Top shareholder advisory firm U-turns to back JP Morgan pay plan after misinterpreting data May 11, 2023 Influential shareholder advisory firm Institutional Shareholder Services (ISS) has U-turned on its initial recommendation to reject the pay packages for senior executives at JP Morgan. Just last week ISS had urged shareholders to vote against executive’s pay packages. However, JP Morgan wrote a letter to the firm on Monday, arguing it had wrongly interpreted data [...]
City jobs surge in year after Brexit as Barclays, JP Morgan and Revolut accelerate recruitment February 6, 2023 Finance firms ramped up efforts to hire workers in the year after Brexit, with big banks Barclays and JP Morgan and fintech Revolut leading the charge, according to exclusive figures shared with City A.M. London banks, accountants and fintechs led the recruitment charge in 2022, offering more one in two of every vacancy in England [...]
JP Morgan settles with trader fired over wrongful allegations of market spoofing November 8, 2022 JP Morgan has settled with a trader, who was wrongly fired from his job for market spoofing, after the bank failed to pay a £1.58m sum awarded to him by an employment tribunal in January. Ex-trader Bradley Jones was awarded £1.58m after an employment tribunal ruled he was wrongly fired from his £220,000 a year job [...]
JP Morgan raises China growth forecasts as country braces for Covid-19 spike December 15, 2022 JP Morgan has hiked its growth forecasts for China, after the sudden removal of its ‘zero-Covid’ laws paves the way for a brighter economy. The US bank now expects China’s gross domestic product (GDP) to grow by 30 basis points to 4.3 per cent next year. “The most important development in the past month is [...]
Citigroup hires veteran JP Morgan dealmaker to bolster London team September 14, 2022 Citigroup has hired JP Morgan veteran Barry Weir as the new managing director of its London investment banking team. The veteran dealmaker, known for his expertise in natural resources, will join Citigroup’s London office in September, acco. rding to Bloomberg. Citibank’s poaching efforts come as the New York bank is seeking to bolster its UK [...]
Could JP Morgan boss Jamie Dimon run for President of the United States? Billionaire investor Bill Ackman thinks so June 1, 2023 Billionaire investor Bill Ackman has argued that JP Morgan boss Jamie Dimon should run for president after comments earlier this week suggesting Wall Street’s longest-serving bank boss would consider running. In a tweet, Ackman said “we need an exemplary business, financial, and global leader to manage through what is likely to be a critically important [...]
JP Morgan profits up 52 per cent as it benefits from SVB chaos with influx in deposits of $37bn April 14, 2023 JP Morgan reported a surge in profit in the first quarter and an increase in deposits as the Wall Street giant weathered turmoil in the banking sector to deliver record results. Profit at America’s largest bank soared 52 per cent to hit $12.6bn while its diluted earnings per share was $4.10, significantly ahead of consensus [...]
Return of loan loss reserves crimp JP Morgan profits July 14, 2022 Swelling reserves set aside to deal with a historic inflation surge raising the risk of US consumers defaulting on their debts has eroded investment banking giant JP Morgan’s profits, the firm announced today. Net income dropped 28 per cent in the second quarter compared to the same period last year, driven by a $428m (£360m) [...]
JP Morgan boss Jamie Dimon warns ‘crisis not yet over’ and against ‘knee-jerk’ response from regulators April 4, 2023 Jamie Dimon said today that the banking crisis is not yet over as he warned the regulators against making a “knee-jerk” response to the crisis. In a letter to shareholders, he wrote “the current crisis is not yet over, and even when it is behind us, there will be repercussions from it for years to [...]
JP Morgan’s investment banking fees could drop 50 per cent, executive says September 13, 2022 JP Morgan Chase’s investment banking revenues could drop by as much as 50 per cent in the third quarter of 2022, one the Wall Street bank’s most senior executives has warned. The bank’s president and chief operating officer Daniel Pinto said he expects JP Morgan’s investment banking fees to be 45-50 per cent lower than [...]