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In This List

Thursday Express: JPMorgan breaks even on Bear Stearns; Santander plans growth

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Thursday Express: JPMorgan breaks even on Bear Stearns; Santander plans growth

* JPMorgan has finally broke even on its fire-sale acquisition of Bear Stearns from 11 years ago, and JPMorgan CEO James Dimon's stake has crossed $1 billion for the first time — not including options, other restricted shares and purchases — as JPMorgan shares have doubled since 2016, The Wall Street Journal reports.

* In an interview with American Banker, Santander Holdings CEO Timothy Wennes said the firm is ramping up its growth plans, which include steps to challenge financial technology companies and further build out its commercial lending business. As part of the growth plans, Santander will launch an unsecured consumer loan in early 2020 and roll out a national consumer deposit gathering platform.

* The Financial Times reports on Invesco's troubled year amid a troubled industry and its own problems. Along with the industry-related pressures, Invesco is facing its own specific troubles stemming from the integration of its $5.7 billion acquisition of New York-based OppenheimerFunds, clients' pullback from one of its main investment strategies, and its U.K. arm's troubles due to its association with Neil Woodford. All these issues led to Invesco being the worst-selling fund globally in 2019.

* A Voce Capital Management fund filed a requisition notice Dec. 20 that requires Argo Group International Holdings's board to hold a special general meeting of shareholders within 60 days from the date of the filing. The special meeting is being called to allow shareholders to vote on the replacement of five directors, who have already announced their plans to stand down, with five nominees.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.