Wall Street Bank agrees to make payouts to four regulators in compensation for derivative losses in 2012 costing $6.2bn
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Friday 04 June 2010
Outlook The £33m fine handed down by the Financial Services Authority to JPMorgan yesterday is quite some punishment, but it fits the crime. Astonishingly, for almost seven years this bank failed to keep the money of some clients separate from its own. At one stage, $23bn of customers' money was not held in segregated accounts.
Friday 04 June 2010
The City of London was on tenterhooks last night as it emerged that the Financial Services Authority (FSA) is preparing to hit a string of banks with eight-figure penalties after fining JPMorgan a record £33.3m fine for failing to keep as much as $23bn (£16bn) of its clients' funds separate from its own money.
Thursday 03 June 2010
Investment banking giant JP Morgan was fined a record £33.3 million today over its failure to ring-fence billions of pounds of client money.
Friday 30 April 2010
It is a few months prior to the collapse of Lehman Brothers, and the City is still flying high. Venetia Thompson, a well-spoken university graduate, finds herself working among the barrow boys of Essex at a brokerage firm on the upper echelon's of Canary Wharf's mirrored towers.
Thursday 15 April 2010
While the threat of profit- sapping financial reform looms on the horizon for the major investment banks, one of their number, JPMorgan Chase, showed that for now at least the good times are continuing to roll.
Thursday 25 March 2010
JP Morgan Chase, the retail and investment banking giant, is in line for a $1.4bn windfall from the US taxpayer, as a result of a little-noticed provision in an economic stimulus bill that went through Congress last year.
Monday 11 January 2010
The UK's financial services watchdog is to hit bankers earning more than £1m a year with a new tax that will apply to this year's bonuses, as it emerged that the US investment bank JP Morgan Chase is to defy calls for restraint by paying out bumper bonuses for 2009.
Friday 20 November 2009
Outlook It's been the longest of corporate courtships. The terribly traditional Cazenove has been cohabiting with JP Morgan in a joint venture for years, but only yesterday tied the knot.
Wednesday 30 September 2009
Bill Winters, one of London's most prominent investment bankers, is leaving his job as co-chief of the JP Morgan investment bank.
Sunday 27 September 2009
In our article, 'GMAC – Woolies' lender – puts UK book up for sale' (13 September 2009) we referred to an article published by the ICAEW about JP Morgan exiting the Asset Backed Loan market as a syndicator of loans. JP Morgan has asked us to point out that it is still participating in the ABL market and has not exited from the sector.'
Sunday 20 September 2009
Senior management at Cazenove and JP Morgan are thought to be close to agreeing a price for the blue-blooded City firm, which could see the American bank buy out the joint venture before the end of the year.
Tuesday 23 June 2009
Len Blavatnik, the Russian-born billionaire who last week pulled out of a rescue deal for Setanta, is embroiled in a bitter battle with his company's US investment adviser, JP Morgan Chase, which he says lost him $98m on toxic mortgage assets.
Tuesday 02 June 2009
JPMorgan Chase headed a new round of fundraising activity by US financial firms last night, saying it would sell $5bn (£3bn) in new shares to help repay the $25bn it borrowed from the federal government during last year's credit market panic.
Thursday 07 May 2009
A High Court judge yesterday told MF Global to pay damages of up to £20m to a former client who lost millions of pounds after being "ensnared in a web of deceit" spun by a former employee of the City brokerage firm, previously known as Man Financial.
Friday 26 September 2008
JPMorgan Chase and Co. Inc has acquired the assets of Washington Mutual Inc's banking operations after US federal regulators seized the ailing credit union.
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