Banks could shed as much as 20 million square feet of office space over the next five years as they shift many functions to high-tech operations centers in markets with cheaper rents.
JPMorgan Chase denied a report in the German magazine WirtschaftsWoche that it's interested in acquiring a stake in Deutsche Bank, after the lender's share price slumped.
The Swiss bank allegedly hired Chinese officials’ friends and relatives to win business; JPM asked “several dozen” employees to consider moving from London.
Readers weigh in on inequality in financial services, opine on falling bank reputations, chime in on the evolving role of the chief risk officer and more.
JPMorgan Chase, which employs about 10,000 people in London, has asked "several dozen" employees to relocate across the European Union before the U.K. formally leaves the bloc in March next year.
The Consumer Financial Protection Bureau's practice of "regulation by enforcement" and use of nonbinding guidance materials makes its regulatory efforts "unfair and ineffective" to lenders and servicers, the Mortgage Bankers Association said.
