Tuesday, 25 February 2014

UPDATE 2-JPMorgan says reducing 2014 profit target, jobs

By David Henry and Peter Rudegeair Feb 25 (Reuters) - JPMorgan Chase & Co, the largest U.S. bank, said on Tuesday that it is reducing both its target for profitability and its headcount in 2014. The bank trimmed its target for a key measure of profitability, return on tangible common equity, to a range of 15 percent to 16 percent, down from 16 percent previously. The bank announced the changes in a presentation tied to its annual investor day conference. At the conference, Chief Fin






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