With all of the press hoopla surrounding JPMorgan and Jamie Dimon’s support of a “JPMCoin” project, analysts that follow the banking sector have been wondering where was the major competitor of JPMorgan, i.e., Citibank, positioning itself in the world of crypto innovation of the banking sector. Citibank has a reputation of being an innovator and…
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If you were even the least bit interested in all-things-crypto, and for that matter, in all-things-banking, then last week’s financial press mayhem following JPMorgan’s crypto announcement came off as a circus sideshow. Distractions abounded under the Big Tent. The stands were filled with crowding masses and unruly press patrons shouting praise and abuse, while hawkers…
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The cryptocurrency market has crushed big time, Bitcoin is falling down to $6,300 and its market capitalization is currently not more than $105 billion. This seems like a huge drop and hit to the whole digital coin market, as other cryptocurrencies are falling fast along the "people's currency". However, two of the biggest banks in…
Read moreMorgan Stanley's quarterly profit rose 61.7% to $1.52 billion from $939 million for the quarter ended September 30, while earnings per shares rose to 81 cents from 48 cents. Earnings per share from continuing operations was 80 cents, far above the average analyst estimate of 63 cents, according to Thomson Reuters. Adjusted revenue from sales…
Read moreThe French multinational bank and financial services company BNP Paribas (EPA:BNP) has recruited Mick Wiedrick from JPMorgan (NYSE:JPM) to join the lender’s New York syndicate desk. He steps into his new role in October. BNP Paribas has secured the services of one of the industry’s veteran bankers, with Mr. Wiedrick looking to focus on the…
Read moreJPMorgan Chase & Co. (NYSE:JPM)’s CEO Jamie Dimon is giving his employees a big raise. And don’t think that he’s doing this for his investment bankers… not at all. The bank company JPMorgan is raising its minimum pay for some overtime-eligible US employees from $10.15 to between $12 and $16.50 an hour. In an opinion…
Read moreCiti and J.P. Morgan were the first to confirm FX options trades through the new service, which is part of the MarkitSERV trade processing platform.
Read moreThe rights of customers cannot be subordinated to the self-interest of trader profit. The duties of financial institutions to those who entrust them with their investments must be respected. Where there is a failure of this responsibility, it must be clear that there will be accountability” - Michael D. Hausfeld
Read moreJPMorgan's 12% increase in profits for the first quarter of 2015 was driven by currency market volatility and emerging markets
Read moreA report by the Wall Street Journal states that JPMorgan, by contrast to many interbank FX dealers and market participants, recorded a gain of between $250 million and $300 million following the sharp appreciation of the Swiss franc on January 15 this year
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