NEW YORK, Dec 10 (Reuters) - JPMorgan Chase ( JPM )
investment banking fees are expected to rise by 45% in the
fourth quarter over a year ago, Marianne Lake, the bank's CEO of
consumer and community banking, said on Tuesday.
Trading fees are likely to jump by 15% in the fourth
quarter, she told investors at the Goldman Sachs Financial
Services conference in New York.
In the third quarter, investment banking fees surged 31%,
more than double the previous 15% guidance. Lake also expects
net interest income - the difference between what the bank earns
on loans and pays on deposits - to be higher by $2 billion
compared with estimates.
"The rate outlook has firmed up on average, about 40 basis
points higher in 2025 than it was earlier," Lake said, while
noting that there are "plenty of caveats about the fact that
these things can change pretty quickly."
"Our 2025 NII, we're expecting it to be about $2 billion
higher," she added.
Gains in investment banking and rising interest payments
helped JPMorgan ( JPM ) post a third-quarter profit that beat
expectations.
Lake is a potential candidate to succeed CEO Jamie Dimon,
who has run JPMorgan ( JPM ) since 2006. Other contenders include
Jennifer Piepszak and Troy Rohrbaugh, co-CEOs of JPMorgan's ( JPM )
commercial and investment bank, and Mary Erdoes, who heads the
asset and wealth management businesses.