Morning Coffee: Where J.P. Morgan will hire in IBD. Why investment bankers should join the Big Four

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J.P, Morgan is supposed to be cutting costs: $2.8bn of expenses are to be eliminated from the investment bank by 2017. In theory, this will lead to job cuts. In reality, J. P. Morgan seems to be hiring. And it seems to be doing so in Europe.

Vis Raghavan, J.P. Morgan's newly promoted deputy head of corporate and investment banking in EMEA informed the Financial Times that Europe's booming M&A activity is encouraging the US bank to target expansion in.Northern Europe. 'The UK, German-speaking Europe and France' will be subject to 'a lot of investment', said Raghavan. “The level of strategic thinking and activity [in M&A] is higher than we have seen for quite a few years," he added. We take this to mean that J.P. Morgan would like to hear from Northern European M&A bankers with an established client base.

Separately, Financial News hosted a discussion for senior corporate finance professionals at the Big Four. Subjects covered included accountancy firms' burgeoning appeal to investment bankers. Paul Lupton, head of Deloitte's UK corporate finance business, declared that he's seen a 50% increase in the number of CVs coming his way from investment banks. "Before, we used to get one call from a headhunter every few months; now I’m probably receiving two or three CVs every few weeks," Lupton enthused. - Not exactly an inundation, then. Dougald Middleton, head of the UK and Ireland advisory business at EY, suggested experienced investment bankers are drawn to big accountancy firms because they want to get in touch with their nurturing selves: "They want to come into an environment where they can build something and mentor people we already have in the business."


Senior compliance officer at Unicredit is also a semi-famous rock star. (Telegraph) 

Panmure Gordon is closing its Liverpool office. “It is the ebbs and flows of the business.”  (Financial Times) 

While others retreat from investment banking, Wells Fargo is expanding. (WSJ)

Deutsche Bank's supervisor board will decide on its business strategy next week. (Reuters)  

This is what happens when you work somewhere for too long. (HBR)  

These are the most powerful persons in Fintech. (Rise)

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