Jay Horine will head up North America investment-bank client coverage and will be global industry co-head for energy, power, renewables, metals and mining.
Shares of banks and other financial institutions fell slightly amid concerns about losses on bond portfolios. Bank of America was sitting on $105.8 billion of losses on a $614 billion portfolio. -September 27, 2023 at 05:53 pm EDT
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JPMorgan Chase 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. Rivas, who previously ran the financial institutions group, was one of JPMorgan's lead negotiators in its purchase of failed First Republic Bank in May. 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.