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“I wouldn’t assume we haven’t done anything,” Erdoes said when asked why her unit has not announced an acquisition deal. “You’ve got to kiss a lot of frogs … (to know) what’s out there.”
Erdoes, whose division manages institutional client investments and private banking, said there has been a significant increase in deal activity across the industry. While JPMorgan has looked at a number of possible deals, the bar for an acquisition is high, she said.
“I don’t think it’s a good idea to be sitting still,” Erdoes said at a virtual conference hosted by Deutsche Bank AG (NYSE:DB).
In the wide-ranging discussion, Erdoes also said lending at the private bank has risen 17% so far this year from 2020.
