JPMorgan Hires New Managing Directors For Mid-Cap Investment Banking Division: Report

JP Morgan Chase & Co. JPM has reportedly appointed Humberto Garcia-Salas and Andrew Redmond as managing directors in its Mid-Cap Investment Banking division.

The move reflects its aim to bolster its investment banking segment, reported Reuters.

Garcia-Salas, who is a former JPMorgan executive, re-joins the bank from Greenhill & Co., where he spent nearly eight years, most recently as managing director. Redmond, a managing director at Guggenheim Partners, will join the bank later this year.

As per the report, last week JPMorgan also named Andrew Castaldo and Andrew Martin as co-heads of the mid-cap mergers and acquisitions unit.

In July, JP Morgan appointed Nazim Ali to lead Asia tech vertical in private bank, enhancing regional tech entrepreneur engagement.

In August, JP Morgan faced a lawsuit for allegedly placing customers’ idle cash in accounts with low interest rates.

Investors can gain access to the stock via iShares U.S. Financial Services ETF IYG and SPDR Select Sector Fund – Financial XLF.

Price Action: JPM shares are down 6.4% at $202.85 at the last check Tuesday.

Photo by Katherine Welles on Shutterstock

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