JPMorgan re-shuffles the deck

Investment bank re-jigs investment banking, as ECM and DCM move closer together.

JPMorgan has announced a series of internal moves to make its reporting lines simpler and capitalise on a stellar year in 2004. The most significant change will see Sean Wallace move from being co-head of Asian investment banking to a new role as head of Asian capital markets.

This is a division JPMorgan set up globally last year under Carlos Fernandez. Within this division, there will remain distinct equity capital markets ECM and debt...

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