JPMorgan presentation takes piece out of investment banks


Today's presentation by JPMorgan (JPM -1.6%) Corporate & Investment Bank co-CEOs Mike Cavanagh and Daniel Pinto is taking a slice out of Goldman Sachs (GS -1.9%) and Morgan Stanley (MS -2.2%), with Pinto talking about a continuing slowdown in markets activity thus far in 2014.

"It's just weather," says Jamie Dimon, commenting on the tough start to the year - not necessarily blaming the weather, but pointing out the passing nature of such trends.

Not discussed today is a WSJ report on the unexpected departure of the bank's chief compliance officer, Cindy Armine, after just about a year on the job. She's apparently moving to First Data Corp, run by former JPMorgan exec Frank Bisignano, who's recruited a number of former colleagues since exiting the bank in April. Armine's move is just the latest in a line of high-profile exits from JPMorgan. Her role will be filled on an interim basis by Lou Rauchenberger, chief administrative officer for the corporate and investment bank.

Some other IBs: Greenhill (GHL -0.8%), Evercore (EVR -1.1%), Lazard (LAZ -0.6%)

Earlier investor day coverage

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Comments (1)
  • Phr3d
    , contributor
    Comments (426) | Send Message
     
    "Armine's move is just the latest in a line of high-profile exits from JPMorgan"
    ayep.. 2013, a year to remember..
    25 Feb 2014, 08:36 PM Reply Like
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