Saturday, 21st November 2009

 

JPMorgan makes top appointments as it rebuilds Bear wealth unit

JPMorgan has named two branch managers for its Bear Stearns private client services unit, as part of its rebuilding of the retail brokerage arm following its May takeover of the firm, according to a Dow Jones report.

JPMorgan said Donald Nejedly will head its Bear Stearns' private client services group in San Francisco while David Stafman will lead the group in Chicago.

Previously, Nejedly worked at Deutsche Bank for more than three years until October last year, and earlier served for more than two years at JPMorgan Securities, according to Financial Industry Regulatory Authority records. Stafman was previously head of Bear Stearns' institutional sales business in Chicago and worked at the firm until May this year, regulatory records show.

Brummel

Relocation, relocation, relocation

Banks have never been shy of firing staff at the merest whiff of a downturn. First the fat, then the muscle and finally the bone. In the past, cuts have been so deep that firms have found it hard to benefit when the markets rebounded, paying over the odds to restaff at speed. Such wild oscillations in staffing numbers are known as “doing a Merrill”.

Rich Monitor

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