Saturday, 1 November 2014
Last updated 15 hours ago
Jul 16 2014 | 3:15pm ET
JPMorgan Chase could spin-off its private-equity business “soon,” CEO Jamie Dimon said yesterday.
Dimon address One Equity Partners’ future during the bank’s quarterly earnings call. JPMorgan announced plans to spin off the business a year ago.
Dimon said yesterday that it may retain some of the One Equity business.
One Equity’s profits plummeted in the second-quarter, dropping to $7 million from $212 million in the year-earlier period. Revenue fell to $36 million from $410 million.
A year ago, One Equity managed $4.5 billion—all of its JPMorgan’s money. The unit, which the bank acquired in 2004 along with Bank One Corp., is to raise money from outside investors to replace it.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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