JPMorgan Chase, the nation's largest bank by assets, is getting bigger every day.
The bank's second-in-command said the fintech threat is driving some of its expansion plans.
2, Daniel Pinto, suggested that the looming fintech threat is also responsible for JPMorgan's retail banking expansion in Europe.
It plans to spend $15.3 billion on tech in 2023, up $14 billion from last year.
Last month, JPMorgan agreed to pay about $10.6 billion to buy First Republic Bank after the smaller bank was seized by regulators.
Persons:
JPMorgan Chase, Daniel Pinto, Jamie Dimon's, fintechs, Dimon's, Pinto, Bernstein, JPMorgan
Organizations:
JPMorgan Chase, JPMorgan, Morning, Bloomberg, First, Bank
Locations:
Europe, United States, Germany, America