New York-based JPMorgan is reportedly making a fresh round of investment banking job cuts in Asia, amid persistently muted deal flows.
JPMorgan has cut around 20 investment banking jobs in Asia, according to a «Bloomberg» report citing unnamed sources.
The cuts were made on Tuesday and they mostly affected employees at the associate and analyst level across the consumer sector, healthcare sector and private capital markets.
A downturn in deal flows, especially in Asia, has driven a number of global banks to reduce headcount. The latest move follow another round of job cuts in February that affected around 30 JPMorgan investment bankers in Asia.
