If you look at the banking business over many years, it's always been a huge user of technology. This has been going on my whole life, that people have been adding technology, digitizing services.
Jamie DimonThe transaction reflects our disciplined strategy of investing capital in core businesses where we can leverage scale and expertise for competitive advantage. In addition to being a great strategic fit, the deal is compelling financially.
Jamie DimonPart of the concept of the euro zone was to establish a common market. The banks were going to bank across all their countries like we bank across states. But that concept got killed for a whole bunch of reasons that I won't get into. That was a good concept, by the way. It may yet return, because there are huge economies of scale in banking. That's another thing people don't quite get.
Jamie DimonTheir [American banks] big issue will be if they want to deal with the biggest companies, which are doing a lot of business overseas. How they do that is a big question. It's almost impossible to build a global investment bank from scratch. If they want to do that, they probably will have to do an acquisition.
Jamie Dimon