Good news for anyone hoping to land a job on Wall Street: JPMorgan plans to expand its employee ranks this year.
JPMorgan — which currently employs around 320,000 people — plans to double down on its core investment areas in retail, payments, and investment banking this year, Pinto said in the interview.
JPMorgan's plans for expansion also come on the heels of the most profitable year in its history.
Citigroup announced last week that it would be laying off around 20,000 workers over the coming three years as part of a corporate restructuring initiative internally known as "Project Bora Bora."
Last year, major investment banks like Goldman Sachs and Morgan Stanley also made staff cuts.
Persons:
Daniel Pinto, Pinto, Goldman Sachs, Morgan Stanley
Organizations:
Service, JPMorgan, Business, Bloomberg, Citigroup, Bora Bora
Locations:
Swiss, Davos