JPMorgan ‘actively unwinding’ Russian business

JPMorgan Chase & Co. said Thursday it is actively unwinding its Russian business and it has not been pursuing any new business there, in compliance with directives by governments around the world. “Current activities are limited, including helping global clients address and close out pre-existing obligations; managing their Russian-related risk; acting as a custodian to our clients; and taking care of our employees,” the bank said in an emailed statement. Shares of JPMorgan Chase, a component of the Dow Jones Industrial Average, fell 1.2% on Thursday, compared to a loss of 0.3% by the Dow Jones Industrial Average.

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