When Jamie Dimon was asked by an analyst on Friday if his bank would wait to hire employees for lower pay as the economy slows, the chief executive of JPMorgan Chase & Co had a blunt answer: 'No.'
The Empire State Building and One World Trade Center rise above Manhattan as seen from an apartment in the Central Park Tower building as the building celebrates its topping out in New York, U.S. September 17, 2019. REUTERS/Lucas Jackson
NEW YORK, Oct 14 - When Jamie Dimon was asked by an analyst on Friday if his bank would wait to hire employees for lower pay as the economy slows, the chief executive of JPMorgan Chase & CoThe largest U.S. lender's workforce swelled 9% to 288,474 in the third quarter from a year earlier as it added staff in its consumer, investment banking and asset and wealth management businesses. Compensation expenses rose 16% to $10.5 billion.
"We're looking at headcount," James Gorman, Morgan Stanley's chief executive officer, told analysts in a conference call. Separately, Morgan Stanley's chief financial officer in an interview said that the company is "constantly evaluating" its resources, and "when we think about headcount, we always think of it relative to the economic environment."
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