NYT: JPMorgan Names Co-Heads of Equity Capital
The New York Times reported JPMorgan Chase named two specialists in IPOs as co-heads of equity capital markets for the Americas, according to an internal memo reviewed by DealBook.
The New York Times reported JPMorgan Chase named two specialists in IPOs as co-heads of equity capital markets for the Americas, according to an internal memo reviewed by DealBook.
Reuters reported that JPMorgan Chase must face a lawsuit from shareholders accusing it of securities fraud by misleading them about its ability to manage risk, which surfaced when it lost $6.2 billion in the “London Whale” scandal.
Bloomberg reported that JPMorgan Chase’s Mike Cavanagh, who served as a close deputy to CEO Jamie Dimon for more than two decades, will leave to become co-chief operating officer of Carlyle Group.
Bloomberg reported Men’s Wearhouse agreed to buy Jos. A. Bank Clothiers for about $1.8 billion in cash. Bank of America and JPMorgan Chase were said to have committed $2.2 billion to support the deal.
Callon Petroleum announced the closing of an amended $500 million revolver and a new $125 million senior secured second lien term loan facility. JPMorgan Chase acted as administrative agent.
Reuters reported a whistleblower will be paid $63.9 million for providing tips that led to JPMorgan Chase’s agreement to pay $614 million and tighten oversight to resolve charges it defrauded the government into insuring flawed home loans.
The New York Times reported one of JPMorgan Chase’s heads of debt capital markets, Andrew O’Brien, will take on a broader role overseeing lending activity across the investment bank.
Reuters reported that according to a lawsuit filed in federal court, two senior officials at JPMorgan Chase repeatedly confronted Bernard Madoff over irregularities in his business, suggesting that the executives had “direct knowledge” of his Ponzi scheme.
Bloomberg reported JPMorgan Chase dropped Al-Rajhi Bank, the world’s largest Shariah-compliant lender, as a correspondent banking client amid a push to improve risk controls, according to two Bloomberg sources.
Reuters reported Oak Hill Capital hired JPMorgan Chase to explore a sale of Jacobson Companies in hopes of fetching as much as $700 million, according to Reuters sources.