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The US bank has 2,600 employees in the city, with the building creating 3,900 local construction jobs over the past five years
JP Morgan’s profit surged above expectations to $13.4bn in the first quarter of this year, up from $12.6bn a year earlier, thanks to higher interest rates and its takeover of First Republic. Revenue for the bank totalled $42.6bn, above expectations of $41.9bn, while earnings per share sat at $4.44, compared to estimates of $4.11. Significantly,
JP Morgan, Citi and Wells Fargo will all update investors on their performance so far this year with attention likely to be firmly fixed on their guidance for the year.