March 6, 2007 / 9:03 PM / 12 years ago

JPMorgan chairman says 'acquisition capable'

NEW YORK, March 6 (Reuters) - JPMorgan Chase & Co. (JPM.N) Chairman Jamie Dimon said on Tuesday his executive team is “acquisition capable,” but feels no pressure to do a deal.

Dimon said his management team is no longer preoccupied with digesting past acquisitions.

“We’re acquisition capable,” Dimon said at JPMorgan’s investor day in Manhattan.

Some analysts expect JPMorgan to buy a large regional bank, to expand the company’s retail branch footprint.

Dimon didn’t say anything to discourage that thinking. He said he expects further consolidation among regional banks.

“The opportunity looks so large,” Dimon said, adding that he doesn’t feel any pressure to do a deal.

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