JPMorgan’s asset, wealth administration division exploring acquisitions

© Reuters. FILE PHOTO: An indication of JP Morgan Chase Financial institution is seen in entrance of their headquarters tower in Manhattan, New York, U.S., November 13, 2017. REUTERS/Amr Alfiky NEW YORK (Reuters) – JPMorgan Chase & Co (NYSE:) head of asset and wealth administration Mary Callahan Erdoes mentioned on Wednesday her division of the



© Reuters. FILE PHOTO: An indication of JP Morgan Chase Financial institution is seen in entrance of their headquarters tower in Manhattan, New York, U.S., November 13, 2017. REUTERS/Amr Alfiky

NEW YORK (Reuters) – JPMorgan Chase & Co (NYSE:) head of asset and wealth administration Mary Callahan Erdoes mentioned on Wednesday her division of the financial institution is wanting into doable alternatives for add-on acquisitions.

“I would not assume we have not finished something,” Erdoes mentioned when requested why her unit has not introduced an acquisition deal. “You have to kiss quite a lot of frogs … (to know) what’s on the market.”

Erdoes, whose division manages institutional consumer investments and personal banking, mentioned there was a big enhance in deal exercise throughout the business. Whereas JPMorgan has checked out plenty of doable offers, the bar for an acquisition is excessive, she mentioned.

“I don’t suppose it’s a good suggestion to be sitting nonetheless,” Erdoes mentioned at a digital convention hosted by Deutsche Financial institution AG (NYSE:).

Within the wide-ranging dialogue, Erdoes additionally mentioned lending on the non-public financial institution has risen 17% to date this yr from 2020.

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