What you need to know on Wall Street today
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It's evident when JPMorgan CFO Marianne Lake talks about the bank's opportunity to "delight" customers. Or when co-president Gordon Smith sends a memo to staff highlighting the bank's "customer obsession." CEO Jamie Dimon has even specifically referenced Amazon Prime.
That's right. It's clear that JPMorgan's taking inspiration from Amazon."Jeff Bezos has always looked at his company as being very customer-obsessed," Lori Beer, chief information officer at JPMorgan Chase, told Business Insider. "We're thinking of JPMorgan Chase in the same light."
Business Insider recently sat down with Beer, who oversees an annual tech spend of $10.8 billion and 50,000 technologists. You can read our full interview with Beer here.
Elsewhere in finance news, the CEO of $67 billion UK bank Lloyds is watching four industry drivers to avoid ending up like "Blockbuster or Kodak."
In markets news:
- 'Losing direction': Allergan investors are unhappy after a wild 4-hour takeover drama
- The market is stuck in a traffic jam - so Goldman Sachs has picked 14 stocks set to break the gridlock by exploding higher
- Goldman Sachs' top oil gurus lay out a completely different take than Trump has on where prices should be
- There's a new vape pen taking over America - and it has Wall Street worried about tobacco stocks
In tech news:
- Morgan Stanley just downgraded Apple - and it echoes a growing complaint among analysts
- Inside Snapchat's charm offensive to get advertisers on board with augmented reality
- A close look at the financial state of MoviePass shows how "scary" it is for investors
- A soft spot in Amazon's core business will surprise investors in Q1, but Wall Street will have a bigger reason to celebrate