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Financials

JPMorgan's investment banking head: quarterly revenues tracking 50% up from 2019

NEW YORK, May 27 (Reuters) - JPMorgan Chase & Co’s head of its corporate and investment banking division said second-quarter revenues are on track to be up more than 50% higher than the same period last year, thanks to extremely strong fixed income and equities trading revenues.

Speaking at a virtual conference hosted by global asset manager Alliance Bernstein, Daniel Pinto said he also expects investment banking fees in the second quarter to be up by a percentage in the mid- to high teens, while mergers and acquisitions will be “probably 15-20% down.” (Reporting By Elizabeth Dilts Marshall; editing by Jonathan Oatis)

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