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Hannah LevittFortune |
The CEO devoted a chunk of his annual shareholder letter to the importance of AI for the Wall Street giant’s business and for society at large.
JPM has sent about $60 billion to shareholders through dividends and stock buybacks over the past three years.
New York Community Bancorp disclosed “ineffective oversight, risk assessment and monitoring activities" and took a $2.4 billion impairment.
"When stock markets are up, it’s kind of like this little drug we all feel, like it’s just great," Dimon warned CNBC in a wide-ranging interview.
JPMorgan CEO Dimon hailed 2023's record results and forecast a rise to $90 billion of net interest income for 2024, where analysts saw a 2% drop.
Tim Sloan took over weeks after the bank was consumed by a fake-accounts scandal, but faced criticism over the slow pace of reform.
The settlements cap nearly a year of public battles over JPMorgan’s ties to Epstein, which had become a reputational headache for the bank.
“Odds are higher that they will have to go higher than they are today,” Dimon said. “I’m talking about four months from now, six months from...