While tech banking has typically been dominated by Morgan Stanley and Goldman Sachs, JPMorgan has been uniquely positioned to scoop up the exodus of SVB bankers.
Lateral hires aren’t common at Goldman Sachs and Morgan Stanley has been focused on laying off 3,000 employees instead of hiring new ones.
Neither SVB or SVB Financial Group – which includes an Asset Management, Private Wealth, and Securities business – found a buyer and went into government receivership. Aggressive SVB bankers eager to grow their career have been forced to look elsewhere — and many landed on JPM in part because a handful of colleagues previously migrated to SVB in 2021.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Engineering a better salad for Silicon ValleyQ&A with Sanad Al Souz of Santa Clara’s The Good Salad, where the 40-plus customization choices include beets, lentils, candied pecans and the Good Glaze
Read more »
Election denier Jim Marchant enters U.S. Senate race, vows to protect Nevadans from Silicon ValleyMarchant endorsed false election claims including that all Nevada elected officials since 2006 had been “installed by the deep-state cabal.”
Read more »
Leadership Lessons From The Silicon Valley Bank DemiseBoards and executives across industry sectors can gain valuable lessons on the oversight of enterprise risk from what the Federal Reserve has described as a “textbook case of mismanagement’ by leadership at Silicon Valley Bank.
Read more »
Opinion | ObamaCare, Zombie Banks and JPMorganFrom WSJopinion: As Fed Chairman Powell and every other establishment stalwart inevitably is enlisted to prevent a Trump restoration, they might ask themselves why so many voters still feel the need to turn to someone like Trump, writes Holman Jenkins
Read more »
PolitiFact - Why are banks like First Republic and Silicon Valley failing? And how unusual is this?With the failure of First Republic Bank, the U.S. banking sector has experienced three massive failures within just a few weeks. What does this mean? And is there more to come?
Read more »