JPMorgan’s boss Jamie Dimon has a bone to pick with cryptocurrencies, shadow banking, and the financial technology (fintech) economy. In a letter to JPMorgan shareholders, Dimon explained that banks are “playing an increasingly smaller role in the financial system” and there’s a list of items like digital currencies he’s named that needs to be “dealt with – and rather quickly.”
Jamie Dimon’s Letter to JPMorgan Shareholders Says Banks Need to Focus on the Future
Jamie Dimon has written a comprehensive letter to shareholders about the company’s accomplished goals and future concerns. Dimon’s letter, of course, meets the needs of his friends in Davos and the World Economic Forum’s 2030 playbook. The JPMorgan CEO addressed many of these targets like addressing climate change and lending more money to minorities who have limited access to banking.
In addition to the accomplishments and future changes, Dimon noted that financial incumbents are “bogged down in the past” and a concentration needs to be