JPMorgan
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Derivatives structurers are thriving, but regulators aren’t convinced the biggest Wall Street banks have a firm grasp of their complex exposure.
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As securities markets shift to T+1, repo is already going intraday with DLR the first of what may be many digital trading platforms to offer JPM Coin for the cash leg.
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Anything except a brief stay on as chairman would cast a baleful shadow over the chief executive’s successor at JPMorgan.
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If there were two areas for any investment bank’s Middle East advisory team to specialise in and prove all-round excellence in last year, they were the Kingdom of Saudi Arabia and outbound transactions. JPMorgan excelled on both counts.
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Exactly one year ago, San Francisco-based First Republic Bank was sold by regulators amid a US regional banking crisis. Citizens Financial Group, which had seen the sale as a chance to turbocharge its private banking ambitions, lost out to JPMorgan. But far from being the end of the story, that failed bid was just the beginning. Within weeks the bank had announced First Republic’s Susan deTray as the head of its new private bank, a unit that is now at the heart of a fast-growing wealth franchise.
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Junior bankers should relax about the threat to their jobs from AI and lean into opportunities to bluff their way to Wall Street glory.
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A move back up in rates is creating a PR battle among Wall Street banks. JPMorgan was punished for a cautious outlook, Goldman Sachs promoted strong fixed income trading results and Bank of America projected a Zen approach to rate moves.
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Euromoney Private Banking Awards: Hong Kong’s best for family-office services: JPMorgan Private BankJPMorgan Private Bank wins the family office award thanks to the quality and range of products, services and advice it provides wealthy Asian families.
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Euromoney Private Banking Awards: Hong Kong’s best for philanthropic advisory: JPMorgan Private BankJPMorgan Private Bank wins this award in recognition of its expertise and global connectivity in philanthropic advisory and services.
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Euromoney Private Banking Awards: Singapore’s best international private bank: JPMorgan Private BankJPMorgan Private Bank wins the international private bank award for the power, range and expertise of its cross-business capabilities.
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JPMorgan has been making a strong push in private banking in Europe, the Middle East and Africa over the past three years, substantially growing its numbers of advisers and clients, opening offices from Athens and Brussels to Copenhagen and Manchester, while taking advantage of its big technology budget to invest in new capabilities.
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JPMorgan Private Bank has unveiled a host of new services in recent years, targeting key clients across North America, as well as world-wide.
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The very best franchises serving family offices must get one thing right above all else: they must be able to deliver a customized offering that is sensitive to the particular needs of any client. The larger the institution, the more services it can deploy to do this, but the higher the risk of a cookie-cutter approach to clients, requiring them to adapt to the service provider rather than the other way around.
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JPMorgan’s wealth management business headed into the coronavirus pandemic with considerable momentum in high and ultra-high net-worth clients. It had only recently founded 23 Wall, a team to advise the biggest and wealthiest families on how to think strategically about the whole panoply of their private assets – everything from companies and property to sports teams and art.
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If JPMorgan Private Bank has one objective, it is to provide to clients that magic combination of an institution with the power of a global financial leader and the intimacy of a private-banking relationship. It is led by Mary Callahan Erdoes.
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For its mix of global capability with local expertise and philanthropic efforts, JPMorgan wins the award for Sweden’s best international private bank.
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The award for the best international private bank in the Nordics and Baltics goes to JPMorgan Private Bank this year. Among other things, the US lender impressed the judging panel with the philanthropic commitments it has facilitated for clients in the region.
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Few things matter more to investors than clarity and foresight. JPMorgan Private Bank's investment strategy team has established itself as an essential navigator, steering clients away from market pitfalls and towards opportunity.
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“Philanthropy is in our DNA.” So says JPMorgan Private Bank, which for more than 160 years has served as a philanthropy adviser and investment manager to many of the world’s leading charitable institutions and philanthropists.
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Traditionally, the route to acquiring new clients was achieved via the expansion of an adviser’s personal network. This was cultivated by doing the rounds, attending events and conferences, and through referrals. Business was steadily attained, then systematically, over years and even generations, retained.
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JPMorgan Private Bank says that it has “always been intentional about engaging future generations”. People are transitory and money can be too, but it doesn’t have to be. Any family knows wealth can be lost as easily as it can be won, and consistently falling on the right side of that equation means engaging the next generation, and the one after that.
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JPMorgan Private Bank clients enjoy the best of both worlds: an intimate relationship with a US lender that is allied to the power of a genuinely global financial leader. It is led by Mary Callahan Erdoes.
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Luring star bankers from rivals – like Citi’s appointment of JPMorgan veteran Viswas Raghavan – can bring hidden costs beyond the expense of replacing stock options for the lucky new hire.
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Chief executive Jane Fraser has been true to her promise of a marquee hire to run Citi’s banking division, with the appointment today of JPMorgan veteran Viswas Raghavan. He brings a wealth of both transactional and operational management experience, but the symbolism of his arrival may be just as important.
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Management changes expand the responsibilities of Marianne Lake and Jennifer Piepszak, lead candidates to one day head JPMorgan, but there is another contender.
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Opposition to the proposed Basel III endgame for US banks is now so widespread that a climb down by the Federal Reserve is likely. Wall Street bankers like Jamie Dimon can stop crying wolf about increased capital requirements and think carefully about publicly threatening their regulators.
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They already dominate the investment banking business in Europe, and now the leading US banks have their eyes on an even bigger prize. They see their vast investments in the digital technology transforming payments and transaction services and their retained global presences as the keys to winning even greater revenues from Europe’s midsize corporates.
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Siemens is anchor client for a new rules-based approach to banking.
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The annual Senate quizzing of US big bank chief executives threw up all the usual favourite partisan arguments, but little else. If this is oversight, it often lacks insight.
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Flexibility and parameterization are expected to become key differentiators for FX execution algos as the market continues to evolve. JPMorgan’s algo suite offers both in abundance.
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JPMorgan has expanded its footprint in the non-deliverable forwards (NDF) space, supporting pricing capabilities across a wide range of currencies including seven Latin American pairs (BRL, MXN, ARS, CLP, COP, PEN, UYU) as well as frontier-market currencies such as the Costa Rican colón, Dominican peso, and Guatemalan quetzal.
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JPMorgan’s global commercial real estate revenue grew to $806 million in the second quarter of 2023, from $642 million in the first quarter.
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Banks including NatWest and JPMorgan are struggling to put out reputational risk-management fires.
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BlackRock, JPMorgan and McKinsey are working on plans for a new development finance institution focused on Ukraine’s reconstruction. The project has already had to temper some ambitions, but its advisers still hope it can propel flows of private-sector money to Ukraine in years to come.
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Good banks do not collapse in times of turmoil. But the best banks do more than that – they are so buttressed against stress that when it strikes, they not only emerge unscathed but can act decisively in support of the whole sector. JPMorgan was that bank in March 2023, able to play that role because of its consistently superior performance.
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In the US, JPMorgan has 55 dedicated private banking offices, from Austin to Seattle, and Cincinnati to Fort Lauderdale. Elsewhere, it focuses heavily on serving high and ultra-high net-worth customers in Europe, where it has eight offices, including the UK and Germany, Asia, through Hong Kong and Singapore, and Latin America, with clients served out of Miami, New York and Switzerland.
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Jamie Dimon puts a limit on staff travel to one of JPMorgan’s more exotic branches.
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JPMorgan has cleaned up in a deal that sees the regulators waive their own cap on 10% deposit ownership.
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JPMorgan’s AI model to interpret central bank messaging came out just as it emerged that Jerome Powell had been pranked into discussing policy with Russian provocateurs. Euromoney’s distinctly obvious heuristics model (D’Oh!) might be needed.
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In a year of financial upheaval from all sides, JPMorgan Private Bank made things look almost easy.
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Of many information needs today, two of the most prominent for wealthy investors are insight and analysis that help guide them through volatile and uncertain markets, and identify opportunities to invest sustainably.
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Supporting its awards for the world’s best private bank and best for ultra-high net-worth individuals, JPMorgan’s power and penetration in serving North America’s UHNW segment – the largest globally by number of individuals and total value of wealth – makes it the clear winner in this category for the judges.
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JPMorgan Private Bank wins this year’s top award, as well as being named the world’s best private bank for ultra-high-net-worth individuals 2023, and the world’s best private bank for investment research 2023.
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Interest rate risk management has been complicated by the fall in yields after the US bailout of SVB’s depositors. Clients may feel that hedging chiefly benefits Wall Street dealers rather than themselves.
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Patents are a high-profile demonstration of a bank’s commitment to innovation, but they are not the only option for those looking to encourage new ways of thinking.
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The former CEO of Cazenove has written an intriguing reflection on his 23-year career at the storied London institution. It captures his view from the heart of the turmoil, but mostly steers clear of score-settling.
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More blue blood than bad blood at former chief executive’s book launch.
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The region’s advantage is likely to be short-lived and could fade by 2024, according to JPMorgan's private bank head.
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The chief executive of JPMorgan’s Onyx blockchain business explains why it has been a long slog, and where the interest lies today after the crypto collapse.
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Daniel Zelikow, chairman of JPMorgan Development Finance Institution’s governing board, on private-sector development finance, EM policy risk and funding bankable assets.
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DBS, JPMorgan and Japan’s SBI combined to launch a groundbreaking decentralized finance trade stewarded by the Monetary Authority of Singapore. It was a great deal of work, but to what end?
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This year has seen banks report markdowns on leveraged finance commitments and related exposures, something that is hardly surprising given what has happened to yields. But even with syndicates struggling to offload some high-profile big deals, the troubles seem oddly muted so far.
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Both HSBC and JPMorgan have recently boosted their digital trade finance offerings, as the ICC Centre for Digital Trade and Innovation commenced testing of digital trade systems between Singapore and the UK.
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UK pension fund hedges have failed the first real stress test in a new era of rising interest rates. Bankers are surprisingly relaxed about the implications for other threats to global systemic stability.
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Smaller firms are expected to pull back on expenditure as recession risk rises.
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More awareness by corporates of the role played by small suppliers has boosted early payment programmes.
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The US bank has reorganized its Latam wealth management business to focus on faster growing countries, but home bias remains a tough instinct to overcome.
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West Virginia state treasurer Riley Moore has opened another front in a campaign by Republican officials in the US against banks that promote ESG policies.
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Supposedly disappointing second-quarter earnings should have surprised no one and Morgan Stanley’s were quite good.
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JPMorgan is the standout winner of the award for the region’s best bank for advisory. According to Dealogic data, the firm advised on 22 completed M&A transactions in the year to the end of March 2022 worth a total of $66.51 billion, giving it a 34.2% market share. No other investment bank came close in terms of either deal volume or deal count.
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Something has been building at JPMorgan. For years, a common question in the industry has been: why isn’t the bank, for all its global strength, doing better in Asia? It has always been close to the top in Asian investment banking but rarely troubles Goldman Sachs and Morgan Stanley at the very highest table.
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Earlier this year, JPMorgan was named the best wealth manager in the US in Euromoney’s private banking and wealth management survey for 2022. It was also named as best for the ultra-high net-worth segment – classified as individuals or families with $30 million to $250 million in assets.
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The global wealth expert has expanded its vision, horizon and profits this year
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Not content with consolidating its position at the top of the SSA rankings, JPMorgan is increasingly working with public-sector clients in frontier markets.
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The blockchain-based cross-border payments platform will operate across 15 countries.
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The results of this year’s Euromoney FX survey highlight the value of long-term strategic investment in forex.
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Aggregate investment banking and markets revenues fell 12% at the big five US investment banks in the first quarter of 2022. Their chief executives were confident that dealflow will return, but were also united in their uncertainty over how central bank responses to inflation will play out in markets.
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JPMorgan is named the world’s best wealth manager in Euromoney’s latest private banking and wealth management survey. It is testament to the US bank’s global strength in serving the wealthiest families, along with its drive to constantly transform itself and boost diversity as it hires the most talented relationship managers in core markets.
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Wage inflation leads to substantial cost increases at major Wall Street banks.
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Wall Street firms such as Goldman Sachs, JPMorgan and Morgan Stanley are muscling in on the booming market for private share trading – and potentially disrupting existing technology platforms.
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Big numbers don’t always tell a story, but January saw one pop up in three different places. How they connect is intriguing.
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Having closed its onshore private wealth businesses in Brazil and Mexico, the US firm had a standout year in its Latin American private bank in 2021.
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The bank hopes to profit from the normalization it expected in 2021, if borrowing picks up and rates rise in 2022.
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Euromoney’s Mystic Maca has looked into the future and it’s all about getting things back to the way they were.
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Chief executive of commercial banking Doug Petno says advanced payments technology rather than lending is the key to winning mid-market clients.
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More financial institutions are moving into the banking-as-a-service market to tap into demand from corporates looking to offer multiple payment options and enhance customer loyalty.
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Andrew Cohen, executive chairman of JPMorgan Private Bank, talks to Euromoney about the war for talent, why diversity and inclusion have never mattered more, and what markets the private bank has in its sights.
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Nobody doubts that cross-border payments could be more efficient and less laden with intermediaries. But are JPMorgan and Oliver Wyman right to suggest that central bank digital currencies are the answer?
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JPMorgan Chase can be a winner in global digital retail banking according to Sanoke Viswanathan, the bank’s head of international consumer growth. With European expansion starting in the UK under the Chase brand and growth in Latin America through a stake in Brazil’s C6, Viswanathan insists his firm is in this for the long haul.
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JPMorgan’s move into the in-vehicle payments market reflects the ever-growing impact of financial technology on the automotive industry.
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JPMorgan’s chief executive packs just as much of a punch online as in person.
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Australia is not the first country that comes to mind with regards to climate action. But away from the political rhetoric, the exceptionally powerful superannuation funds and corporates are pushing change. The key is an acceptance that in Australia it’s all about transition.
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High net-worth individuals once eschewed cryptocurrencies. When Covid hit, many learned to embrace them. They see the danger of endless QE and the returns to be generated in the world of decentralized finance.
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JPMorgan wants to have fun being a disruptor, but persistently low valuations for even the strongest banks limit its options.
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The big six US banks are releasing the loan loss reserves they built up in the pandemic. Where might this end? The answer could be surprising.
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In a bumper year for Eurobond issuance, JPMorgan once again demonstrated the unrivalled breadth and depth of its debt capital markets franchise in central and eastern Europe.
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This year’s FX survey reflects huge disruption and transition across the industry. Pandemic-driven technological advances saw traders tackle a surge in business while working remotely – supercharging change that will permanently alter the way the industry operates.
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As football fans enjoy an action-packed European Championship, JPMorgan is advancing its project to dominate global sport financing.
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Buying robo-adviser Nutmeg is a bold and telling first step for the US bank’s new digital banking venture in the UK.
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JPMorgan’s new chief financial officer, Jeremy Barnum, is an unusual choice for a role that has become a springboard for greater things.
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With Goldman and AmBank behind it, Malaysia aims further afield with lawsuits.
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2020 was a breakout year for China’s financial and capital markets. The next 12 months could be just as busy, as regulators rush to approve a host of licences lodged by global financial institutions.
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European football is hardly a model of sustainability at the best of times, but JPMorgan is to be commended for its noble attempt to make it even worse.
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The US investment bank sidesteps an avoidable reputational own goal as a planned football European Super League collapses.
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JPMorgan’s blockchain units have launched a new validation solution called Confirm. It is another small step towards mainstream use of the technology in payments.
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Analysts are positive about sterling’s prospects over the next few months, figuring that monetary policy flexibility and attractive UK equity prices will outweigh any downward pressure from the European Union – whether trade or coronavirus-related.
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Buying a 10% stake in China Merchants Bank’s wealth management arm for $415 million gives JPMorgan greater access to China’s vast private wealth market. It is a deal that benefits both parties, and underscores JPMorgan’s quiet but concerted success story in Asia’s largest economy.
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The dinosaurs of the banking world have recognised the threat from crypto. While there is no simple choice yet for fast and cheap cross-border payments, near instant domestic payments are the new reality.
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Daniel Darahem has returned from Asia to take the reins of JPMorgan’s Brazilian business. He predicts that the coming decade will witness transformation at a speed never seen before for both the bank and the country.
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With the launch of new blockchain and digital currency business Onyx, JPMorgan hasn’t let Covid delay new ideas; in fact, the crisis has helped. Two years after a structural change in treasury services, the bank has updated its ambitions.
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Banner year for CIB helps pay for big provisions, while bank sticks to strategy of investing for growth.
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As the second wave of the coronavirus hits, The Hut Group may win from new lockdowns after completing the biggest UK IPO in five years and largest ever for a tech company.
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The world’s largest asset manager and banking leader work with Saphyre to take the pain out of custody and broker account opening for asset managers.
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Brazilian bank set to take in US firm’s domestic bankers and clients.
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The bank’s new Development Finance Institution could move the needle in helping developing economies meet the UN’s sustainable development goals. Euromoney talks to managing director Faheen Allibhoy and chair of the governing board Daniel Zelikow.
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JPMorgan was not the only bank that came into the Covid crisis with a strong balance sheet, but, as in 2008, the bank has shown that its diverse business lines and fortress balance sheet are what distinguishes it from the pack.
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It was not the only bank that came into the Covid crisis with a strong balance sheet, but, as in 2008, the bank has shown that its diverse businesses provide plentiful earnings to take big reserves, even while it keeps financing large corporates and small businesses alike. Deposits have flooded in, technology investments have proved their worth and it is winning more business from mid-cap clients inside and outside the US – and it coped with the temporary absence of a legendary chief executive.
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In a global health pandemic set to cost governments across the world billions of dollars, public-sector clients need a bank they can rely on to deliver uninterrupted access to funding.
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The greatest wealth transfer in history is taking place, as baby boomers pass the mantle – and their money – to a lucky few millennials, but the process is strewn with obstacles. Inheriting a lot of money is one thing, knowing what to do with it quite another. This is where good relationship managers come in.
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JPMorgan chief executive Jamie Dimon indicated that trading revenues could fall by 50% from their current elevated levels, but the boom has already helped to offset Covid-related loan provisions.
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UniCredit is the region’s best bank in this year’s Euromoney Awards for Excellence.
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The North American mergers and acquisitions advisory business has one obvious volume leader most years. This year is no different, but that doesn’t mean nothing else changes.
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This year the region’s best investment bank is JPMorgan. In a highly competitive year, the US bank claims the award because of the unrivalled breadth of its mandates across investment banking products, as well as its dominance in many of the region’s countries.
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The US’s PNC Financial Services and Royal Bank of Canada win the best bank accolades in their respective countries in this year’s Euromoney Awards for Excellence.
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BBVA is the big winner in Latin America in this year's Euromoney Awards for Excellence.
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After years of pullback from emerging markets by big Western banks, only two players can now claim to offer truly comprehensive investment banking coverage in CEE.
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JPMorgan is in discussion with more global banks, corporates and third-party service providers to join its Interbank Information Network.
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After brief illnesses, JPMorgan’s Jamie Dimon and Morgan Stanley’s James Gorman were back on form in this month’s earnings calls.
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Some parts of US investment bank earnings in the first quarter of the year looked more like boom than bust as record trading and debt issuance helped offset weakness elsewhere. Now the banks are building reserves to prepare for coming out of lockdown
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Global banks are finally getting full access to China’s capital markets. Regulators will let them own joint ventures outright as they roll out a host of services from forex to advisory to wealth management. For Beijing it’s a final frontier – and there’s no going back.
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JPMorgan had a strong first quarter for trading revenue, but its disaster windfall creates a dilemma over future bonus payments for key staff.
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JPMorgan chief executive Jamie Dimon has had a good start to the Covid-19 crisis, while his Goldman Sachs counterpart David Solomon is faltering.
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Banks came into the coronavirus pandemic much stronger than they went into the global financial crisis, but will the capital and liquidity buffers they have built be sufficient to see them through the most dramatic economic crash in history?
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It has taken the climate crisis to bring our collective focus onto the role of financing and the role of banks.
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JPMorgan doesn’t do things by halves; it has just moved almost everyone at the top of its investment bank and created what amounts to an internal boutique.
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UBS Global Wealth Management retains the top spot; JPMorgan is a standout, too.
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Pressure on wealth management profits will become fiercer in the decade ahead as low interest rates prevail. Business heads say global expertise, proximity to clients, technology and providing sustainable investing opportunities will help them win more business.
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Best Private Banking Services Overall Net-worth-specific services: Mega HNW (>$250m) UHNW (>$30mln-$250mln) HNW ($5mln-$30mln) Super Affluent ($1mln-$ 5mln) Capital Markets and Advisory ESG/Impact Investing Family Office Services International Clients Investment Management Next Generation Philanthropic Advice Research and Asset Allocation Advice Serving Business Owners Data Management and Security Innovative or Emerging Technology Adoption
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The Federal Reserve’s current balance sheet expansion is handing trading profits to big banks.
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FASB chair grilled by US lawmakers over implementation cost of new accounting rules.
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Dimon reluctant to add much to US trade comments.
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The world-leading bank aims to stay big with long-term investments, no matter what difficult conditions the market throws up.
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After a stellar year for emerging market bonds in 2019, the world’s largest EM bond house says returns don’t look so rosy for 2020.
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Will it be the banks that have built strong, steady relationships or those with big budgets that take transaction banking into the future?
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HSBC takes the top spot in Euromoney’s survey for the third year in a row.
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Cross-border instant payments gain traction, although the trend is not moving fast enough, say industry experts.
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What do you gift the JPMorgan employee who has everything? How about a piece of JPMorgan history?
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The dynamics of the US securitization market have changed beyond recognition, while the role of banks in ABS has evolved too. The excesses of the past have gone and securitization is now a safe and reliable funding tool for consumer lending. So why don’t banks want to talk up their role in the market?
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It's that time of year again, when we round up what senior management said about your business line in their quarterly earnings calls.
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European bank shares have sunk to levels not seen since 2008, and even some of the region’s bank CEOs admit it is hard to make a compelling investment case for them. Euromoney speaks to the people at the top about their potential to re-emerge as global leaders.
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The CEOs of JPMorgan and Morgan Stanley worry about the consequences of capital and liquidity regulation – and are not surprised that companies prefer to stay private.
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While transaction banking is one of the most innovative areas of finance, there is competition from big tech - and gaining market share is tough in a fragmented industry. How can banks stay on top?
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The head of channels, analytics and innovation for treasury services and head of blockchain initiatives for corporate and investment banking at JPMorgan says: 'The boundaries between technological innovation and product development are blurring.'
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Fixed income research consumers tell us which research teams have impressed them most during the past 12 months.
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Overall Credit Strategy Fixed Income Research (inclusive of all research) Actionable Trade Ideas
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HSBC retains the top spot in Euromoney’s cash management survey.
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The regulators want overnight rates to become the norm in all markets after Libor – that could be wishful thinking.
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Didn’t have time to go through your investment banking rivals’ results announcements? Don’t worry, we’ve done it for you, business by business.
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Libra is designed to improve on the slow, costly and painful process of transferring money across borders through the banking system, but Facebook faces a long fight to launch it.
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The firm’s clear global leadership today is the result of long-term strategic thinking and sustained and disciplined investment of strong earnings.
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Transaction services is an attractive business for banks finding it harder to make money in capital markets and M&A. This is evident in North America, where investment banks have been furiously investing in their cash management and trade finance businesses to get ahead of the game. Even Goldman Sachs is keen for a seat at the transaction banking table and is planning to roll out its own cash management services soon.
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DBS named world’s best bank in Euromoney Awards for Excellence 2019; JPMorgan is the world’s best investment bank; Erste’s Treichl recognized as banker of the year.
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JPMorgan today dominates the global corporate and investment banking landscape. The key to success? A long-term strategy led by group co-president and CIB chief Daniel Pinto, and a management team that keeps the business in a constant state of reinvention.
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The best bank for financing in Latin America is JPMorgan. The bank’s pedigree in debt and structured products isn’t news to anyone who works in investment banking, but in recent years the breadth of its offer has been enhanced by increased depth in client and product coverage.
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Superlatives seem tailor-made for JPMorgan Chase. It is the most profitable bank in the US, with record net income and record revenues in 2018 – a feat repeated in the first quarter of 2019. And its extraordinary overall performance is built on the unshakeable foundation of its US franchise, making it our choice this year as the US’s best bank.
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The Bank of England and Federal Reserve begin to build the bulwarks against Facebook's cryptocurrency Libra.
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Euromoney magazine has released the results of its 41st annual foreign exchange survey, the most comprehensive quantitative and qualitative annual study available on the FX markets.
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This year’s Euromoney FX survey results show up some important multi-year trends. The main lesson? Foreign exchange is more competitive than ever.
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Wealthy clients increasingly need international products and services. The opportunities are clear for those who can stomach the regulatory hurdles of cross-border business and who can leverage their retail or investment banking connections. Technology investments are crucial, but the competitive landscape is opening up.
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A case by Hong Kong’s ICAC against an individual on bribery charges is another example of Asia-Pacific regulators targeting the person as well as the institution.
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As part of Euromoney's 50th anniversary coverage, we profile some of the biggest names that we interviewed for our April capital markets focus.
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After so long, private bank clients and even retail investors are no longer happy with the returns from government bonds; instead, they are searching for yield and pushing up the value of risk assets.
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Firms are funding social and environmental projects on the one hand and fossil fuels on the other – it’s time to show they care.
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JPMorgan's JD is still down the pay scale compared with Christianity's JC.
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JPMorgan Chase to stop financing private prisons; Aspiration shows values-based banking model.
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The bank confirms focus on transaction banking by strengthening ties with its investment banking unit through new appointments.
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Staying committed to a region where deal flow sometimes stops overnight is tough for an international investment bank. Local firms and the few foreign competitors that have stuck around hope to benefit from any upturn in business. The in-and-outers might find it hard to get back.
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JPMorgan is trying to advance its master plan for global fintech domination with a discipline that is often lacking in a sector better known for wildly over-promising than actually delivering practical solutions.
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JPMorgan says that its new dollar stablecoins are collateralized against client dollar deposits but it also emphasizes its own strong balance sheet as surety.
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Banks hold a lot of art, but how can they justify owning valuable collections, which have no practical use, when their previous extravagances have left their stakeholders in such pain?
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UBS Wealth Management voted best global private bank; private banks expect revenues to grow, but at slower pace.
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Mary Callahan Erdoes of JPMorgan speaks to Euromoney about being the port in the storm during the financial crisis and opening up the private wealth market to the whole investment industry.
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President Donald Trump has pulled off the almost impossible task of making America’s banks look good, if not exactly great, again.
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The bank has gone from strength to strength and its tech firepower makes it hard to dislodge.
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JPM wants to become the top transaction bank in the world – Takis Georgakopoulos, global head of treasury services, tells Euromoney how the bank will do it.
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A strong third quarter from Morgan Stanley was the highlight of a mixed bag of numbers, while Goldman Sachs’ incoming CFO offered more glimpses of the future.
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In a country with twin deficits and a 13th bailout in recent memory, one might wonder if former JPMorgan banker Muhammad Aurangzeb regrets becoming Habib Bank CEO – but instead he sees a path to a better outlook for his country.
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With 75 banks signed up in late September, IIN is already approaching 100 banks convinced that blockchain is the best, safest and quickest way to resolve blocked cross-border payments.
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Morgan Stanley looks best in the third quarter, but was just pipped by Goldman over a longer term analysis
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Asia offers a unique client set of young entrepreneurs; it also offers the challenge of new generations inheriting wealth with different expectations from their predecessors. That is a great opportunity, but it requires private banks to be nimble, thoughtful and technologically adept.
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The world of cross-border payments in undergoing a digital transformation, which is set to eradicate long delays, friction and high transaction costs.
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Executive director of community innovation for JPMorgan
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Any important new market needs its innovators, cheerleaders and pioneers… As banks try to build more responsible and sustainable businesses, these are the champions of impact banking at 10 of the world’s biggest firms. From green and blue finance to financial inclusion and social banking, they are leading the way and setting an agenda for others to follow.
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Fixed income research consumers tell us which research teams have impressed them most over the last 12 months.
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Fixed income research consumers tell us which research teams have impressed them most over the last 12 months.
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For our 14th annual Real Estate Survey, we received 2,425 valid responses from real estate developers, advisers, financial institutions, investors and corporate end-users worldwide, rating who is best at providing real estate products and services in their market.
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Investors hoping new president adopts pragmatic approach; proposed referendum raises more questions than answers.
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The last instalment of our results analysis looks at banks’ markets businesses
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Day 2 of our look at the performance of the 12 big CIBs over the past year, this time focusing on the investment banking business lines
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With HSBC having reported on Monday, the last of the 2Q18 results are in for the 12 main global corporate and investment banks; now for part 1 of our number-crunch
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The smooth chief executive transition at Goldman Sachs will increase scrutiny on the potential succession to Jamie Dimon at JPMorgan.
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If JPMorgan CFO Marianne Lake becomes the banker most likely to succeed Jamie Dimon as chief executive before mysteriously deciding to pursue interests outside the group, she will be in good company.
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Good, sustainable returns for shareholders are finally in sight, 10 years after the global financial crisis.
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Banks face a payments dilemma of either collaborating with fintechs or developing systems in-house, and the same issue is now arising in the approach to regulation and the best way to digitize compliance.
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Euromoney magazine has released the results of its 40th annual foreign exchange ranking, the most comprehensive quantitative and qualitative annual study available on the FX markets.
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…if you’re big, fast or specialized in modern foreign exchange. That has led to dramatic changes in the volume-based rankings in our annual survey. Meanwhile, new customer satisfaction ratings give a different insight into the banks’ relationships with their clients.
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The findings of JPMorgan’s 2018 e-trading survey underlined yet again the importance of effective execution policies and systems.
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JPMorgan’s annual institutional e-trading survey shows rising appetite for mobile trading, but growth in algo execution has been slower than anticipated.
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UBS Wealth Management voted best global private bank; private banks more bullish on revenues; hiring to increase.
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While tax reform charges make a bad year worse for US banks, the timing of the law sets the scene for better results in 2018. But the fundamentals may not change: trading is bad, financing is good.
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Banks are booking big charges in the fourth quarter, but the domestic names are sitting pretty for the future as US taxes fall.
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No one doubts JPMorgan's global influence, but it still needs to fill some holes in its corporate bank
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Several trends emerge from the year-to-date league tables, and not everyone will like them.
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Banks face lawsuits over pay inequity as regulators now take diversity into their own hands.
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And the big three – State Street, JPMorgan and BNY Mellon – will only be stronger.
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Delegates at this year’s IMF/World Bank meetings are managing to look beyond macro concerns to present a more upbeat tone.
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As more retail and high-net-worth investors embrace cryptocurrency, lightly structured delta-one synthetics now allow institutional investors to allocate to a new asset class.
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Treasurers are exploring the investment options open to them in the face of continued low interest rates and money market reforms.
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As JPMorgan’s head of markets execution, David Hudson has an ambitious mandate to bring technological innovation and a willingness to fail to the heart of the investment bank, but why is he “obsessed” with Amazon?
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Euromoney magazine has released the results of the 2017 Fixed Income Research Survey.
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The automation of sophisticated treasury methods by assessing data flows is enabling expanding companies to reduce the uncertainty around cash flows and FX rates.
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The chief executives of US banks have spent so long complaining about regulations that they can scarcely believe their luck at the impending relaxation.
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The banking industry has stopped fretting about a full-on Brexodus of jobs to other EU cities outside of London and started worrying about what comes next.
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Euromoney has never before given an award in Afghanistan, but the story of Azizi Bank is compelling. Formed by an ethnic business group in 2006 and owned by Dubai’s Azizi Group, it took over the Development Bank of Afghanistan from the central bank in 2009, then India’s Punjab National Bank in 2014. It is Afghanistan’s largest commercial bank, with more than 140 branches and a million customers, and employs 2,300 people, 17% of them women, which does not sound a lot but matters in Afghanistan.
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JPMorgan wins Euromoney’s award for excellence in providing clients with financing.
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Investment bankers covering CEE breathed a sigh of relief last year as their market sprang back to life after two years in the doldrums. Eurobond sales from the region rose nearly 60% in the 12 months to March from a year earlier, according to Dealogic, while primary equity issuance more than trebled. The trend was less marked in M&A, which had proved more resilient during the regional downturn, but a 28% increase in transaction volumes was nonetheless welcome.
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The top firms this year look like they haven’t moved in 18 years. How can nearly two decades of upheaval appear to have altered the rankings so little in Euromoney’s foreign exchange survey?
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Overall market share Overall banks only Overall non-bank liquidity providers only Spot/forward market share Swap market share Options market share Emerging market currencies market share
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Euromoney magazine has released the results of its 39th annual foreign exchange ranking, the most comprehensive quantitative and qualitative annual study available on the FX markets.
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Completed Middle East M&A volumes more than doubled to $110 billion in this awards period, according to Dealogic – although the number of deals fell by about a quarter. Teva’s acquisition of Allergan made up around a third of the volume on its own. The purchase of a 19.5% stake in Rosneft by Glencore and Qatar Investment Authority made up another 10th.
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Commercial International Bank wins region’s best bank award; winners reflect year of reform and easing bank liquidity; record year for Gulf debt capital markets sees HSBC retaining investment-banking title, while local and international banks do battle for regional and domestic awards.
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It turns out that part of the reason Indonesia reacted so badly to the JPMorgan equities call was because it was downgraded more than Brazil.
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The two licences awarded to JPMorgan and Citi in the Chinese bond markets this week look like progress, but need closer examination.
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More than 2,000 private banks took part in the 2017 Euromoney private banking survey. See who’s up and who’s down globally, regionally and by country.
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With humanity’s challenges seemingly more urgent than ever, the world’s wealthiest are trading cheque-book giving for greater engagement. Not only should the world benefit, but so too those banks that help them with their goals. What role can the world’s leading private banks play?
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UBS Wealth Management voted best global private bank; new regional winners; private banks less bullish on revenues; non-bank competition a minor concern.
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Indonesia’s reaction to a bank’s tactical call on its equity markets helps nobody, including Indonesia and its investors.
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Last year was far from a vintage year for the big five US corporate and investment banking franchises, with almost no business lines seeing an overall increase in revenues in 2016, but the gains in fixed income sales and trading were enough to inch CIB division revenues up by 1.4% to $142 billion.
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JPMorgan’s decision to adopt a newly launched trade analytics service for its market-leading currencies business highlights the need for independent validation of execution quality in foreign exchange, according to the service’s co-founders.
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Cutting off a bank for an anodyne macro equities call is an over-reaction and a backward step.
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The increasing dominance of global investment banking by US firms is hard to ignore.
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The topic of Brexit was never going to be far from the minds of delegates at the annual meetings of the International Monetary Fund and the Institute of International Finance, both being held this week in Washington, DC. And on Friday afternoon, delegates got a chance to hear the views of three vocal US bank chief executives — Jamie Dimon of JPMorgan, Mike Corbat of Citi and James Gorman of Morgan Stanley.
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Results index Global All transactions 2016 2015 Bank Score 1 2 HSBC 6548 2 3 Citi 3830 3 1 Deutsche Bank 3116 4 13 Bank of New York Mellon 1728 5 14 Sumitomo Mitsui Banking Corporation 1536 6 8 JPMorgan 1534 7 5 Commerzbank 1359 8 4 Bank of America Merrill Lynch 1339 9 6 Standard Chartered 1305 10 7 Barclays 1303 11 9 Bank of Tokyo-Mitsubishi UFJ 1209 12 32 Industrial & Commercial Bank of China 1057 13 45 DBS Bank 1045 14 12 Wells Fargo 823 15 11 Bank of China 817 16 19 Societe Generale 721 17 18 Mizuho Bank 692 18 16 UniCredit 607 19 21 ADCB 605 20 15 RBS 535 21 10 BNP Paribas Fortis 504 22 Cathay United Bank 501 23 22 Yapi Kredi 355 24 UOB 352 25 ANZ Banking Group 340 26 23 ING Group 265 27 35= Agricultural Bank of China 251 28 29 Akbank 250 29 17 RZB 223 30 137= Bank Mandiri 218 31 42 Arab Bank 194 32 39 Bank of Communications 193 33 28 UBS 189 34 ATF Bank 188 35 208= Bank Central Asia 182 36 BNI 46 162 37 CIMB 156 38 38 Danske Bank 152 39 65= Banco BPI 144 40 208= Bangkok Bank 132 41 Siam Commercial Bank 126 42 40 Credit Agricole 122 43 34 BBVA 118 44 Hang Seng 116 45 41 Lloyds 114 46= 27 Garanti Bank 110 46= 74= Bancolombia 110 48 Bank Danamon 107 49 NAB 106 50 Bank of Nanjing 103
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US bank winds down GCF business; concern over BNY Mellon dominance.
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Asian developers dominate the 2016 Euromoney real estate survey, but the biggest changes are revealed among the global banks providing real estate finance.
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Phil Di Iorio, global chief executive of JPMorgan Private Bank, has announced he is retiring at the end of the year
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The fixed-income sales and trading business of the big US banks took a bath in the first quarter of this year, with revenues down by between 10% and 40%. But although not immune from market and geopolitical upheaval, the second quarter could not have looked more different.
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Banking in Argentina has been challenging in recent years. Increasingly stringent regulation has required banks to lend to certain segments at capped interest rates, while high inflation has complicated other transactional business. The banking system has, by and large, coped well with the poor business environment, and now (in private) bankers are optimistic about the money to be made in the country – from mortgages and retail lending to corporate loans, securitizations and capital markets.
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JPMorgan Chase wins best bank in the US; RBC Capital Markets and Bank of America Merrill Lynch pick up multiple awards; execution, CSR and digital are the new battlegrounds for financial institutions.
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Results index When it comes to managing the money of North America’s wealthy, one financial institution stands out. JPMorgan Private Bank wins this year’s award for North America’s best bank for wealth management. Behind it sits a bank, an asset manager, a brokerage firm, an investment bank and a trust company; together they manage a combined $650 billion in client assets.
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Austrian market leader Erste Bank posted another set of healthy results in 2015 but the standout story of the year, in terms of both growth and profitability, belonged to Bawag PSK. The private equity-owned bank saw its bottom-line result jump by 26% year-on-year to €418 million, giving a sector-beating return on equity of 16.2% on the back of higher core revenues, lower operating expenses and a dramatic reduction in risk costs.
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Not only does JPMorgan Chase invest its own philanthropic dollars more broadly across the world than any other bank, it also puts its financial expertise to work to help solve global social and environmental issues.
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Citi retains top ranking while Deutsche plummets; JPMorgan and UBS rise; top five market share at all-time low; non-bank FX providers make an impact on rankings.
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2015 runner-up climbs to top spot in overall categories.
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When Iran Air needed some Boeing spare parts before sanctions were lifted, JPMorgan took the US side of the trade. Why and how?
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UBS Wealth Management voted best global private bank; revenue outlook dimmer this year; asset management competition heats up.
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Extended results can be viewed here.
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For many of the largest private banks 2015 was a year of restructuring and geographical retrenchment. Only a few global players remain. This year looks set to be just as turbulent, but will clients put up with yet more change?
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Shareholders should be as worried by modest returns at the American market leader as by outright losses at Deutsche and other struggling European investment banks.
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Investors focus on exposure to oil; banks see no contagion yet.
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View full results index
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This column’s author had an inside view of the Chemical/Chase merger 20 years ago.
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The merger, 20 years ago, of Chemical and Chase ushered in the era of global banking. It was driven by competition from growing regional competitors, the threat of disintermediation, technological challenges, capital constraints, the desire to serve clients more efficiently and, above all, the need to boost returns to shareholders and unlock value. Those challenges sound all too familiar today. So why aren’t more banks looking at consolidation as a way to beat the post-financial crisis blues?
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The $5.6 billion of fines handed out to six leading foreign exchange banks will not be the end of the crisis afflicting FX, but it might be the beginning of the end. The people at the top of the industry are starting to think more deeply about what will drive success in the FX markets of the future. How can foreign exchange rebuild its zest, and its reputation?
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The headline results of Euromoney's 2015 foreign exchange survey show the leading banks have been remarkably consistent, despite the upheavals in the sector. But, beneath the surface there are changes that will transform the competitive landscape of the industry. Deeper analysis of the survey results demonstrates that’s already starting to happen.
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Citi retains top spot in Global FX as clients execute more than half electronically for the first time
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Soon after Bill Winters was appointed CEO of Standard Chartered, his highest-profile protégé from their shared days at JPMorgan also announced a new job.
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Best private banking services overall
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UBS pushed into second place; majority of private banks globally expect improved revenues in 2015.
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JPMorgan’s $100 million settlement of a currency manipulation lawsuit has sparked a flood of interest from potential new claimants, and marks a new victory in their fight for compensation, according to a leading lawyer involved in negotiations.
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Phil Di Iorio, CEO of JPMorgan Private Bank, talks about where his firm is seeing growth from around the globe.
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Richard Madigan, chief investment officer at JPMorgan Private Bank, shares his views on oil-price surprises, and euro-exit and geopolitical concerns for the year ahead.
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Revenues on the rise; More lending and discretionary mandates.
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View full results index
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View full results index
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Development beyond its US heartland has turned JPMorgan into a global player in wealth management.
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Madigan took on his role in April 2012 having joined JP Morgan in 2004. Before that he was head of emerging markets investments at Offitbank.
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The US bank earnings season kicked off this week with Bank of America Merrill Lynch and JPMorgan’s treasury services businesses delivering solid revenues to their corporate and investment banking divisions.
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Post-crisis, you can’t just run a bank in the interests of shareholders.