Last $61.83 USD
Change Today +0.061 / 0.10%
Volume 11.2M
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As of 3:41 PM 03/3/15 All times are local (Market data is delayed by at least 15 minutes).

jpmorgan chase & co (JPM) Key Developments

Jpmorgan Names James Ferguson as New Head for Global Alternative Investment Services Unit

JPMorgan Chase has named James Ferguson as the new head of its global alternative investment services (AIS) unit replacing Stephanie Miller. Based in New York and operating within the custody and fund services unit of the bank's investor services business, the AIS unit provides administration, accounting and custody for hedge fund and private equity clients. In this newly created role, Ferguson will define strategic direction and product offerings, market coverage, investment prioritization, overall business and P&L decisions, according to a memo seen by MoneyBeat. In addition, he will also be responsible for continuously progressing client-facing technology build-out and enhancing client interaction to help improve profitability and establish alternative investment services as a market leader. Ferguson was most recently overseeing the firm's business control efforts in the global fund services management team. Miller was promoted as head of the global fund services business in August last year.

Senaat Hires HSBC, JPMorgan To Sell Unit Shares

Senaat is planning to sell shares in one of its units in 2015 after postponing its own initial public offering. Senaat hires JPMorgan Chase & Co. (NYSE:JPM) and HSBC Holdings plc (LSE:HSBA) for this process. Senaat is awaiting approval from the Abu Dhabi Executive Council, Senaat Chairman, Hussain Al Nowais told reporters at the Global Financial Markets Forum in Abu Dhabi. “Our initial strategy was to IPO the main holding company,” Al Nowais said. “Subsequently we have changed our mind. We are now looking at the possibility of IPO-in specific industries.” He declined to say which unit is being considered for an IPO in 2015.

JPMorgan Chase to Close 5% of Bank Branches

JPMorgan Chase is planning to close 300 bank branches, or about 5% of the total, over the next two years, as more customers move to online and mobile banking and the bank looks to reduce its overall expenses. The plans were announced as part of the bank's annual investor day conference. The closures are part of a $1.4 billion cost-cutting plan the bank initiated in 2015.

JPMorgan Appoints Kent Lawrence as Managing Director to Head the Southeast Group; Plans to Open First Public Finance Office in North Carolina

JPMorgan appointed Kent Lawrence as managing director to head the Southeast Group. Lawrence, who spent the past 15 years as the co-head of Citi's Mid-Atlantic Region, will report to Jamison Feheley, head of banking in public finance for JPMorgan. Lawrence will be opening JPMorgan's first public finance office in North Carolina, which will be based in Raleigh.

JPMorgan Chase & Co. Announces Redemption of €750 Million of Fixed/Floating Rate Subordinated Notes on March 31, 2015

JPMorgan Chase & Co. announced the XS0246862485 series of €750,000,000 fixed/floating rate callable subordinated notes will be redeemed on March 31, 2015. The entire outstanding principal amount of this series of notes will be redeemed. The amount payable upon redemption will be 100% of the principal amount of the notes, plus accrued and unpaid interest thereon (if any) to, but not including, the redemption date. Notice of this redemption will be dispatched through the relevant clearing systems within the notice period provided for this series of notes. Payment of the redemption amount will be paid upon presentation and surrender of the notes at the offices of The Bank of New York Mellon at One Canada Square, London E14 5AL, England.

 

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JPM

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Valuation JPM Industry Range
Price/Earnings 11.6x
Price/Sales 2.5x
Price/Book 1.1x
Price/Cash Flow 10.5x
TEV/Sales NM Not Meaningful
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