Jamie Dimon, the chairman and chief executive of JP Morgan Chase, remains optimistic about the bank’s outlook but is wary of the challenge from “smart” rivals that are once again offering guaranteed bonuses to secure the talent required to compete in the investment banking sector.

Financial News revealed this week that banks including Citigroup, HSBC and UBS are among those to have offered guaranteed compensation packages to select new hires in a bid take advantage of the upset in financial markets and lure senior staff from rivals.