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JPMorgan is reviewing the size of some of its
capital-intensive units such as interest-rates trading, prime
brokerage and delta-one equities desk, Daniel Pinto, chief
executive of JPMorgan's corporate and investment bank, told
Bloomberg in an interview.
JPMorgan isn't necessarily looking at exiting any businesses or
significantly cutting jobs, Bloomberg quoted Pinto as saying.
In December, the U.S. Federal Reserve proposed that eight of the
largest U.S. banks will need to hold an extra capital cushion
and said the firms will need more equity if they rely on risky
types of debt.
Fed officials estimated the banks would face a surcharge of
between 1 and 4.5 percent of risk-weighted assets. Fed Vice
Chairman Stanley Fischer said at the time that JPMorgan would
need more than $20 billion of additional capital to comply.
Pinto is expected to discuss his review at JPMorgan's investor
day on Feb. 24, Bloomberg reported.
JPMorgan was not immediately available for comment.
(Reporting by Zara Mascarenhas in Bengaluru; Editing by Maju
Samuel)
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