investment bank

J.P. Morgan announced the launch of a new iPad application that allows customers to access the investment Bank’s research from their iPads. The J.P. Morgan Research iPad app provides clients with reports and analysis from more than 1,000 analysts on economic indicators, markets, companies and asset classes around the world. With the application users can access content offline and receive instant alerts when new content they pre select becomes available.

UBS AG, Switzerland’s largest bank, has announced today the name of a new CEO of UBS Group Americas. According to the official statement starting from January Philip Lofts will lead the bank. Currently Philip Lofts works as a chief risk officer. Robert Wolf, a former CEO of the Americas will remain chairman of the region and president of the investment bank. 

Maureen Miskovic was appointed to the position of chief risk officer. She will be the first woman who joined the 13-member group executive board.

Goldman Sachs has launched a lawsuit against the French investment bank Natixis in London's High Court over three credit derivative transactions.

The filing relates to the situation about whether French investment bank Natixis can cancel a deal on three credit default swaps with Goldman, which is claiming damages for breach of contract.

The law firm for the French bank Stephenson Harwood said Natixis would defend itself vigorously.

"We are preparing our defense. We are surprised that Goldman is suing us," a spokesman for Stephenson Harwood said.

JPMorgan Chase & Co, the second-largest U.S. bank by assets, provided its financial data reporting the increase of its fourth-quarter profit to $3.3 billion from $702 million a year earlier, which was helped by strong results from its investment bank unit.

The bank reported that a quarterly profit was 74 cents a share, compared with 6 cents a year ago. Analysts on average expected 61 cents a share. The revenue posted by the bank was $25.2 billion.
 

 The administrator for Lehman Brothers Holdings Inc plans to seek permission to remove the claims against the bank from British courts and give out assets directly to creditors, the Wall Street Journal said, citing a joint administrator for the collapsed investment bank.

 JPMorgan Chase & Co. today announced senior leadership changes in its investment Bank and Asset Management businesses. 

Steve Black, co-CEO of the Investment Bank, will become Executive Chairman of the Investment Bank. Jes Staley, currently head of Asset Management, has been named CEO of the Investment Bank, reporting to Steve. Jes will continue to serve on the firm's Operating Committee. Mary Callahan Erdoes, CEO of the Private Bank, will succeed Jes as the CEO of Asset Management and will join the firm’s Operating Committee.