JPMorgan To Close Its Prop. Desks

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.


In Depth

Q&A: Portfolio Advisors' Brian Murphy On The Advantages of A Private Markets Platform

Jan 2 2018 | 11:05am ET

Most private markets firms reference their platforms as a source of competitive...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Steinbrugge: The Top Hedge Fund Industry Trends for 2018

Jan 2 2018 | 12:22pm ET

Each year, Don Steinbrugge’s Agecroft Partners compiles the insights gained...

 

FINalternatives Trending

From the current issue of