JPMorgan Investment Banking Chief Plans Exit After 45 Years As Bank Ramps Up AI And Braces For $105B Costs: Report

• The retirement comes after the company reported strong performance in its investment banking business for Q3. 
• Earlier this month, JPMorgan consumer and community banking chief Marianne Lake said that it expects expenses to climb to about $105 billion in 2026. 
• Lake also said that investment banking revenue is expected to be up by the low-single digit percentages in the fourth quarter.

JPMorgan Chase & Co’s investment banking (JPM) Chairman Jamie Grant is reportedly set to retire from the firm early next year.

Bloomberg reported on Monday, citing people familiar with the matter and a memo, that Grant is slated to leave after 45 years at the lender. According to Grant’s Linkedin profile, he joined the lender in 1980 as an investment banker after graduating from Oxford University and rose to be the global chairman of Investment banking.

AI Push, Rising Costs

Earlier this month, JPMorgan consumer and community banking chief Marianne Lake said that the firm expects expenses to climb to about $105 billion in 2026.

Lake, during a Goldman Sachs conference last week, said that the second biggest driving factor of higher costs is the company’s strategic investments, which include building branches, adding bankers, adding advisors, investing in acquisition marketing, refreshing branches, investing in AI, in customer features and technology, and adding new products.

Lake also said that investment banking revenue is expected to be up by the low-single digit percentages in the fourth quarter, and markets revenue to be up in the low-teens percentages.

Q3 Performance

In October, JPM reported 9% growth in managed revenue to $47.1 billion driven by higher markets revenue and higher fees across asset management and investment banking, among others.

The company also raised its net interest income forecast  for the full year 2025 to $95.8 billion, up from its previous forecast of $95.5 billion. It expects interest income excluding markets of $95 billion in 2026.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around JPM stayed within the ‘extremely bullish’ territory over the past 24 hours, while message volume stayed at ‘extremely high’ levels.

JPM stock has gained nearly 34% this year and over the past 12 months. 

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