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JPMorgan Weighs Leaner Trading Units as Rules Hit Profitability

Even JPMorgan Chase & Co., a Wall Street winner since the financial crisis and now the world’s biggest investment bank, is considering shrinking some trading businesses because new rules make them less profitable.

The firm is reviewing the size of capital-intensive units such as interest-rates trading, prime brokerage and its so-called delta-one equities desk, according to Daniel Pinto, chief executive officer of JPMorgan’s corporate and investment bank. Pinto isn’t necessarily looking to exit any businesses or make significant job cuts, he said in an interview.