JPMorgan Chase & Co (JPM.N) will expand aggressively in the next five years in consumer and private banking, even as it loses more than $1 billion in revenue from new financial regulations, the head of the company's retail banking business said on Tuesday. But Retail Financial Services CEO Charlie Scharf also ruled out expansion by smaller acquisitions, at least for now, in favor of opening new offices. Chase will add at least 1,000 branches in the next three years and could add up to 2,000 over the next five years, Scharf said at the company's annual investor day.
Source
