Things finally may be looking up.
CNBC reports that big banks may have begun the year slashing high-end head count, but a key JPMorgan Chase official had an optimistic tone speaking Wednesday at the Deutsche Bank Global Financial Services Conference in New York.
"We are getting toward the end of the cycle of contraction," corporate and investment bank CEO Daniel Pinto said, referring to the downsizing in fixed income, currencies and commodities businesses that are key for so many Wall Street banks.
After seeing top banks slash head count and compensation to preserve profits, Pinto's comments are likely welcome all across Wall Street.
Pinto also likes the looks of the investment banking business, which was hit hard by a standstill in deals activity that accompanied market turmoil that began 2016. Mergers and acquisitions have shown signs of picking up.
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