JPMorgan eyes $1.4 billion in cost savings in 2015

Reuters News
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Posted: Feb 24, 2015 8:37 AM

By David Henry and Peter Rudegeair

NEW YORK (Reuters) - JPMorgan Chase & Co <JPM.N> said on Tuesday it is aiming to save around $1.4 billion in annual expenses by cutting costs and simplifying businesses mainly in its consumer- and investment-banking units.

The largest U.S. bank expects annual expenses in 2015 to fall to roughly $57 billion from $58.4 billion in 2014, according to presentations at its annual investor day.

(Reporting by David Henry and Peter Rudegeair; Editing by Paul Simao)