Monday, 6 July 2015
Last updated 1 hour ago
Sep 1 2010 | 11:06am ET
JPMorgan Chase will shutter its proprietary-trading desk and has notified those desks’ employees that their jobs are being cut.
JPMorgan is the latest U.S. bank to decide the fate of its prop. trading operations; others, including Morgan Stanley and Goldman Sachs, are continuing to mull the future of those businesses. Under the recently-passed Volcker rule, banks are barred from trading their own capital.
JPMorgan’s proprietary trading desks are among the smallest on Wall Street. Its largest, a London-based commodity desk, employs only 20 people.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…