JPMorgan chief Jamie Dimon says the bank will pursue an aggressive M&A strategy to see off the threats posed to its business by Big Tech giants and smaller fintechs.
Speaking at the New York-based bank’s annual investor meeting, Dimon said: “We are looking, and we will be much more aggressive with acquisitions across the board.
“You’re going to get some form of competition from Apple, Amazon, Facebook, Google, WeChat, Alipay; you’re going to get it across payments, white label, black label and bank-in-a-box and marketplaces...when it comes to M&A, we should be very, very creative."
CNBC reports that Dimon told investors to expect takeovers in adjacent business lines, much like its recent acquisitions of InstaMed and WePay.