JPMorgan Financial News

The rating agency said rising funding costs, a possible decline in deposit levels and weaker profitability pose risks to the banking sector, which went through a crisis earlier this year after the collapse of three lenders. Moody's also warned it may cut ratings of some of the biggest U.S. lenders, and placed six of them under review for a potential downgrade.

The “orderly” pullback in US stocks last week has reduced the risk of a chaotic selloff and set the stage for further gains in the S&P 500, Citigroup Inc. strategists say.

Bulging sales of US Treasuries are about to deliver a major test of investor demand and determine whether a selloff has room to run as the market braces for the biggest round of refunding auctions since last year.

Investment bankers can expect another year of weak bonuses as Wall Street firms succumb to a global slump in dealmaking.

A group of senior executives from Wells Fargo Advisors with a $40 million war chest are planning to embrace a registered investment advisor aggregator and roll-up strategy, according to sources familiar with their plans.

By Bansari Mayur Kamdar and Johann M Cherian

There’s a new face at Perennial Partner’s Fairlight Asset Management.

MUMBAI : India is in a bright spot and seeing steady, long-term foreign investment inflows, ​according to P​.D. Singh, chief executive and managing director of corporate banking, India, at JPMorgan Chase Bank. In India, regulators have driven change by disruption and innovation, Singh said in an interview.

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Amazon.com will launch a credit card offering in Brazil, in a partnership with Brazilian lender Banco Bradesco SA, the bank's chief executive said on Friday, as the ecommerce giant pushes to expand its fintech offering. The launch is set for next Tuesday, according to CEO Octavio de Lazari Junior, adding that the bank will manage the card's credit risk, and the card will be powered by Mastercard.

CEO pay fell last year from the record levels set in 2021, but many chief executives, including those in financial services, take home more than 200 times the median figures earned by workers at their companies.

By Michelle Nichols

The state of Massachusetts is concerned about what it calls a growing and potentially unchecked use of artificial intelligence in the securities industry.

Massachusetts securities regulators have opened an investigation into the way investment firms use artificial intelligence in their interactions with investors in the state, citing concerns about the technology's growth and potential unchecked use. Massachusetts Secretary of State Bill Galvin, the state's top securities regulator, on Thursday announced that his office had sent letters of inquiry to a number of firms using or developing AI for their businesses, including JPMorgan Chase and Morgan Stanley.

Are things on the mend? When Goldman Sachs announced its second quarter results last month, it said it no new'unusual' job cuts were planned. HSBC reiterated this week that its grand cost-cutting program ended in 2022. Brian Bissonette, an ex-director at Merrill Lynch who now works for M&A execution platform Dealcloud, is letting it be known that his banking clients are saying their layoffs are over. 

Andrew Millward is a pretty good macro trader. After graduating from the University of Cambridge and the University of Oxford, he spent 11.5 years at JPMorgan and then a similar amount of time at Morgan Stanley. At the latter, he was both a managing director and the EMEA head of macro trading.

Paris is Europe's new and most shiny financial centre. And HEC is one of France's finest educational establishment for students looking for finance jobs. But HEC students still want to work in London most of all. 

Union AMC announced the appointment of Harshad Patwardhan as the Chief Investment Officer (CIO). From 2006 to 2016, Patwardhan served as the CIO of Equities India at JPMorgan (JPM) Asset Management, where he also was a member of JPM's offshore India equity team. Subsequently, he spent five years as the CIO of Edelweiss AMC before transitioning to Girik Wealth Advisors as the CIO. «We are delighted to welcome Harshad Patwardhan to our leadership team,» said G Pradeepkumar, Chief Executive Officer at Union AMC. «His deep-rooted understanding of Capital Markets and the investment process aligns perfectly with our mission to deliver consistent, long-term value to our clients. We are confident that his leadership will play a key role in enhancing the fund's performance and maintaining our commitment to creating value for our investors.» Patwardhan said, “I am excited to join Union AMC and look forward to working closely with the leadership team. I am confident that we can build further on the excellent work done by the investment team. I see a great opportunity to further enhance our offerings' quality, scale, and scope and work closely with our distribution partners to help our investors achieve their financial goals.”

In perhaps the shortest stint as a senior investment banker, Adam Penny is leaving JPMorgan to return to Westpac. He only left Australia’s fourth-largest bank, where he was head of M&A, in April 2021.

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Hong Kong’s notoriously expensive property market is often seen as a barometer of the city’s economy. It isn’t looking good. Home prices are down.