The reported reduction in headcount does not represent a change in strategy for the bank, source says.
Tag: JP Morgan
The Kingdom has appointed five international banks to act as market makers in a bid to boost its secondary debt market.
According to panellists, ETFs now represent 10% of the total credit market and this is only expected to grow further.
Latest funding round brings the total capital raised by the fintech to $97 million since 2018.
Both banks have seen senior traders depart for digital asset start-ups in recent weeks, as the crypto exodus continues.
Bank of America, JP Morgan and Morgan Stanley have all received multi-million dollar fines for activities relating to off channel communication on personal devices.
The banks reported a 61% and 55% fall in investment banking revenues, respectively.
Incoming president has spent the last 27 years of his career at JP Morgan, most recently as global head of linear rates and co-head of North America rates trading.
Initiatives focused on securities settlements between the two dealers, with specific emphasis on European markets as a prelude to the recently implemented CSDR regulation.
The move is in response to new guidance from the US Treasury prohibiting the purchase of new and existing debt and equity securities issued by a Russian Federation entity.