Summary by Moomoo AI
JPMorgan Chase & Co. has filed a Current Report on Form 8-K with the SEC on May 15, 2024, to announce the reorganization of its reportable business segments. The reorganization, effective from the second quarter of 2024, includes the merger of the Corporate & Investment Bank and Commercial Banking segments into a single segment named Commercial & Investment Bank (CIB). The firm's other segments remain unaffected by this change. The report emphasizes that the reorganization does not represent a restatement of previously-issued financial statements and has no impact on the firm's previously-reported consolidated financial information. The supplemental financial information provided in Exhibit 99.1 is intended to help investors understand how the business segment results would have been reported in the past under the new structure. The reorganization aims to reflect the manner in which JPMorgan Chase's business segments are currently managed.