(Bloomberg) — JPMorgan Chase & Co. filled investment-banking roles that had been vacant and promoted two veteran managers to its executive committee of global chairs.
Charlie Bouckaert and Mark Marengo were named co-heads of North America diversified industries, reporting to the region’s investment-banking head, Fernando Rivas, according to an internal memo Friday. They replace James Roddy, who moved to JPMorgan’s commercial-banking unit in December to become global head of corporate-client banking and specialized industries.
The bank appointed Peter Engel and Erik Oken global chairs of investment banking, joining the executive committee to focus on courting top clients and mentoring younger bankers, according to a separate memo. That group, led by Carlos Hernandez, was created last year in a sweeping overhaul that also elevated a new generation of dealmakers to day-to-day management roles.
Engel has been at JPMorgan for more than 30 years, most recently as head of investment banking for the western U.S. after having helped expand the New York-based firm’s banking practice in that region. Oken joined JPMorgan in 1991, and most recently was global head of consumer retail investment banking.
Oken and Engel “have a rich history with the firm and our clients and colleagues will benefit greatly from their networks, strategic insights and market expertise,” Hernandez wrote in one of the memos.
In another move, Dana Weinstein was named head of a new coverage area — North America consumer, retail and business services investment banking — to replace Oken, according to a third memo. Weinstein was previously head of business services within the diversified industries investment-banking operation in North America. She’s been at JPMorgan for five years and has been an investment banker for more than 25 years, according to the memo.
“We are fortunate to have such strong senior talent and the ability to provide expanded leadership opportunities across groups,” Rivas wrote in one of the memos.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
