JP Morgan’s Jamie Dimon to be deposed in Epstein case, plaintiffs’ lawyer says March 29, 2023 JP Morgan chief executive Jamie Dimon will be interviewed under oath in connection with the bank’s relationship with Jeffrey Epstein, the late sex offender and a former client, a lawyer involved in the litigation said on Tuesday. The deposition is expected to occur in early May, according to Brad Edwards, a lawyer representing women who [...]
JPMorgan sues former banker Staley over Jeffrey Epstein ties March 9, 2023 JPMorgan has sued Jes Staley, its former private banking head and later Barclays chief executive, accusing him of entangling it with sex offender Jeffrey Epstein, and saying Staley himself had been accused of sexual assault. The largest U.S. bank filed two complaints on Wednesday night in Manhattan federal court, where it is also defending against lawsuits [...]
JP Morgan’s Chase: ‘We haven’t entered the market just to be a small challenger’ March 8, 2023 JP Morgan’s digital challenger bank Chase has set its sights on becoming a major retail bank in the UK, even if it costs a lot, a top executive at the bank told City A.M. Shaun Port, managing director for everyday banking at Chase, said: “We haven’t entered the market just to be a small challenger.” [...]
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 [...]
City will be shaken up by AI – so we asked ChatGPT for an equities strategy February 1, 2023 Artificial intelligence and machine learning is set to transform trading over the next three years, a JP Morgan survey shows, as traders anticipate the potential for new technologies to shake up trading floors. Over half of traders surveyed in JP Morgan’s eTrading survey predicted that AI and machine learning will be the most influential technology [...]
US lawsuit alleges Jes Staley saw Jeffrey Epstein abuse young women – report January 18, 2023 A US lawsuit filed today has accused former head of Barclays Jes Staley of “personally observ[ing] the sexual abuse of young women” by Jeffrey Epstein. Staley is named in a lawsuit filed by one of Epstein’s victims, known as Jane Doe 1, who is suing JP Morgan for allegedly facilitating her sexual abuse. Staley was [...]
Dimon heralds ‘fortress balance sheet’: JP Morgan revenue up 17 per cent as interest rate boon continues January 13, 2023 JP Morgan beat expectations in its quarterly results, reporting increases in both income and revenue as higher interest rates continued to benefit the Wall Street giant. In the three months to December 31, JP Morgan reported net income of $11.0bn (£9.0bn), up from $10.4bn in the same period last year. The bank’s earnings per share [...]
How recession in the US is expected to affect bank earnings this week January 11, 2023 US earnings season kicks off later this week with a string of results from some of the country’s largest banks. JP Morgan, Citi Group, Wells Fargo and Bank of America will all release results on Friday in an interesting environment – to say the least. While higher interest rates have led to record levels of [...]
JP Morgan in talks over potential Freetrade takeover December 1, 2022 JP Morgan is reportedly gearing up to buy stock trading app Freetrade in a grand push to expand its fintech offering. According to initial reports from Mark Kleinman for Sky News, the City titan has been in talks with the British stock trading app, which allows customers to buy British, American and European stocks and [...]
City workers are ignoring ‘ego driven’ calls to return to offices November 29, 2022 City workers are ignoring calls from ‘C Suite’ executives for staff to come into the office for a minimum number of days each week, according to a new report. Workers and managers in the financial and professional services sectors are instead employing their own “bespoke” working models that align with their specific operational needs, the [...]