JPMorgan Worth One-Third More in Break-Up, Mayo Says

JPMorgan Chase & Co., the largest U.S. bank by assets, should consider breaking up and selling businesses because its parts are worth one-third more than its market value, according to Mike Mayo, an analyst at CLSA Ltd.

While JPMorgan’s stock has outperformed its peers, the New York-based company has trailed the leading firms in its individual businesses, Mayo wrote in a note e-mailed today. JPMorgan executives must make the case at tomorrow’s investor conference for why the firm shouldn’t be broken up, he wrote.