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Sanoke Viswanathan, head of JPMorgan’s newly formed “international consumer” division, said the biggest bank in the US would invest heavily to turn Chase into a serious force in the UK before potentially expanding into other countries in Europe and Latin America.
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“This is a very big strategic commitment from the firm’s standpoint,” he said in an interview in the bank’s Canary Wharf headquarters. “We will spend hundreds of millions before we get to break-even and get to a place where this is a sustainable business, and we’re not in a rush.”
https://www.ft.com/content/a2031a6f-827e-4e18-b81b-e607eb073988
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