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Dimon Sees Higher Expenses, Lower Returns After Volcker Approval

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JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said, “All things equal, our expenses will be higher, our returns lower.” Photographer: Pete Marovich/Bloomberg

Dec. 11 (Bloomberg) -- JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon said new banking restrictions such as the Volcker rule approved yesterday by U.S. regulators will result in increased costs and reduced profit for the firm.

“All things equal, our expenses will be higher, our returns lower,” Dimon said today during an investor conference sponsored by Goldman Sachs Group Inc.

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To contact the reporter on this story: Hugh Son in New York at hson1@bloomberg.net

To contact the editor responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net

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