“Jamie Dimon has long had a complicated relationship with private equity. Since taking over as chief executive of JPMorgan Chase in 2005, Mr. Dimon has gradually reduced the bank’s exposure to the risky business of buying and selling companies.

“On Friday, Mr. Dimon announced that JPMorgan’s last remaining private equity unit, One Equity Partners, would be spun out into a separate company and raise its next fund as an independent firm.

“The move comes as banks are facing regulatory pressure to reduce their exposure to risky businesses, but the divestment of One Equity, which manages $4.5 billion of the bank’s money, was not in response to that, according to a person briefed on the matter.”

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