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JPMorgan’s call for the stock market, SPACs, fintech rivals and CEO succession

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If anybody on Wall Street is due a victory lap, it’s Daniel Pinto.

The head of JPMorgan Chase‘s massive corporate and investment bank is fresh off a year for the record books: Pinto’s business produced $49.3 billion in revenue and $17.1 billion in profit in 2020, more earnings than JPMorgan’s three other divisions combined.

But Pinto, who is one of two key deputies of CEO Jamie Dimon as co-president of the biggest U.S. bank by assets, gave no signs of complacency during a recent Zoom conversation.

Instead, he was unusually candid about the risks that JPMorgan faces from competitors everywhere, from traditional bank rivals to tech giants and fast-moving fintech players including PayPal and



Source cnbc.com

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