JPMorgan Ramps up Hiring with 900 New Employees amid Surge in Investment Banking Profits

Money | July 13, 2024, 7:34 a.m.

JPMorgan's investment bank is experiencing a lucrative period, with the recent Q2 earnings report showing a $2.4bn increase in fees. Revenues in mergers and acquisitions, equity and debt capital markets have all seen significant year-on-year growth. Despite a less impressive performance in fixed income, the division's securitized products have been a saving grace. In response to the positive financial results, the bank has hired an additional 900 employees in the Commercial & Investment Bank unit. This increase is surprising considering the previously announced reduction in planned investment for revenue producers. With revenues on the upswing, it is likely that 'revenue-related pay' will also experience an increase. As the investment bank continues to thrive, the recent hiring spree may result in larger bonuses for employees.