JPMorgan is reportedly cutting dozens of investment banking jobs in Asia Pacific, mainly in Greater China.
About 30 investment bankers in APAC are being let go at JPMorgan, according to a «Bloomberg» report citing unnamed sources, with the majority based in Greater China. Junior-leveled bankers are most affected and the cuts make up less than 5 percent of the total investment banking headcount in the region.
JPMorgan joins other global players, including US rivals Goldman Sachs and Morgan Stanley, in reducing headcount in the region and globally in the midst of slowing deal flows in investment banking.
