Michael Cavanagh

Michael Cavanagh News

  • Madonna, Daniel Craig Join Billionaires at Garden Party

    Madonna gave Cindy Sherman a smooch inside the atrium of the Museum of Modern Art last night as the dinner portion of its “Party in the Garden” fundraiser wound down.

  • JPMorgan Says Fourth-Quarter Trading Revenue Is Lower

    JPMorgan Chase & Co.’s fourth- quarter trading revenue will be slightly down from last year, according to Michael Cavanagh, who co-runs the bank’s corporate and investment bank.

  • JPMorgan’s Cavanagh Says Quarter’s Markets Revenue Is Rising

    JPMorgan Chase & Co.’s revenue from its markets businesses, which include trading of bonds and equities, is about 10 percent to 15 percent greater so far this quarter than the year-earlier period, a senior executive said.

  • FERC Power Limited, JPM Hearings, SAC Capital: Compliance

    The Federal Energy Regulatory Commission lacks authority over futures contracts, a U.S. appeals court ruled, handing a victory to the Commodity Futures Trading Commission and an ex-Amaranth Advisors LLC trader fined $30 million by FERC.

  • Wall Street Trading Desks Defying Second-Quarter Curse

    Wall Street banks, buoyed by record stock-market prices and high-yield bond issuance, probably will report a jump in second-quarter trading and investment-banking revenue from the same period a year ago.

  • Jamie Dimon Offers Illusion of Transparency

    The report that JPMorgan Chase & Co. released this week about its London Whale trading losses has some amazing omissions. It contains no mention of the Whale’s actual name, Bruno Iksil, or the names of almost anyone else who worked in the bank’s London-based chief investment office, which generated the $6 billion loss.

  • Why Did London Whale Swallow Only Half of Dimon's Pay?

    It sounds harsh. The board of JPMorgan Chase & Co. said today it is cutting in half the 2012 pay of Chief Executive Officer Jamie Dimon, following a review of trading losses. The board found that Dimon bears ultimate responsibility for the fiasco, which took place in the bank's chief investment office and cost the company more than $6 billion.

  • JPMorgan Said to Transform Treasury to Prop Trading

    JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon has transformed the bank’s chief investment office in the past five years, increasing the size and risk of its speculative bets, according to five former executives with direct knowledge of the changes.

  • JPMorgan Promotes Willsey as Investment Bank Shakeup Continues

    JPMorgan Chase & Co., the largest U.S. bank by assets, shuffled management around the world at its newly combined corporate and investment bank to take advantage of any rebound in capital markets.

  • JPMorgan Should Return More Capital to Investors, Peabody Says: Tom Keene

    JPMorgan Chase & Co. should return more capital to investors after buying back $500 million in shares, according to Charles Peabody , a partner and research analyst at Portales Partners LLC.

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