BRIEF-JPMorgan Chase trims profit target

Tue Feb 25, 2014 8:29am EST

Feb 25 (Reuters) - JPMorgan Chase & Co said Tuesday in a presentation at its annual investor day: * Profit target trimmed to range of 15 to 16 percent ROTCE * Profit target was previously 16 percent ROTCE * The bank projects $30 billion in cumulative excess capital in 2015 * The bank projects adjusted operating expenses to be "flat to down" in 2014 * Around 8,000 jobs in retail bank are expected to be cut in 2014 * Retail bank job cuts include 6,000 in mortgage, 2,000 in branches * The bank expects total headcount down by 5,000 to 260,000 in 2014 * The bank expects core loan growth of around 5 percent in 2014 * Loan growth figures will depend on whether some mortgages are retained

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