J.P. Morgan's global wealth management business hardly felt the sting of the bank's recent $307 million U.S. regulatory settlement.
Global wealth management, which includes both J.P. Morgan Private Bank and J.P. Morgan Securities, generated $1.4 billion in revenue in the fourth quarter of 2015, down 2% year-over-year but up 1% from the previous quarter, according to the bank's latest financial results released Thursday. For the full year, revenue inched up 2% to $5.8 billion from $5.7 billion a year earlier.
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