The world’s top investment bank, JP Morgan Chase & Co is expecting big profits in 2010 of 16.7 billion dollars. The bank is the only major Wall St company to have made profits every quarter, even during the recession.
Source: BBC News
About JP Morgan Chase & Co:
JPMorgan Chase & Co. is a global securities, investment banking and retail banking firm. It is a major provider of financial services, with assets of $2 trillion, and is the U.S. banking institution having the second largest market capitalization and third largest domestic deposit base (behind Wells Fargo and Bank of America). The hedge fund unit of JPMorgan Chase is the largest hedge fund in the United States with $53.5 billion in assets as of the end of 2009. It was formed in 2000, when Chase Manhattan Corporation merged with J JPMorgan Chase & Co.