JPMorgan presentation takes piece out of investment banks

|About: JPMorgan Chase & Co. (JPM)|By:, SA News Editor

Today's presentation by JPMorgan (JPM -1.6%) Corporate & Investment Bank co-CEOs Mike Cavanagh and Daniel Pinto is taking a slice out of Goldman Sachs (GS -1.9%) and Morgan Stanley (MS -2.2%), with Pinto talking about a continuing slowdown in markets activity thus far in 2014.

"It's just weather," says Jamie Dimon, commenting on the tough start to the year - not necessarily blaming the weather, but pointing out the passing nature of such trends.

Not discussed today is a WSJ report on the unexpected departure of the bank's chief compliance officer, Cindy Armine, after just about a year on the job. She's apparently moving to First Data Corp, run by former JPMorgan exec Frank Bisignano, who's recruited a number of former colleagues since exiting the bank in April. Armine's move is just the latest in a line of high-profile exits from JPMorgan. Her role will be filled on an interim basis by Lou Rauchenberger, chief administrative officer for the corporate and investment bank.

Some other IBs: Greenhill (GHL -0.8%), Evercore (EVR -1.1%), Lazard (LAZ -0.6%)

Earlier investor day coverage