JP Morgan Chase Leader Among Bond Global Stock Underwriting Banks
The revenues achieved by banks, at a global level, through mitigating bonds issues have decreased by 9% to 496 billion dollars this year. Investors seem less willing to place funds in riskier assets because of the uncertainties about the pace of the world’s economic recovery. JP Morgan Chase maintains its leadership position. It is closely followed by Morgan Stanley and Goldman Sachs.
JP Morgan Chase leader among bond issues mediators
JPMorgan Chase & Co. has operations in 60 countries. It is a major provider of financial services with assets of $2 trillion, and the largest market capitalization and third largest deposit base U.S. banking institution behind Wells Fargo and Bank of America. The hedge fund unit of JPMorgan Chase is the largest hedge fund in the United States with $53.5 billion in assets as of the end of 2009. Formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co., the firm serves millions of consumers in the United States.
The JP Morgan brand is used by the Investment Bank as well as the Asset Management, Private Banking, Private Wealth Management, and Treasury & Securities Services divisions. Fiduciary activity within Private Banking and Private Wealth Management is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. The CHASE brand is used for credit card services in the United States and Canada, the bank’s retail banking activities in the United States, and commercial banking. The corporate headquarters are in New York City and the retail and commercial bank is headquartered in Chicago.
JP Morgan Chase has kept its leading position among the largest players in the issuance of stock brokerage revenue while almost 40 billion dollars is less than half of the result last year. Followed by Morgan Stanley and Goldman Sachs 38.6 36.3 billion dollars respectively.
Slowing global economic recovery has cut the impetus for companies to finance the capital market. It mattered very good segment development bond issues. However the third quarter brought a number of significant transactions: Agricultural Bank of China closely to the $ 22 billion of capital market and the Brazilian giant Petrobas last Thursday sold shares for 70 billion dollars, the largest rights issue in history.
Prospects for capital market financing may seem better once the advance indexes but also fears of debt crisis slowdown in Europe. GM could raise 20 billion dollars in November an initial public offering and intends to list the AIG life insurance division in Asia to $ 15 billion. The total volume of transactions in the mergers and acquisitions reached U.S. $ 1.678 billion with 21% more than in the first nine months of 2009.
JP Morgan Chase is one of the Big Four banks of the United States with Bank of America, Citigroup and Wells Fargo
76% Increase In Profits For 2010 Q2
Good times back on Wall Street! JPMorgan Chase profit rose 76% in the second quarter, up from $ 4.8 billion, well above estimates. Increased profit was driven by strong performance of the bank, and a reduction in reserves of 1.5 billion dollars.
Bank data also shows that the result has been given a shot of 550 million dollars of tax generated in the UK banking bonuses. President of JPMorgan, Jamie Dimon, said that the backlog continues to decline, but their level remains extremely high.11