Investment Banking

JPMorgan tells banking clients: Healthcare venture is no threat

JPMorgan likens venture with Amazon and Berkshire Hathaway to a group purchasing organisation for employees

JPMorgan tells banking clients: Healthcare venture is no threat

Some healthcare companies have complained to JPMorgan about the bank’s new health-care partnership with Amazon and Berkshire Hathaway, worried that it could cut into their business.

JPMorgan chief executive Jamie Dimon got involved personally, speaking with some health-care executives to allay fears that the bank would become their rival, people familiar with the matter said.

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