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Dimon Says Threats to JPMorgan Span Google to China Banks

Jamie Dimon, who built JPMorgan Chase & Co. into the world’s biggest investment bank, said threats to its dominance may come from Beijing, Silicon Valley and a San Francisco-based rival with a stage-coach logo.

“We know there are going to be attacks everywhere,” Dimon told investors at an annual meeting yesterday at the firm’s New York headquarters. Asked about challengers, the chief executive officer cited companies from Industrial & Commercial Bank of China Ltd. to Google Inc. Wells Fargo & Co., founded in 1852 to serve California’s Gold Rush pioneers, will be “a major investment bank” within five years, he said.