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

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note