Dimon publicly defended voting rights, following Georgia's new restrictive voting law, the Election Integrity Act of 2021. He was one of the first major business CEOs to speak out after the law was passed last week, according to CNN."We regularly encourage our employees to exercise their funda...
Tags: Politics, Trends, Georgia, Cnn, Speed, United States, Jp Morgan, Jamie Dimon, Jp Morgan Chase, Voting Rights, Jpmorgan, Mike Blake, Dimon, Georgia Election, Reuters JP Morgan Chase, Azmi Haroun


JPMorgan CEO Jamie Dimon's letter on anti-Asian hate is a great example of bold, anti-racist leadership

JPMorgan CEO Jamie Dimon pledged that the firm would look into ways to better support Asian and Pacific Islander communities. Getty/Win McNamee One day after six Asian women were killed in a shooting rampage, JPMorgan CEO Jamie Dimon sent a letter to all 255,000 of his employees. The letter condemned the spike in violence against the Asian and Pacific Island community. Public relations experts said the timing, tone, and content of the memo served as an example for other leaders looking to ...
Tags: Leadership, US, Trends, Strategy, Atlanta, Diversity, Evans, Api, Jamie Dimon, Jpmorgan, Brady, Pacific Island, Pacific Islander, Dimon, Jamie Read, Anti-racism


Dimon Condemns Racism Against Asian Americans After Shootings: Memo

(Reuters) - JPMorgan Chase & Co Chief Executive Officer Jamie Dimon on Wednesday told employees that racist acts against the global Asian and...
Tags: Jamie Dimon, REUTERS JPMorgan Chase Co, Dimon


The great divide: business leaders are split on long-term remote working. This is what Spotify, Twitter, Goldman Sachs, and others have announced so far.

Spotify employees. Jonathan Nackstrand/AFP/Getty Images Companies including Spotify, Twitter, and Goldman Sachs have taken different stances on remote work. A survey showed that 61% of respondents prefer a fully remote environment.  Insider spoke to experts to discuss the future of the workplace. Visit the Business section of Insider for more stories As economies prepare to reopen following the rollout of COVID-19 vaccinations, major companies are starting to reconsider their approach t...
Tags: Amazon, Twitter, Spotify, London, Washington Post, Trends, Goldman Sachs, Dell, Jack Dorsey, Wall Street Journal, Jamie Dimon, Cnbc, Reed Hastings, Dorsey, Tcs, Facebook Apple


The great divide: business leaders are split on long-term remote working. This is what Spotify, Twitter, Goldman Sachs, and others have announced.

Spotify employees. Jonathan Nackstrand/AFP/Getty Images Companies including Spotify, Twitter, and Goldman Sachs have taken different stances on remote work. A survey showed that 61% of respondents prefer a fully remote environment.  Insider spoke to experts to discuss the future of the workplace. Visit the Business section of Insider for more stories As economies prepare to reopen following the rollout of COVID-19 vaccinations, major companies are starting to reconsider their approach t...
Tags: Amazon, Twitter, Spotify, London, Washington Post, Trends, Goldman Sachs, Dell, Jack Dorsey, Wall Street Journal, Jamie Dimon, Cnbc, Reed Hastings, Dorsey, Tcs, Facebook Apple


Jamie Dimon says 'gangbuster' growth is in store for the US but too much fiscal stimulus is a risk

Jamie Dimon, Chairman & CEO of JP Morgan Chase & Co, speaks during the Bloomberg Global Business Forum in New York on September 25, 2019. (Photo by Kena Betancur / AFP) (Photo by KENA BETANCUR/AFP via Getty Images) Kena Betancur/AFP via Getty Images The US economy is on the verge of a rapid expansion this year and in 2022, said the billionaire head of JPMorgan Chase.  CEO Jamie Dimon said unemployed and small businesses "definitely need help" from US officials to cope with the COVID pandem...
Tags: New York, Congress, US, Trends, Markets, Bloomberg, Economy, House Of Representatives, US Senate, Biden, Donald Trump, Jamie Dimon, Stimulus, Checks, Rates, Jpmorgan


Biden, Harris, and Yellen met CEOs from Walmart, Gap, and others to discuss the $1.9 trillion stimulus deal and push for a $15 minimum wage

JPMorgan Chase CEO Jamie Dimon, President Joe Biden, Vice-president Kamala Harris, Walmart CEO Doug McMillon. Kena Betancur/AFP, Gage Skidmore, Alex Wong, Erika Goldring, all via Getty Images Biden, Harris, and Yellen discussed the $1.9 trillion COVID-19 relief plan with top business leaders. The CEOs of JPMorgan Chase, Walmart, Gap, Lowe's, and the Chamber of Commerce all attended. The US needs to prioritize both its healthcare and economic response to the pandemic, Biden said. Visit the ...
Tags: Politics, Senate, White House, US, Trends, Walmart, Joe Biden, Getty Images, House, Treasury, Janet Yellen, Gap, Biden, Donald Trump, Chamber of Commerce, Jamie Dimon


Do Fintechs Scare You As Much As They Do These CEOs?

Dismissing challengers in any form is a luxury no bank or credit union can afford any longer. But sound strategy beats sleepless nights. The post Do Fintechs Scare You As Much As They Do These CEOs? appeared first on The Financial Brand.
Tags: Google, Amazon, Finance, Fintech, Dimon, Digital Banking Strategies, Innovation Strategies, Strategic Planning, Big Tech, Culture & Leadership, Featured Content, Google Plex


JPMorgan's billionaire boss Jamie Dimon was again paid $31.5 million in 2020, having warned in 2019 that income equality was a 'huge problem'

JPMorgan Chase's CEO Jamie Dimon. Reuters JPMorgan's CEO Jamie Dimon earned $31.5 million from the baking giant in 2020, it announced on Thursday. He received a $1.5 million salary, $5 million cash bonus, and $25 million of restricted stock tied to performance. Dimon has repeatedly said that income inequality is a massive problem in the US. Visit Business Insider's homepage for more stories. JPMorgan's CEO Jamie Dimon, who in 2019 decried income inequality, was paid $31.5 million in 20...
Tags: US, America, Trends, Bloomberg, Joe Biden, Jp Morgan, Cbs, Donald Trump, Jamie Dimon, New Yorker, Cnbc, Trump, Reuters, Jpmorgan, JPMorgan Chase, Dimon


Inside JPMorgan's plans to boost wealth management, grow overseas, and battle fintech competition

JPMorgan CEO Jamie Dimon Business Insider JPMorgan is the biggest US bank by assets.  The firm has big plans for wealth management and international growth. Meanwhile, it's gearing up for a battle with fintechs. "I expect there to be very tough, brutal competition in the next 10 years," JPMorgan CEO Jamie Dimon said on Friday. "I expect to win. So help me, God." Visit Business Insider's homepage for more stories. JPMorgan is the biggest bank in the US and a bellwether for the global financ...
Tags: Apple, Google, Facebook, Asia, US, Trends, Bloomberg, Paypal, Chicago, Alibaba, Chase, Ohio, Getty, Morgan Stanley, Jamie Dimon, Blackrock


Jamie Dimon says JPMorgan Chase should absolutely be 'scared s---less' about fintech threat

Dimon's blunt assessment was in response to questioning from analysts who pointed out the rich, tech-like valuations of fintech players.
Tags: Jamie Dimon, Dimon


If this is what Wall Street calls taking a stand against insurrection, we're in trouble

Brendan Smialowski/AFP via Getty Images Wall Street has responded to the terrorist attack on the Capitol by blaming both sides, pausing donations to Republicans and Democrats. It is a craven act of self preservation. We know that the Republican Party is to blame for spreading the lies that sparked the violence and should be punished for that fact. Until we all have the courage to admit it, we are in danger of losing our democracy. This is an opinion column. The thoughts expressed are thos...
Tags: Congress, US, America, Trends, Joe Biden, United States, House, Republican Party, Morgan Stanley, Blackstone, Jamie Dimon, Steve, Trump, Capitol, Steve Schwarzman, Kevin McCarthy


Wall Street Elite — From Fink to Dimon to McCormick

“The peaceful transfer of power is the foundation of our democracy.”
Tags: Fink, McCormick, Dimon


'The market doesn't care who you are': 11 of JPMorgan CEO Jamie Dimon's best quotes

Jamie Dimon, CEO of JPMorgan Chase, takes part in a panel discussion about investing in Detroit at the Kennedy School of Government at Harvard University in Cambridge, Massachusetts, U.S., April 11, 2018. Brian Snyder/Reuters Jamie Dimon is best known for leading one of the big four American banks, JPMorgan Chase.Dimon frequently shares opinions on the world economy, politics, investing, and more.Markets Insider rounded up 11 of his best quotes of all time.Visit Business Insider's homepage ...
Tags: Washington Post, New York City, US, America, Trends, Bloomberg, Ap, Cnn, Usa Today, Detroit, Jamie Dimon, Thomson Reuters, Cnbc, Reuters, Don, Beverly Hills California


JPMorgan CEO Jamie Dimon called Treasurys a poor investment, saying he wouldn't touch them with a '10-foot pole'

Getty Images JPMorgan's Jamie Dimon said he wouldn't touch US Treasurys with a "10-foot pole" because they're a poor investment right now, CNBC reported.The yield on the 10-year US Treasury note was last at around only 0.9%, despite having doubled in around four months, as interest rates remain near record lows and investors prefer equities right now.Speaking at a virtual conference, Dimon said there may be a bubble in some parts of the stock market, but not all of it.He also expressed sup...
Tags: US, Trends, US Treasury, Goldman, Jamie Dimon, Cnbc, Jpmorgan, Dimon, Treasurys, Franklin Templeton, Shalini Nagarajan, Getty Images JPMorgan, Treasurys Dimon, Richard Ramsden


Blackstone pays millions in fees to former dealmaker - PE recruiting update - BNPLs enjoy record growth

Traders work on the main trading floor of the New York Stock Exchange at the opening of the trading session in New York, March 3, 2009. REUTERS/Mike Segar Happy hump day!We're not even out of 2020, but 2021 is already shaping up to be a big year for IPOs. Robinhood has tapped Goldman Sachs to lead its IPO, which will occur in 2021, according to a report out of Reuters.In other fintech news, Betterment founder and CEO Jon Stein announced he's stepping down effective immediately. His success...
Tags: New York, Minneapolis, US, Trends, Getty Images, Iowa, Goldman Sachs, New York Stock Exchange, Blackstone, Robinhood, Jamie Dimon, Cnbc, SoFi, Jon Stein, Reuters, Jpmorgan


Warren Buffett's Berkshire Hathaway built an $8 billion stake in JPMorgan, then virtually eliminated it in 6 months. Here's a look at its unusual bet on the banking giant

Getty Images / Bill Pugliano Warren Buffett's Berkshire Hathaway amassed north of $8 billion of JPMorgan stock, only to sell almost all of it this year.The billionaire investor's conglomerate owned about 60 million of the bank's shares at the end of December 2019, but slashed the holding to fewer than 1 million shares worth less than $100 million last quarter.Berkshire's selling is surprising, given Buffett personally owned the stock in 2012, two Berkshire executives sit on JPMorgan's b...
Tags: Amazon, US, Trends, Bloomberg, Getty Images, Berkshire Hathaway, Warren Buffett, Jeff Bezos, Costco, Wall Street Journal, Jamie Dimon, Berkshire, Financial Times, Wells Fargo, Buffett, Jamie


'This is childish': JPMorgan CEO blasts Congress for not passing another round of economic stimulus as COVID-19 surges

Jamie Dimon, the chief executive of JPMorgan. Misha Friedman/Getty Images Jamie Dimon, CEO of JPMorgan Chase, called on Congress to find a compromise on more economic stimulus measures on Wednesday.  A first round of emergency business funds, expanded unemployment payments, stimulus checks, and more expired at the end of the summer and any replacement has been bogged down on Capitol Hill for months. "This is childish behavior on the part of our politicians," Dimon said, urging legislators ...
Tags: Politics, News, Congress, Finance, China, US, America, Trends, New York Times, Capitol Hill, Jamie Dimon, Stimulus, Jpmorgan, JPMorgan Chase, Dimon, Graham Rapier