Competition in the multitrillion-dollar market for retirement assets is fierce among managers such as Goldman Sachs, BlackRock, Russell Investments and Mercer.

Klarna joins a wave of fintech and crypto firms seeking entry to the traditional banking system.

The moves would appear to make Doug Petno and Troy Rohrbaugh the most obvious possible successors to JPMorgan Chase CEO Jamie Dimon.

The Fed’s annual exercise comes at a pivotal moment for bank regulation because, unlike previous years, the results will not affect capital requirements.

The announcements followed the release of the Federal Reserve’s annual stress test, which found that all 32 large banks weathered a hypothetical recession.

JPMorgan Chase’s move suggests long-running AI agents are close to clearing the security and governance hurdles that have slowed adoption inside big companies.

Morgan Stanley’s move is one of the earliest instances of a major Wall Street bank opening its platforms to external AI tools.

Goldman Sachs CEO David Solomon’s comments come as investors prepare for what will be one of the busiest periods for equity issuance in years.

The AI boom that has funneled more than $250 billion into OpenAI and Anthropic has left hundreds of startups built before ChatGPT’s arrival in 2022 stranded.

A $20 billion deal would be among the largest in JPMorgan’s history and could invite regulatory scrutiny given its position as the largest U.S. bank by assets.