JPMorgan Chase is poised to increase its profits and gain market share in many business sectors even while many of its competitors are still struggling to recover from the financial crisis.
An article in Dealbook describes how CEO James Dimon has led the financial behemoth through the crisis by keeping a closer eye on risk than his rivals. And how he then went hunting for bargains, significantly expanding the firm’s strength in investment and retail banking while other firms were shrinking.
Still, while JPMorgan’s overall balance sheet is in better shape than most, the bank does not yet enjoy a top position in any single line of business. But that could change. Dimon has announced plans to pour more than $10 billion into the bank’s core businesses, including an aggressive push into Brazil, China and other emerging markets.
Plus, with the purchase of Bear Stearns, JPMorgan has filled gaps in its capacity for investment banking, stock and commodities trading and added a lucrative prime brokerage business, which provides financing to hedge funds.
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