© 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 stated on Wednesday her division of the financial institution is trying into potential alternatives for add-on acquisitions.
“I would not assume we’ve not achieved something,” Erdoes stated when requested why her unit has not introduced an acquisition deal. “You have to kiss a variety of frogs … (to know) what’s on the market.”
Erdoes, whose division manages institutional shopper investments and personal banking, stated there was a big improve in deal exercise throughout the trade. Whereas JPMorgan has checked out various potential offers, the bar for an acquisition is excessive, she stated.
“I don’t assume it’s a good suggestion to be sitting nonetheless,” Erdoes stated at a digital convention hosted by Deutsche Financial institution AG (NYSE:).
Within the wide-ranging dialogue, Erdoes additionally stated lending on the non-public financial institution has risen 17% thus far this 12 months from 2020.
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