NEW YORK, Sept 9 (Reuters) - JPMorgan Chase
Co ( JPM )-CEO of investment banking Doug Petno said that investment
banking revenue will grow in low double digits for the third
quarter of this year.
Petno also told an investor conference on Tuesday that
markets revenue would grow in the high teens percentage rate for
the third quarter.
JPMorgan's ( JPM ) investment banking fees grew 7% to $2.5 billion
in the second quarter. That result surpassed its guidance in May
for a decline by a mid-teens percentage.
Investment banking activity was led by mergers and
acquisitions and debt underwriting.
Market turmoil from tariff announcements also propelled the
bank's trading revenue up 15% to $8.9 billion in the second
quarter, driven by gains in both fixed income and equities.
Shares were up 1.8% to $298.15 in midday trading.