WFC - JPMorgan's Jamie Dimon And Other Bank CEOs Held Private Meeting Over Fintech Competition Regulatory Burden In Davos: Report | Benzinga
CEOs of major banks, including JPMorgan Chase & Co. (NYSE:JPM) and Barclays PLC (NYSE:BCS), reportedly held a private meeting in Davos on Wednesday to discuss the challenges posed by fintech firms and stringent regulations.
What Happened: The CEOs, who were in Davos for the World Economic Forum, expressed concerns about the competitive threat posed by fintech companies and private lenders, as well as the burden of regulatory requirements, according to a sources-based report by Reuters.
The CEOs, including JPMorgan’s Jamie Dimon, also discussed the challenging global economic landscape, marked by fluctuating interest rates and increasing debt.
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The meeting, which was attended by around 60 CEOs of global financial firms, was led by Barclays CEO C.S. Venkatakrishnan and Manulife Financial Corp (NYSE:MFC) CEO Roy Gori. The agenda included discussions on managing risks amid geopolitical tensions, macroeconomic uncertainty, and technological disruptions.
Regulatory ...