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Brian Chappatta

Jamie Dimon Secures JPMorgan's Fortress With Billions

The biggest U.S. bank set aside more money for credit losses than analysts expected, part of a plan to be “prepared for all eventualities.”

King of the castle.

King of the castle.

Photographer: Al Drago/Bloomberg

During the past decade, when the U.S. economy could seemingly do no wrong, analysts could be forgiven for rolling their eyes every time JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon mentioned the resilience of his bank’s “fortress balance sheet.”

Now, though? In the midst of a global pandemic, taking refuge in a fortress sounds quite appealing.