JPMorgan's Trading Revenue Is on Pace to Jump, Pinto Says
- First-quarter investment-banking revenue seen slightly higher
- ‘The year has started well,’ bank’s trading chief says
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JPMorgan Chase & Co.’s trading revenue is on pace to increase by “mid to high single digits” in the first three months of 2018, with a spike in market volatility poised to help Wall Street firms break a three-quarter slump in that business.
“Clearly, the year has started well,” Daniel Pinto, who oversees the trading and investment-banking unit of the largest U.S. bank, said Tuesday. He cited currencies and equities as particular areas of strength in response to a question from an analyst at the firm’s annual investor day.