Buried among the deluge of news from JPMorgan Chase's investor day last week was a surprising fintech nugget. Despite's its drive to streamline tech spending, the Wall Street giant expects to spend $600m more on tech this year than the industry-leading $10.8bn it deployed in 2018.
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JPMorgan outspends itself on ‘change the bank’ fintech
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“It’s like a portfolio manager looking back on his/her performance at the end where even if they beat their benchmark they might say, 'I did OK, but if I hadn’t had those three dogs it would have been so much better.'” Everyone will have some dogs, but you don’t know which ones they are, except in hindsight.”
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