JPMorgan nixes calls for breakup in battle of bank giants

Jamie Dimon to Lloyd Blankfein: Come at me, bro.

JPMorgan Chase pushed back Tuesday against calls from rival Goldman Sachs to break up the nation’s biggest bank, arguing that its size is a selling point for clients.

“Scale has always defined the winner in banking,” Chief Financial Officer Marianne Lake said during the bank’s annual investor day held at its Park Avenue headquarters. “We have been able to consistently demonstrate out ability to leverage that scale and successfully adapt.”

“We have a unique asset, an irreplicable asset, in the shape of our company and the mix of our businesses,” she added.

Read on.

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