Latest news with #MaryCallahanErdoes
Zawya
3 days ago
- Business
- Zawya
JP Morgan appoints Claude Kurzo as asset management head for Middle East
JP Morgan has appointed former UK country head Claude Kurzo as its new Head of Middle East for its asset management division, effective immediately. Kurzo joined JP Morgan Asset Management (JPMAM) in 2012 and has held senior leadership roles in London, New York and Zurich, including Global Head of Strategy, Country Head Switzerland and Country Head UK. Before joining JPMAM, Kurzo worked for McKinsey in the Middle East and Switzerland. In his current role, Kurzo will report to Patrick Thomson, EMEA CEO at JPMAM. The investment bank said the appointment of Kurzo marks the next step for JPMAM as it seeks to expand its presence in the Middle East. Kurzo's appointment comes weeks after Mary Callahan Erdoes, CEO of the firm's asset and wealth management business said at the Qatar Economic Forum that the US lender was planning to add more than 100 staffers to its businesses across the Middle East in a bid to ramp up operations in the region. With the new hires, the bank's current head count of 370 employees will inch closer to 500 in the Middle East. (Writing by Bindu Rai, editing by Seban Scaria)
Yahoo
21-05-2025
- Business
- Yahoo
JPMorgan's Headcount in Mideast to Rise to 500: Erdoes
JPMorgan's asset and wealth management chief Mary Callahan Erdoes says the bank is planning an increase in its headcount across the Middle East, which will see an increase from 370 to 500 employees in the region in the next one to two years. She speaks to Bloomberg's Joumanna Bercetche at the Qatar Economic Forum 2025, powered by Bloomberg. Sign in to access your portfolio
Globe and Mail
21-05-2025
- Business
- Globe and Mail
JPM to Boost Middle East Presence With Hiring of More Than 100 Staff
JPMorgan Chase & Co. JPM is expanding its Middle East presence with plans to hire more than 100 staff to its businesses across the region in the coming years. The announcement was made by Mary Callahan Erdoes, CEO of JPMorgan's asset and wealth management business, at the Qatar Economic Forum in Doha. 'It is a very exciting time for everybody to be thinking about this', Erdoes stated. Details of JPM's Expansion in the Middle East JPMorgan currently operates across the Middle East region, including Abu Dhabi, Doha, Dubai and Riyadh. JPM's new hirings will increase its regional workforce from 370 to nearly 500 in the upcoming years, further strengthening its foothold. This move will enhance its ability to provide expanded financial services in the region. Similar to JPM, many other finance companies have been expanding their footprint across the Middle East, where many countries are undergoing multibillion-dollar investment programs aimed at remaking their economies and becoming less dependent on oil. In sync with this, on May 20, 2025, Bloomberg reported that Goldman Sachs GS is also boosting its Middle East headcount and exploring new office locations, joining other banks expanding in the region to tap its pools of capital. At the Qatar Economic Forum in Doha, Marc Nachmann, Goldman's global head of asset and wealth management, stated, 'The Middle East provides attractive risk/return opportunities.' The company continues to work with regional sovereign wealth funds on investment partnerships and expects to pursue further opportunities. Likewise, The Bank of New York Mellon BK, or BNY Mellon, has secured a license from the Ministry of Investments to establish its regional headquarters in Saudi Arabia this month. The strategic expansion of BK into Saudi Arabia aligns with Vision 2030, which mandates foreign firms to establish regional headquarters in the kingdom for accessing government contracts. JPM's Other Expansion Efforts JPMorgan is making efforts to expand its footprint in new regions with plans to open more than 500 new branches by 2027, with 150 already built in 2024, solidifying its position as the largest branch network in the US, covering all 48 states. Additionally, the bank is committed to renovating 1,700 existing locations by 2027 to enhance customer service and accessibility. JPM's Zacks Rank & Price Performance In the last six months, shares of JPM have gained 8.2% compared with the industry 's 3.9% growth. Currently, the company carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Goldman Sachs Group, Inc. (GS): Free Stock Analysis Report JPMorgan Chase & Co. (JPM): Free Stock Analysis Report The Bank of New York Mellon Corporation (BK): Free Stock Analysis Report This article originally published on Zacks Investment Research (
Bloomberg
20-05-2025
- Business
- Bloomberg
JPMorgan's Headcount in Mideast to Rise to 500: Erdoes
JPMorgan's asset and wealth management chief Mary Callahan Erdoes says the bank is planning an increase in its headcount across the Middle East, which will see an increase from 370 to 500 employees in the region in the next one to two years. She speaks to Bloomberg's Joumanna Bercetche at the Qatar Economic Forum 2025, powered by Bloomberg. (Source: Bloomberg)
Bloomberg
20-05-2025
- Business
- Bloomberg
JPMorgan to Add More Than 100 Staffers in Mideast Hiring Spree
By and Fiona MacDonald Save JPMorgan Chase & Co. is planning to add more than 100 staffers to its businesses across the Middle East in the coming years, joining a raft of Wall Street lenders looking to expand in the fast-growing region. With the hires, the bank's headcount in the region would reach about 500, up from 370 now, according to Mary Callahan Erdoes, chief executive officer of the firm's asset and wealth management business. The bank had just 100 employees in the region immediately following the financial crisis.
