With more than $2 trillion in total assets under management, JPMorgan Chase remains the largest bank in the U.S. The New York City company moved up two spots from last year’s list thanks to a record $111.5 billion in annual revenue (and an impressive $32.5 billion in annual profit). JPMorgan has benefited from rising interest rates and lower corporate taxes as the bank has increased investments in technology, new branches, and higher salaries for entry-level employees. Economists and executives have warned of a looming recession, but CEO Jamie Dimon waved off those fears, writing in his annual letter to shareholders: “Today is nothing like 2008.”
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