Tuesday, July 27

Jamie Dimon

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JPMorgan CEO Jamie Dimon says timber will be great business for the bank, after it bought a lumber firm during the market boom

JPMorgan CEO Jamie Dimon spoke to analysts after the bank posted strong earnings. Scott Olson/Getty Images JPMorgan CEO Jamie Dimon has said the timber business is going to be a "great thing" for the Wall Street giant, after the company snapped up a lumber investment firm during a boom in the market.Speaking about the purchase of lumber asset manager Campbell Global after the bank's strong earnings on Tuesday, Dimon said: "Timber assets is going to be a great thing for asset management."JPMorgan snapped up Campbell at the end of June. The Oregon-based company has around $5.6 billion of assets under management and specialises in global timberland investment.The purchase came after a huge rally in lumber prices that attracted hedge funds and other investors into the previously unre...