JPMorgan Chase & Co. announced on Wednesday its plans to grow its commercial bank in Malaysia in 2010 and boost the number of employees heading its treasury services operations within a time period of three years.

In a deal which will result in huge payouts to the investment bank's shareholders, JP Morgan is looking to buy the remaining 50% stake in its already 50% partner Cazenove, the Queen's stockbroker, in a deal which will cost the American bank nearly ?1 Billion.

Driven by a robust performance in its investment banking division, JPMorgan Chase Wednesday posted its third-quarter results, which - the bank's strongest ever since the economic took hold - surpassed the expectations of the Wall Street analysts.

With speculations galore about JPMorgan Chase's proposed management changes, the foremost question is whether an heir is being considered to replace Chairman and CEO Jamie Dimon. However, there are indications that the 53-year old banker will not be leaving his post anytime soon.

Bank of America and JPMorgan Chase, two of the nation's biggest banks, are reducing their overdraft plus other account fees.

It may be noted here that several big banks including Bank of America and JPMorgan Chase have been facing criticism for charging excessive fees.

The supposedly strongest player on the US financial scene, JPMorgan Chase & Co came up with a surprise move on Monday – it announced the slashing of its dividend by a whopping 87 percent – from 38 cents to 5 cents - and further added that “for the time being,” it intends keeping that level!