Philip Scipio

1 week ago | zawya.com | Philip Scipio |Christopher Spink

JP Morgan is expecting volatility from the trade war unleased in April to drag down investment banking revenues in the second quarter but to boost trading. Investment banking fees in the April–June quarter are on track to be down “mid-teens [percent] – plus or minus” compared with a year earlier, depending on how the remainder of the quarter plays out, said Troy Rohrbaugh, co-CEO for the commercial and investment bank.

Jan 8, 2025 | zawya.com | Philip Scipio

Morgan Stanley elevated 173 employees to the rank of managing director, a 12% increase compared to 2024, when 155 employees were promoted. Larger money center banks also boosted the number of new MDs this cycle, as investment banking rebounded and fixed income and equity trading continued to show strength. In December, Citigroup named 344 new MDs – one of its biggest classes ever. Bank of America named 387 new MDs, up 16% from the prior year. Rival Goldman Sachs names new MDs every other year.