Mike Stewart, who JPMorgan Chase & Co. picked last year to oversee a unit of traders being moved out of its investment bank, has left to start a hedge fund, according to two people with knowledge of the matter.
JPMorgan Chase & Co. picked Mike Stewart to head a proprietary trading unit the firm is moving from its investment bank ahead of U.S. restrictions on making bets for its own account, a person briefed on the decision said.
Kirkland & Ellis LLP advised Community Health Systems Inc., the second-largest U.S. hospital chain, which agreed to buy Health Management Associates for $3.9 billion in cash and stock. Weil, Gotshal & Manges LLP is representing Health Management Associates.
JPMorgan Chase & Co. may appoint Mike Stewart head of its proprietary trading unit and put $2 billion into the unit, which the company is transferring to its asset management division from investment banking, the Wall Street Journal reported, citing an unidentified person.