JPMorgan Private-Equity Spin-Off Coming ‘Soon’

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.


In Depth

GSAM’s Papagiannis on Liquid Alternatives

May 25 2016 | 5:07pm ET

The popularity of liquid alternatives strategies has blossomed in recent years,...

Lifestyle

From Modern Trader: Stephen Curry is a Black Swan

May 18 2016 | 7:43pm ET

What do the rise of the Internet, the sinking of the Titanic, 9/11, and Stephen...

Guest Contributor

LendingClub and the Question of Internal Hedge Funds

May 19 2016 | 8:42pm ET

Peer-to-peer lending platform LendingClub Corp. has been in the news since the firm...