To pitch their payments system of the future, U.S. banks hired Daveed Diggs, an actor best known for playing Thomas Jefferson and Marquis de Lafayette in the Broadway musical Hamilton.
Banking is one of the last industries in which all the biggest companies are still run by men. That's not changing anytime soon — thanks, JPMorgan Chase. Kate Quinn plans U.S. Bank's SuperBowl debut and JPM's Marvelle Sullivan Berchtold launches an exciting venture.
Swelling capital levels, tax cuts and changing attitudes about post-crisis regulation could encourage bigger banks to issue the one-time payouts to reward shareholders and better manage their returns.
JPMorgan Chase and Amazon have demonstrated substantial power to digitize their industries, even influencing the strategy of others. But automating and streamlining health care will be a particularly tough task.
The companies said they plan to set up an independent firm “that is free from profit-making incentives and constraints” to offer health care to their employees.
JPM CEO is expected to remain at the bank for another five years; Michael DeVito had been serving on an interim basis since his predecessor was fired late last year.
Speculation has existed for awhile that JPMorgan Chase could be the first of the megabanks to name a woman chief executive, but the elevation of executives Daniel Pinto and Gordon Smith to co-presidents and co-COOs seemed to put them in the lead to succeed Jamie Dimon.
Most general counsels are men, but in 2017 women filled more than half of the top legal positions that opened up at large financial firms. The trend is likely to continue as the population of women lawyers swells and banks continue to diversify their senior ranks.
Readers weigh in on how Mick Mulvaney is remaking the Consumer Financial Protection Bureau, chime in on JPMorgan’s plans to roll out more branches, react to fee income trends and more.
