Citigroup Inc. and JPMorgan Chase & Co. are bracing investors for a fourth straight drop in first- quarter trading, a period of the year when the largest investment banks typically earn the most from that business.
Blackstone Group LP chief Steve Schwarzman received $374.5 million last year in pay and cash dividends, an increase of 76 percent from 2012, as the world’s biggest alternative-asset manager took advantage of rising equity markets to sell shares of companies.
Jamie Dimon was talking about the business climate, not the polar vortex that gripped much of the U.S. this winter, when he mentioned “weather” in a discussion about a slump in trading revenue at JPMorgan Chase & Co.
Mike Mayo was a 31-year-old analyst at Lehman Brothers Holdings Inc. in 1994 when he wrote a report predicting KeyCorp shares would trail rivals as the firm considered restructuring. He’s still pushing for the overhaul.
Jamie Dimon, who built JPMorgan Chase & Co. into the world’s biggest investment bank, said threats to its dominance may come from Beijing, Silicon Valley and a San Francisco-based rival with a stage-coach logo.