Troy Rohrbaugh was named co-CEO of JPMorgan's commercial and investment bank, known as the CIB, as part of an internal executive reshuffle, the company announced last week.
Banking earnings are out to kick off the season, and the profit centers, as well as contractions, can tell you a lot about the current state of the market
In an era where hybrid work is becoming the norm, JPMorgan Chase CEO Jamie Dimon seems to be swimming against the tide. With the recent news of the bank's request for managing directors to return to the office full-time, it's clear that Dimon's crusade to bring employees back in person is not only a sign of weakness but also exposes an inability to adapt to the evolving world of work.
The bank faced a lawsuit that said it gave fathers two weeks of paid parental leave and mothers 16 weeks, which it settled in 2019. This policy is another boost in leave at the bank.
Jan Hatzius, chief economist at Goldman, wrote in a note Sunday that the investment bank is predicting a fourth 25-basis-point rate hike in December of this year, up from an earlier projection of three.