JPMorgan joins the ranks signing up to military code June 24, 2015 City initiatives to help ex-veterans are growing, Michael Bow finds FINANCIAL firm JP Morgan (JPM) last night became the first US investment bank to add its name to the UK Armed Forces corporate covenant, underscoring a new push by City firms to help ex-military personnel find work at a time of shrinking defence budgets in [...]
JPMorgan Chase vice chairman Jimmy Lee dies June 17, 2015 JPMorgan vice chairman Jimmy Lee has unexpectedly died, the company announced in a statement. Lee, a veteran banker involved in the industry for over 40 years, had led the company's investment banking arm and had recently worked on the record-breaking Alibaba IPO. Read more: JP Morgan’s lead over broking rivals increases In a statement chief executive [...]
London IPOs are down 43 per cent by volume from last year as JP Morgan wins battle of the bookrunners June 10, 2015 The volume of IPOs in London has hit $6.9bn (£4.4bn) so far this year – that's 43 per cent lower than this time last year. The 22 flotations which have taken place in London so far this year – which include Auto Trader's £2bn IPO, Revolution Bars' £100m listing and that hair-raising IPO of Integrated [...]
JP Morgan draws the line on staff voicemail to cut costs June 3, 2015 Many of JP Morgan's employees will no longer have voicemail once a new cost-cutting plan is rolled out. The bank is getting rid of the service, which costs $10 (£6.5) per month per person, because it says many of its staff simply don't need it. “We realized that hardly anyone uses voicemail anymore…we’re [...]
The banks which pay the biggest bonuses: Goldman Sachs, Morgan Stanley, Bank of America, JP Morgan and Citi May 27, 2015 US banks are paying their London staff a higher bonus on average than their UK counterparts. Goldman Sachs, Morgan Stanley, Bank of America, JP Morgan and Citi took the top five spots of a new survey by salary benchmarking website Emolument, while British-based banks HSBC and Barclays came eighth and 11th respectively. While there's no official data on banker [...]
US officials hand down multi-billion forex-rigging fine to UBS, JPMorgan, RBS, Citicorp and Barclays May 20, 2015 US officials have confirmed the multi-billion-dollar bill being paid by five of the world's biggest banks for their involvement in the forex-rigging scandal. JPMorgan Chase, Royal Bank of Scotland, Citicorp and Barclays will plead guilty to US criminal charges, paying a total of $5.6bn to settle the allegations that date back to 2007. UBS is [...]
JPMorgan profits rise beyond expectations in the first quarter April 14, 2015 During the first financial quarter of 2015, JPMorgan's profits reached $5.9bn (£4bn) – a 12 per cent increase on last year's figure of $5.3bn. This was equivalent to $1.45 per share, which beat analyst expectations of $1.41 per share. Revenue was also up, at $24.8bn – a rise of four per cent. It's the [...]
JP Morgan promotes London bosses Viswas Raghavan and Emilio Saracho April 13, 2015 A pair of JP Morgan’s top bankers in London were promoted to bigger global roles yesterday, indicating the sustained success of the Canary Wharf office. Emilio Saracho has been deputy chief executive of the corporate and investment bank (CIB) in Europe, the Middle East and Africa (EMEA) for two years, and is being promoted to become one [...]
Miliband’s romance web entangles top JP Morgan wonk April 12, 2015 Is all publicity good publicity? Not according to former BBC hack turned City economist Stephanie Flanders. The JP Morgan Asset Management strategist lashed out at the Sunday Times yesterday over a feature digging up a “web of romance” surrounding Ed Miliband’s former lovers (apologies, Reader, if you’re currently eating your breakfast). Flanders was named as [...]
JP Morgan joins forces with pharma giants to lead $100m dementia fund March 17, 2015 JP Morgan has partnered with the UK government to launch a new multimillion pound fund to encourage research into treatment for dementia. The New York-based investment bank said it had been working with the government to structure the Dementia Discovery Fund in such a way that it would make a profit for investors while funding research [...]