JPM cutting 40 bankers in North America
Just came across. All levels affected. Sounds like a function of lower expected advisory revenues moving forward
Trending Content - Investment Banking Forum
| +190 | Evercore > Goldman and I don’t think it’s particularly close anymore | 65 | 21h |
| +157 | Article: Why UBS's Asian M&A bankers are thriving and UBS's American M&A bankers are not | 17 | 1d |
| +87 | Think Twice before Recruiting for HOUSTON IB!! | 44 | 8h |
| +86 | UBS Offer Day | 32 | 4h |
| +71 | I hate Wells Fargo | 19 | 1d |
| +52 | No return offer - feeling like a failure is an understatement | 21 | 11h |
| +49 | How cooked am I as an incoming WF IB SA 2027? | 17 | 1d |
| +47 | WF Return offers | 28 | 3d |
| +40 | 2026 Investment Banking Return Offer Climate | 25 | 1d |
| +39 | Should I go back into a junior IBD role for comp? | 16 | 3d |
Career Resources
Source?
(Bloomberg) JPMorgan Chase & Co. is cutting about 40 investment bankers in North America, as the Wall Street giant adds to international reductions amid a dealmaking slowdown.
The latest cuts span all levels of seniority, according to people familiar with the matter, who asked not to be identified discussing the plans for personnel. JPMorgan eliminated about 20 investment-banking jobs in Asia earlier this week, on top of a prior round affecting the region.
A spokesperson for JPMorgan declined to comment.
Rising interest rates and economic uncertainty have hampered investment-banking activity for more than a year. Rivals Goldman Sachs Group Inc. and Morgan Stanley have also eliminated thousands of positions in that time.
JPMorgan President Daniel Pinto said last month that the firm expects second-quarter investment-banking fees to decline 15% from the $1.7 billion it pulled in a year earlier. That itself was down 54% from the second quarter of 2021, at the height of a pandemic-fueled deal boom.
Can anyone at JPM speak to the groups/levels impacted with more specificity?
All levels, including multiple first and second year analysts in NY office
Isn’t 40 basically nothing given the size of JPM?
IB isn't as big as people think it is.
Vitae numquam impedit quisquam placeat. Consequatur quos provident optio sequi assumenda minus repellat. Ex voluptas incidunt unde adipisci ut iste illo.
Est voluptatem iste consectetur iste. Deserunt id magnam iure quis totam iste nisi. Maxime dolorem enim rerum reprehenderit tenetur. Quibusdam ducimus incidunt quasi accusantium. Rerum minima et similique corrupti in earum et.
Saepe fugit nam pariatur soluta non sit ex. Architecto temporibus doloribus quia. Cum voluptatem unde voluptatibus magnam quis facilis optio. Et consequatur tempore voluptatem et quis assumenda. Amet aut reprehenderit rerum error omnis exercitationem. Vel perspiciatis et tempora sequi perspiciatis mollitia ratione.
Fugiat animi aut autem error sit hic. Eos cum quisquam quo corrupti quos quasi nihil. Quasi quam omnis dolores ducimus.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...