Latest news with #DougPetno
Globe and Mail
12-08-2025
- Business
- Globe and Mail
JPMorganChase to Present at the Barclays Global Financial Services Conference
Doug Petno, Co-CEO of the Commercial & Investment Bank, will present at the Barclays Global Financial Services Conference on Tuesday, September 9, 2025 at 10:30 a.m. (Eastern). The conference will be held at the New York Hilton Midtown in New York City. A live audio webcast will be available on the day of the conference at under Investor Relations, Events & Presentations. JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ('U.S.'), with operations worldwide. JPMorganChase had $4.6 trillion in assets and $357 billion in stockholders' equity as of June 30, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world's most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at
Yahoo
15-07-2025
- Business
- Yahoo
JPMorgan Chase launches Strategic Financing Solutions unit
JPMorgan Chase has launched a new division within its commercial and investment banking sector, with focus on tailored financing solutions across both public and private markets, reported Bloomberg. The initiative, referred to as Strategic Financing Solutions, will involve a collaborative effort among banking, markets, and sales teams, as outlined in an internal memo. The new unit will initially concentrate on structured private solutions, infrastructure finance, strategic asset-backed securities finance, merchant banking, and direct lending. Doug Petno and Troy Rohrbaugh, co-heads of the commercial and investment bank, noted in the memo, 'Financing needs are becoming increasingly complex while investors are seeking exposure to new markets.' They added that the team 'will focus on delivering alternative solutions to our corporate and sponsor clients.' Warfield Price, who leads general industries leveraged finance, and Masi Yamada, global head of corporate structuring, will jointly oversee the new group while maintaining their existing responsibilities. They will report to Kevin Foley, global head of capital markets, and Brad Tully, global head of private side sales and corporate derivatives, as per the memo seen by Bloomberg News. This move is intended to capitalise on the merging of public and private markets, particularly as more US firms opt to remain private for extended periods. An example of this trend is 3G Capital's intended acquisition of Skechers USA, for which JPMorgan provided advisory services in a $9.4bn take-private transaction announced earlier this year. This deal involved a combination of cash and debt, with JPMorgan facilitating two term loans, two notes, and a revolving credit facility. The newly formed business will also encompass JPMorgan's direct-lending operations, for which the bank allocated an additional $50bn earlier this year, following the deployment of over $10bn across 100 transactions since 2021. Recently, JPMorgan Chase appointed David Frame as the global CEO of its private bank. He previously served as the CEO of the US private bank. "JPMorgan Chase launches Strategic Financing Solutions unit" was originally created and published by Private Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
14-07-2025
- Business
- Yahoo
JPMorgan creates new unit to tap funding demand, memo says
(Reuters) -JPMorgan Chase has created a new unit aimed at providing alternative financing strategies to clients, according to an internal memo seen by Reuters on Monday. The new unit, strategic financing solutions (SFS) – comprising experts from banking, markets and sales, will initially focus on structured private solutions, infrastructure finance, strategic asset-backed securities finance, merchant banking and direct lending. "Financing needs are becoming increasingly complex while investors are seeking exposure to new markets," Doug Petno and Troy Rohrbaugh, co-heads of the commercial & investment bank, wrote in the memo. The new team will focus on delivering alternative solutions to their corporate and sponsor clients, while also providing access to transactions in both public and private markets to their investor clients, according to the memo. Warfield Price and Masi Yamada, two senior executives, will co-head the SFS group in addition to their current roles. They will report to Kevin Foley, global head of capital markets, and Brad Tully, global head of corporate derivatives and private side sales, who will oversee the initiative. The move to create a new unit comes at a time when banks are looking to tap into the rapidly growing private credit market, which has attracted increasing investor interest as companies seek funding outside traditional bank financing. Private credit refers to loans provided by non-bank lenders, which are typically made to risky borrowers or companies looking to finance mega buyouts with debt. Earlier this year, Goldman Sachs announced the creation of Capital Solutions Group to focus on financing large deals and providing loans to corporate clients. JPMorgan's plans for the new unit were first reported by the Bloomberg News. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14-07-2025
- Business
- Yahoo
JPMorgan Forms New Banking Team Focused on Bespoke Financings
(Bloomberg) -- JPMorgan Chase & Co. created a unit in its commercial and investment bank focused on bespoke financing structures across public and private markets. Why Did Cars Get So Hard to See Out Of? How German Cities Are Rethinking Women's Safety — With Taxis Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests The business, dubbed strategic financing solutions, will be a collaboration between banking, markets and sales, according to an internal memo Monday. It will initially focus on structured private solutions, infrastructure finance, strategic asset-backed securities finance, merchant banking and direct lending. 'Financing needs are becoming increasingly complex while investors are seeking exposure to new markets,' Doug Petno and Troy Rohrbaugh, co-heads of the commercial and investment bank, wrote in the memo, which was seen by Bloomberg News. The team 'will focus on delivering alternative solutions to our corporate and sponsor clients.' Warfield Price, head of general industries leveraged finance, and Masi Yamada, global head of corporate structuring, will co-lead the group in addition to their current roles. They'll report to Kevin Foley, global head of capital markets, and Brad Tully, global head of private side sales and corporate derivatives, according to the memo. The move is aimed at capturing both the convergence of public and private markets, with more US companies choosing to stay private for longer, and increasingly complex client needs. One example is 3G Capital's planned acquisition of Skechers USA Inc. JPMorgan advised 3G in its $9.4 billion take-private deal for the footwear maker, which was announced earlier this year. The transaction was a mix of cash and debt, and JPMorgan arranged two term loans, two notes and a revolving credit facility. The new business will house JPMorgan's direct-lending effort, for which it set aside an additional $50 billion earlier this year after deploying more than $10 billion across 100 deals since 2021. Foley said in an interview in February that JPMorgan aims to be 'product-agnostic' in its offerings to clients. Goldman Sachs Group Inc. made a similar move earlier this year, when it formed a capital solutions group to recognize the growing importance of private markets. 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Thailand's Changing Cannabis Rules Leave Farmers in a Tough Spot 'The Turbulence Is Brutal': Four Shark Tank Businesses on Tariffs Trump's Cuts Are Making Federal Data Disappear Trade War? No Problem—If You Run a Trade School ©2025 Bloomberg L.P.
Daily Mail
04-06-2025
- Business
- Daily Mail
List of JPMorgan candidates to eventually replace CEO Dimon
JPMorgan Chase is making moves behind the scenes to eventually replace its longtime CEO Jamie Dimon, who is expected to retire within five years. Dimon, 69, indicated in a Monday interview with Fox Business that he intends to step away from America's largest consumer bank in 'several years,' adding that he loves the job. On Tuesday, Bloomberg reported that JPMorgan put Marianne Lake in charge of strategic growth and the firm's international consumer bank. Doug Petno and Troy Rohrbaugh, who together lead JPMorgan's commercial and investment banking operations, are also vying for the top job. What Petno has going for him is his length of service. He's been at the bank for 35 years and has held numerous roles at the company. By comparison, Lake has been at JPMorgan for 25 years, while Rohrbaugh has been there for 20 years. Jenn Piepszak was a real possibility to become CEO several months ago. She effectively took herself out of the running when she accepted the COO job in January. Piepszak replaced former COO Daniel Pinto, who will serve as the company's president until he retires in 2026. Pinto, too, was once considered someone who could step into the CEO role, as he previously assumed those responsibilities when Dimon had to undergo emergency heart surgery in 2020. Mary Erdoes, CEO of asset and wealth management, is considered a dark horse in the leadership race. She has been at the firm for nearly 30 years. JPMorgan could surprise everyone and go with an outside hire, but that is very unlikely. Daily Mail reached out to the bank for comment. In April, the bank's Board of Directors identified potential successors to Dimon and all of them were internal candidates. Dimon himself was an internal hire. In 2000, he became the CEO of Bank One, overseeing that firm's operations until it merged with JPMorgan in 2004. He was first selected to be COO at JPMorgan before being hired as CEO in December 2005. All this jockeying at JPMorgan comes as Dimon made a headline-grabbing appearance Friday at the inaugural Regan National Economic Forum, where he talked with his usual brash candor about today's hot-button political issues. On a panel with CNBC's Morgan Brennan, he sounded the alarm about the ballooning national debt and warned that if the United States doesn't take its role as the world's sole superpower seriously, the US dollar could cease being the world reserve currency. He also advanced the idea that leaders at every level of government are bungling the country's future. 'The amount of mismanagement is extraordinary - by state, by city, for pensions, and that stuff is going to kill us,' he said. All these statements and more got Brennan to ask Dimon whether he'd consider running for office, a question that got many in the audience to gasp. 'What would be the scenario that you would entertain to consider public service?' she asked. Dimon paused for a beat, then said, 'Alright, ready? I'll tell you. If I thought I could really win, which I don't think I could.' That response apparently caught the eye of Jeffrey Sonnenfeld, a professor at the Yale School of Management, who wrote a lengthy article about why Dimon could be a dynamic choice to be the next president. Anthony Scaramucci, a financier who served as White House communications director for 10 days in 2017 before being fired by Trump, posted about Sonnenfeld's Tuesday piece in Fortune Magazine , calling it 'spot on.' Sonnenfeld argued that Dimon is a commanding presence and a sensible moderate who could, if he decided to run as a Democrat, unite a party that is in complete disarray. The conventional wisdom is that the Democrats are largely without a true leader after Vice President Kamala Harris lost to Donald Trump in November. A CNN/Gallup poll released on Sunday seems to bear that out, with just 16 percent of Americans believing the Democratic party has strong leaders. Sonnenfeld also cast Dimon as an unapologetic truth-teller even when it doesn't suit him, writing that this is a 'rare quality found only in the best leaders.' As an example, he pointed to a leaked recording of Dimon at a company town hall , where he launched into a foul-mouthed rant against employees who wanted to continue working from home. Dimon also has a realistic claim to the centrist label, Sonnenfeld wrote, as he criticized both Democrats and Republicans. Although Dimon, a registered Democrat, continues to praise Trump for growing the economy in his first term, he hasn't been shy to slam the president for his Liberation Day tariffs and his decision to establish a strategic bitcoin reserve. In January 2024, he was far more conciliatory, saying, 'Take a step back, be honest. He was kind of right about NATO, kind of right on immigration. He grew the economy quite well. Trade tax reform worked. He was right about some of China.' Back then, he was warning that Democrats' incendiary rhetoric about Trump and MAGA could cost them the upcoming election. Whether or not the Democrats' approach to Trump supporters was the main factor in them losing, the fact is, Trump cruised to a second term relatively handily. Sonnenfeld wrote that Dimon could be the antidote to Trumpism, essentially saying that while Trump plays the role of a titan of industry, Dimon is the real deal. He pointed to Trump's multiple business bankruptcies, despite inheriting nearly half a billion from his father, Fred Trump.
