JP Morgan freezes donations to Republicans who contested election June 5, 2021 JP Morgan will resume making donations to US politicians but will snub Republicans who voted to overturn President Joe Biden’s election victory. The Wall Street giant was among a host of corporations that halted political donations following the deadly storming of the Capitol in January, which was spurred on by former president Donald Trump. Hours [...]
Exclusive: Meet the former UBS and JPMorgan heavyweights shaking up private banking May 28, 2021 As the economy is slowly switching into recovery gear, activity in the City and beyond is starting to pick up again. That is also the case for Vestrata, a relatively new fintech player that is taking the wealth management and private banking space by storm by bring machine learning and automated risk metrics into the [...]
Morgan Stanley shakes up leadership as race for CEO successor intensifies May 20, 2021 Morgan Stanley announced a number of leadership changes and set off a competition between potential successors to replace Chief Executive Officer James Gorman in the next few years. In a statement Gorman said the announcement “reflects the next generation of leadership at Morgan Stanley.” “I am highly confident one of them will be the CEO in [...]
JP Morgan Chase: Potential successors to Jamie Dimon move up as Pinto becomes sole president May 18, 2021 In a reshuffling of its top ranks, JP Morgan Chase has raised up two potential successors to chief executive Jamie Dimon while co-chief operating officer Gordon Smith will step down from his roles at the end of 2021. The two possible earmarked successors, Marianne Lake and Jennifer Piepszak, will take new roles as Daniel Pinto [...]
DCC boss hails ‘astonishing year’ as PPE demand boosts profit May 18, 2021 DCC appoints former JP Morgan investment banker as its next chairman
Brexit transfers: Barclays, Goldman Sachs and Morgan Stanley move senior City dealmakers to the EU May 14, 2021 Investment giants Morgan Stanley, Goldman Sachs and Barclays have started to move a range of senior bankers from their offices in Canary Wharf and the City to financial hubs across the EU. Ongoing uncertainty over the UK’s access to the EU’s financial services market, combined with pandemic damage and pressure from local regulators, has led [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 12, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Capital Group strengthens UK sales team Investment firm Capital Group, which has £1.7 trillion assets under management, has expanded its UK financial intermediaries team this week by hiring a new managing [...]
European Super League: JP Morgan boss admits investment bank failed to grasp football fans’ passion May 5, 2021 JP Morgan’s boss has admitted that the investment bank had failed to understand the passion of football fans when it agreed to finance the failed breakaway European Super League. Chief executive Jamie Dimon said the US banking giant had “kind of missed” the strength of feeling among football supporters before it agreed to fund around [...]
JP Morgan apologises for funding European Super League April 23, 2021 JP Morgan has vowed to “learn from” its experience with the failed European Super League, after committing £2.8bn to the controversial project. In a statement, the investment bank said: “We clearly misjudged how this deal would be viewed by the wider football community and how it might impact them in the future. “We will learn [...]
JP Morgan sustainability rating downgraded after funding Super League April 21, 2021 Sustainability ratings company Standard Ethics has downgraded JP Morgan’s rating after it was revealed to have funded the failed and controversial European Super League. Standard Ethics said it judged JP Morgan’s involvement in the project to be “contrary to sustainability best practices”, and as a result downgraded its corporate rating from “adequate” to “non-compliant”. The [...]