JPMorgan Chase CEO Jamie Dimon is done being the banking industry’s White Knight, even if it has been a winning strategy for him during the sector’s recent instability.
Analysts have argued that JPMorgan got a sweetheart deal from regulators when it bought the assets of the failed regional lender First Republic earlier this month. But Dimon said Thursday that the acquisition has hidden costs, arguing it “distracts” the company from other operations and growth areas.
