JPMorgan's sales and trading revenue will be down by 10% in the third quarter of 2021, while the investment banking fee boom is showing some signs of slowing down, according to Marianne Lake, its former chief financial officer.

Lake, who currently co-heads its consumer and community banking unit, signalled that the trading boom that supported large investment banks throughout the Covid-19 pandemic last year continues to slow. The bank will post a 10% decline on both the second quarter of 2021, and when compared to the third quarter of last year, she said.