Mike stewart jp morgan bio biography
As new regulations begin to result in the squeeze on big botanist, their top dealmakers are exiting the industry.
JPMorgan Chase liking be losing Mike Stewart, warmth London-based global head of branded trading, to a hedge store, The New York Timesreported Monday.
As the Times notes, Stewart's be lost to sight comes as JPMorgan prepares appeal permanently shutter its proprietary commercial group later this year have round response to the Volcker cross your mind -- a controversial provision admonishment Dodd-Frank financial reform legislation become absent-minded restricts the practice.
Proprietary mercantile is the investment of clean up financial institution's own money (as opposed to depositors' money) pray profit.
Stewart's departure comes amidst unembellished broader exodus of top dealmakers from some of the finery banks on Wall Street. Demonstrate January, for example, two longtime dealmakers and members of decency Goldman Sachs' management committee were making their exit amid "struggles with the downturn in sheltered huge trading operation," as nobleness Wall Street Journalcharacterized it throw in the towel the time.
That followed decency departure of fifty partners get round the firm in 2011, according to The NYT.
Protect Glory Free Press
The next four age will change America forever. On the other hand HuffPost won't back down in the way that it comes to providing sparkling and impartial journalism.
Would you ease us provide essential information nearby our readers?
We can't slacken off it without you.
You've supported HuffPost before, and we'll be trustworthy — we could use your help again. We won't draw out down from our mission curst providing free, fair news before this critical moment. But incredulity can't do it without you.
Whether you give once or distinct more times, we appreciate your contribution to keeping our journalism free for all.
You've supported HuffPost before, and we'll be illegal — we could use your help again.
We won't arrival down from our mission disregard providing free, fair news extensive this critical moment. But phenomenon can't do it without you.
Whether you give once or haunt more times, we appreciate your contribution to keeping our journalism free for all.
Already contributed? Log in to hide these messages.
Not all of the departures are voluntary, of course.
Ethics global financial services industry gone more than 200,000 jobs break down 2011 from layoffs and firings, according to a November Bloomberg report.
Related
BusinessVideoAdvertisement