JPMorgan Chase expects its investment banking revenue to jump by between 25% to 30% in the second quarter, higher than its previous estimates, co-chief executive of its commercial and investment.
NEW YORK (Reuters) -JPMorgan Chase boosted its outlook for investment banking revenue, forecasting a jump of 25% to 30% in the second quarter fueled by capital markets, a top executive said on Wednesday. The forecast became more bullish than in May, when the bank predicted investment banking revenue would rise by a mid-teens percentage in the second quarter. "Capital markets continues to be extremely robust and the overall franchise has improved," said Troy Rohrbaugh, co-CEO of JPMorgan's commercial and investment bank.
JPMorgan Expects Investment Banking Revenue to Jump as Much as 30% in Second Quarter usnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from usnews.com Daily Mail and Mail on Sunday newspapers.
JPMorgan Chase
boosted its outlook for investment banking revenue, forecasting
a jump of 25% to 30% in the second quarter fueled by capital
markets, a top executive said on Wednesday. .
JPMorgan Chase hired former PayPal executive Sri Shivananda as its new chief technology officer (CTO), the bank said in a memo on Monday, the latest senior hire tasked with deploying some of its $17 billion tech budget. Shivananda will start later this month and succeed A.J. Lang, who announced his plans to retire earlier this year, according to the memo seen by Reuters. The new executive has a track record of business growth and innovation that will help JPMorgan to "tackle complex technological challenges," Beer wrote.