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☆ JPMorgan profit beats estimates on record interest income, First Republic purchase
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Caitlin Ochs/File Photo Acquire Licensing RightsOct 13 (Reuters) - JPMorgan Chase (JPM.N) beat expectations for third-quarter profit on Friday as a tighter monetary policy and the acquisition of failed First Republic Bank drove its interest income to a record high. Shares of the bank rose 1.1% to $147.40 in premarket trading. Rivas, who previously ran the financial institutions group, was one of JPMorgan's lead negotiators in its purchase of First Republic. The lender's profit rose 35% to $13.15 billion, or $4.33 per share, for the three months ended Sept. 30. Excluding one-time costs, the bank reported a profit of $4.50 per share, above analysts' average estimate of $3.96 per share, according to LSEG IBES data.

Persons: Caitlin Ochs, JPMorgan Chase, Jamie Dimon, Dimon, NII, SoftBank Group's, Jeremy Barnum, Fernando Rivas, Rivas, JPMorgan's, Jay Horine, Wells Fargo, Niket, Nupur Anand, Lananh Nguyen, Anil D'Silva Organizations: JPMorgan Chase Bank, REUTERS, JPMorgan, Bank, First Republic, First, Federal, Arm Holdings, Investment, Reuters, Thomson Locations: New York City, U.S, Ukraine, Israel, First Republic, North America, Bengaluru, New York

☆ Exclusive: JPMorgan shuffles bosses as Rivas to retire as head of North American investment banking -memo
▼ + stars: | 2023-09-26 | by ( Nupur Anand | Thomson Reuters | Nupur Anand Is A U.S. Banking Correspondent At Reuters In New York. She Focuses On Jpmorgan Chase | ) www.reuters.com time to read: +1 min

REUTERS/Mike Segar/File Photo Acquire Licensing RightsNEW YORK, Sept 26 (Reuters) - JPMorgan Chase (JPM.N) reorganized the leadership in its investment bank, promoting a new head in North America to succeed Fernando Rivas, who plans to retire, according to a memo seen by Reuters. He will be replaced by Jay Horine, who is currently the global industry co-head for energy, power and renewables, metals and mining (EPRM), according to the memo. Horine will also continue to be the global industry co-head of EPRM. The bank also appointed several global heads for industry groups reporting to Jim Casey and Vis Raghavan, who jointly lead global investment banking, effective immediately. Chandarana was previously chief data and analytics officer for the corporate and investment bank.

Persons: JP Morgan Chase, Mike Segar, JPMorgan Chase, Fernando Rivas, Rivas, JPMorgan's, Jay Horine, Horine, Jim Casey, Vis Raghavan, Samik Chandarana, Chandarana, Nupur Anand, Lananh Nguyen, David Gregorio, Mark Porter Organizations: JP, Co, REUTERS, JPMorgan, Reuters, Bank, Thomson Locations: New York, North America

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