London-listed JTC buys First Republic trust administration unit in JP Morgan carve out Banking London-listed firm JTC has struck a deal to acquire one of First Republic's trust administration arms from JPMorgan Chase for $21m.
JP Morgan profit surges on higher rates and First Republic purchase Banks JP Morgan’s profit surged above expectations to $13.4bn in the first quarter of this year, up from $12.6bn a year earlier, thanks to higher interest rates and its takeover of First Republic. Revenue for the bank totalled $42.6bn, above expectations of $41.9bn, while earnings per share sat at $4.44, compared to estimates of $4.11. Significantly, [...]
Big US banks JPMorgan, Citi and Wells Fargo to benefit from slower Fed interest rate cuts Banking JP Morgan, Citi and Wells Fargo will all update investors on their performance so far this year with attention likely to be firmly fixed on their guidance for the year.
JPMorgan chief Jamie Dimon warns of ‘stickier inflation and higher rates’ as markets trim Fed bets April 8, 2024 Jamie Dimon, the long-serving chief executive of JPMorgan Chase, has warned that higher government spending could result in stickier-than-expected inflation and higher interest rates in the US.
Rayner: Fear over Labour workers’ rights plans like ‘squealing’ over minimum wage April 1, 2024 Angela Rayner has said fears over her workers’ rights plans is similar to the “squealing” over the minimum wage law brought in by the party in 1999.
Citi’s investment banking market share drops to lowest level since 2000 February 27, 2024 Citigroup's share in the global investment banking market fell to its lowest level on record last year, according to new data, as investors demand for the bank to catch up to its Wall Street rivals.
Distressed commercial real estate debt outweighs reserves at six biggest US banks February 20, 2024 Commercial real estate has been an area of concern in the US for the last few years with the pandemic and the rise of flexible working denting office valuations.
Investment banks cut job vacancies in half as dealmaking slump hits recruitment and bonuses February 12, 2024 Major investment banks have cut their number of UK job vacancies in half over the last year as a dealmaking slump puts a strain on recruitment and bonuses.
Financial services should get out of London to find new talent, education secretary says February 6, 2024 Financial services firms should “get out more” to attract talent, Gillian Keegan has said.
Brit Marianne Lake tipped to succeed Jamie Dimon as JPMorgan boss January 28, 2024 British banking executive Marianne Lake is among the leading candidates set to take over from Jamie Dimon as chief executive of JPMorgan Chase after a reshuffle of the US giant's leadership.