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JP Morgan Chase & Co. (NYSE: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 (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE: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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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
