Night Links: Is this a genuine photograph of Bruno Iksil? JPMorgan wants forceful risk staff

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Is this Bruno Iksil?

Is this Bruno Iksil?

Lunchtime links are very late today. They are not lunchtime links. They are late, late links. Sorry

We bring you, however, what may or may not be a photograph of Bruno Iksil - whom it emerged today has lost his job at JPMorgan along with Achilles Macris and Javier Martin-Artajo. Having had his compensation clawed back for the past two years, it seems Bruno may be keen to find a new job. He (or someone pretending to be him) has created a profile on LinkedIn, stating - among other things - that he's open to expertise requests.  We don't know if this profile is genuine: it may not be. We are not validating it. It includes a photograph of someone purporting to be Bruno. We are publishing it alongside this article. Assuming it really is Bruno, he looks pretty happy.

Separately, JPMorgan confirmed today that it has been hiring people for the CIO and, 'Enhancing talent and resourcing of key support functions.' 'Resources and talent' have been added in CIO risk, JPMorgan said specifically.

On the conference call accompanying JPMorgan's earnings, Michael Cavanagh CEO of the Treasury and Securities Services Business also said the risk team in the CIO hadn't been forceful enough and that they'll be getting more authority internally from now on.

As we've already noted, JPMorgan didn't do that well in the second quarter. Core revenues were, "soft across the board," noted analysts at Creditsights. Investment banking fees were down 35%;  fixed income revenues were down 17%, excluding DVA; equities revenues were down 9%, excluding DVA. However, giving ongoing weakness in Europe, Creditsights noted it could have been worse.

Ominously, maybe, JPMorgan completely omitted to add any guidance on the performance of the investment bank during the rest of the year from the relevant page (16) of its presentation. 


Persons working in JPMorgan's CIO were not paid according to a formula [ie. they didn't get a cut of their profits.] (WSJ)

Today, Douglas Braunstein put JPMorgan's CIO trading loss at $5.8bn. (WSJ)

Investment banks are hiring investment bankers in South East Asia. Goldman’s got a new head of South East Asian M&A based in Singapore. (Also WSJ) 

Sir Michael Rake would be willing to relinquish his roles at BT and easyJet and become chairman of Barclays. (Telegraph)