Group of seven advisors and eight associates had overseen $1.7 billion in client assets and mark the fifth team to join First Republic this year.
JPMorgan Chase & Co.’s results were one more marker of the disconnect between ebullient markets and concern about the U.S. economy.
Advisor with almost 25 years’ experience was managing $200 million at JPMorgan’s White Plains office.
Antoine Souma, former $3 billion-asset Barron’s-ranked broker with a multi-million-dollar client settlement in his past, leaves wirehouse for unusual alliance with two independent firms.
Family team at J.P. Morgan Securities overseeing $385 million responds to wirehouse’s revived appetite for recruiting.
Adopts single payout (at top current grid rate) for all in its traditional (Bear Stearns) brokerage channel, makes more trades eligible for comp and caps fees on fund and annuities sales, effective July 1.
The firm is realigning divisional and regional leadership as it separates Chase’s wealth management and brokerage operations from its consumer banking business.
Gina Sorrells takes reins of J.P. Morgan’s Atlanta region after overseeing seven Merrill branches in Virginia, while Mike Maron relinquishes Chicago regional post for a regulatory policy role in New York.
JPMorgan Chase & Co. said first-quarter profit tumbled 69% to the lowest in more than six years as credit costs surged, giving investors a first glimpse at the extent of the damage Covid-19 is wreaking on bank results.