JPMorgan's Dimon Signals $10-20 Billion M&A Appetite, Raises Spending Outlook

JPMorgan Chase (JPM) CEO Jamie Dimon said on Wednesday (May 27, 2026) the bank is eyeing a potential $10 billion to $20 billion acquisition in the coming years, signaling readiness to capitalize on opportunities as dealmaking surges. Speaking at the Bernstein Strategic Decisions Conference, Dimon raised the bank’s full-year expense forecast to near $106 billion, up from $105 billion, citing stronger-than-expected trading and investment banking fees. He described current market sentiment as "gung-ho," with the trading desk on track for its second-best quarter ever after a record first quarter. Markets revenue is seen rising at least 11% in the current quarter, while investment banking fees could climb 10%. Shares fell nearly 3%, the worst in the KBW Bank Index, despite the upbeat outlook. Dimon stressed the bank is not in a hurry to deploy capital and that M&A is not a shortcut to growth, but he sees opportunities to deepen core businesses if the right target fits seamlessly into JPMorgan’s franchise.