Jamie Dimon wants to go shopping. The JPMorgan Chase CEO said the bank could spend up to $20 billion on an acquisition in the next few years, a figure that would rank among the largest deals in banking history if it materializes.
Where the money could go
Dimon has flagged two sectors as particularly interesting targets: payments and asset or wealth management.
For context, JPMorgan already demonstrated its appetite for large portfolio acquisitions. The bank took over the Apple Card portfolio from Goldman Sachs in a transfer valued at roughly $20 billion, absorbing a consumer credit business that Goldman had struggled to make profitable.
The $19.8 billion tech budget tells the real story
