The first shot of the U.S. stock earnings season: JPMorgan's Q4 revenue exceeds expectations, Goldman Sachs' Net income doubles, and Blackrock sets a record for client funds for the year.
Wall Street has fired the "first shot" of the U.S. stock market's Q4 Earnings Reports season, with JPMorgan, Goldman Sachs, Wells Fargo & Co, Blackrock, and others announcing their latest earnings reports.
The power struggle at JPMorgan has taken a new twist! The second-in-command, Pinto, is set to retire, and the successor does not intend to compete for the CEO position.
JPMorgan's Chief Operating Officer and President, Pinto, will leave his position in June this year and officially retire by the end of 2026. The COO role will be taken over by the current co-head of Commercial and Investment Banking at JPMorgan, Pipsack. However, Pipsack, previously seen as a strong candidate to succeed Dimon, has no intention of competing for the CEO position, which adds new variables to the question of Dimon's successor. Although the pool of candidates has narrowed, it remains unclear.
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