Credit Suisse is just the 'tip of the iceberg' as banking turmoil snarls financial markets, JPMorgan Asset Management investment chief says

• JPMorgan Asset Management's CIO predicts more pain ahead for the banking sector and the economy.
• Turmoil at Credit Suisse is just the "tip of the iceberg," JPMorgan's Bob Michele told Bloomberg.
• Michele says a recession is "inevitable" as panic ripples through markets. 

JPMorgan Asset Management Chief Investment Officer says the contagion that's gripped the global banking sector has just begun as turmoil erupts at Credit Suisse on the heels of the largest US bank failure since 2008.