JPMorgan Chase (JPM) laid out a careful plan for a better 2014 on Tuesday, announcing both expense cuts and plans for growth as the country's biggest bank tries to recover from a year spent paying for past mistakes.

Chief Executive Jamie Dimon, Chief Financial Officer Marianne Lake and other senior executives presided over JP Morgan's annual investor day in New York, sketching out a strategy that involves more job cuts among its mortgages and consumer banking staff; rethinking the size and features of its branches; and relying even more heavily on its blockbuster asset-management business for growth across the bank.

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