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Banking

Exclusive: JPMorgan begins First Republic makeover as it opens more branches

The entrance to a First Republic Bank branch is seen in the Chinatown neighborhood of New York City, U.S., April 28, 2023. REUTERS/Shannon Stapleton/File Photo Acquire Licensing RightsNEW YORK, Dec 11 (Reuters) - JPMorgan Chase (JPM.N) is preparing to overhaul branches it acquired from failed First Republic Bank as the lender expands its formidable national footprint."Branches have been a winning strategy for us that is helping us capture more market share,” Jennifer Roberts, CEO of Chase Consumer Banking, told Reuters in an interview.Of the customers who hold deposits with the...
Banking

Bank of England asks banks to report private credit exposure -sources

A pedestrian walks past the Bank of England in the City of London, Britain, September 25, 2023. REUTERS/Hollie Adams/File Photo Acquire Licensing RightsLONDON, Dec 7 (Reuters) - Britain's top financial regulator has asked banks active in the so-called private credit market for details of their exposure to an area which it has identified as a top systemic danger, people with knowledge of the matter told Reuters.The global market for private credit, which largely involves leveraged loans made to indebted companies, grew to nearly $1.5 trillion in 2022, a jump of...
Banking

JPMorgan says integration of First Republic Bank is going as per plan

A branch of First Republic Bank is seen after Jamie Dimon's JPMorgan Chase & Co emerged as the winner of a weekend auction of the bank in San Franciso, California, U.S. May 1, 2023. REUTERS/Hyun Joo Jin Acquire Licensing RightsNEW YORK, Dec 5 (Reuters) - JPMorgan Chase's (JPM.N) integration of failed First Republic Bank is going according to the plan as it looks to retain customers and build on services it acquired, said Marianne Lake, the Co-CEO of JPMorgan's consumer and community bank.JPMorgan, the largest U.S. lender, has retained 90%...
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