There are those who question whether JP Morgan should persist with its universal banking strategy of acting as a one-stop shop to its clients or instead break itself up to create more value. Actavis chief executive Brent Saunders isn’t one of them.

The question of whether JP Morgan should break itself up has arisen over the past few months, with a note by analysts at Wall Street rival Goldman Sachs in the first week of January assessing the potential shareholder value that could be unlocked by such a move.