JP Morgan CEO warns 'Silicon Valley is coming'

April 9, 2015 2:02 PM

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JP Morgan CEO warns 'Silicon Valley is coming'

In his annual letter to shareholders, JP Morgan CEO Jamie Dimon warns of growing competition for Wall Street in the form of Silicon Valley start-ups.

“Silicon Valley is coming,” Dimon said in the letter, which specifically mentions mobile payments, cyber currency and peer-to-peer lending.

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