• 14 May 2009 at 2:06 PM

Layoffs Watch ’09: JPMorgan

By

Layoffs are said to be going down for investment bankers at the House of Morgan circa now, so far apparently affecting Natural Resources and FIG. While this is deeply upsetting, given the ban on congratulatory plaques for deal teams, one might ask what’s the point of taking part in this racket anymore. More details as we get them.
Update: Associates in SLF (Syndicated & Leveraged Finance) added to the mix.

    Sign up for the Dealbreaker newsletter

    Subscribe to our free daily email and get breaking news, financial headlines, commentary, and analysis from Dealbreaker.

    — Advertisement —

    Comments (44)

    Older Comments
    1. 1
      Posted by guest | May 14, 2009 at 2:13 PM

      I am a PM at a multi billion dollar fund, what is FIG??

    2. 2
      Posted by guest | May 14, 2009 at 2:15 PM

      Too FIG, Didn’t Newton

    3. 3
      Posted by guest | May 14, 2009 at 2:16 PM

      @1- at JPM, it’s Financial Institutions Group (FIG).

    4. 4
      Posted by Investorcluzo | May 14, 2009 at 2:20 PM

      @3 – I believe @1 was a joke/sarcasm. is marty dolan still around? what level is getting whacked?

    5. 5
      Posted by guest | May 14, 2009 at 2:22 PM

      No lucite for you!!!

    6. 6
      Posted by guest | May 14, 2009 at 2:26 PM

      Props to @2….very quick! By the way, Newton got whacked 25 large in the South Sea Bubble. He wrote about it, too. Sorry for the long link. See:
      http://books.google.com/books?id=3ngEugMMa9YC&pg=PA861&lpg=PA861&dq=isaac+newton+loss+south+sea+bubble&source=bl&ots=rB5oQ9pKtT&sig=_XLBvj2Mlogae8Dd_ydpqE9f9kM&hl=en&ei=8WEMSsjOF4ig8gTasYTRDw&sa=X&oi=book_result&ct=result&resnum=3

    7. 7
      Posted by guest | May 14, 2009 at 2:26 PM

      Financial Instituations & Government

    8. 8
      Posted by guest | May 14, 2009 at 2:26 PM

      I would rather bang LOBSTERCLOPS in the ass than be from Texas.

    9. 9
      Posted by guest | May 14, 2009 at 2:28 PM

      @8: Those of us in Texas could not agree with you more. Have at it!

    10. 10
      Posted by guest | May 14, 2009 at 2:29 PM

      Did I miss it when wideclops morphed into lobsterclops? Or is this just wrong.

    11. 11
      Posted by guest | May 14, 2009 at 2:29 PM

      The Ainsworth Penny (in the ad)? Yes or no?

    12. 12
      Posted by guest | May 14, 2009 at 2:31 PM

      @9 well played?

    13. 13
      Posted by guest | May 14, 2009 at 2:32 PM

      @1 – sorry

    14. 14
      Posted by guest | May 14, 2009 at 2:34 PM

      What ever happened to the American dream of moving to Texas and killing it at Credit Suisse Houston?

    15. 15
      Posted by guest | May 14, 2009 at 2:45 PM

      Rumors of my death have been greatly exaggerated. Unlike me TGFD really is dead. He died 3 weeks ago.
      The turds running around DB claiming to be TGFD are impostors.
      l8r
      - Snake Plissken

    16. 16
      Posted by guest | May 14, 2009 at 2:49 PM

      Who got canned? Names plz.

    17. 17
      Posted by guest | May 14, 2009 at 2:51 PM

      @ 16. Are you serious? What happened to him?

    18. 18
      Posted by guest | May 14, 2009 at 2:51 PM

      FIG, what a joke at JPM
      Only 4 FIG bankers were picked up from Bears 20 FIG bankers…
      2 were on contract and were zero producers in 2008, who I am sure are toast today….
      The others were political, again zero deal-flow, and 1-2 jr guys who probably got killed today too
      This should be the last of Bears’ ethnic cleansing

    19. 19
      Posted by guest | May 14, 2009 at 2:51 PM

      What is severance package?

    20. 20
      Posted by guest | May 14, 2009 at 2:54 PM

      @6 Nice reference, but me thinks 2 had over more “cookieish” things on their mind.
      -not 2

    21. 21
      Posted by guest | May 14, 2009 at 2:59 PM

      @18 Cerebral something or other. He didn’t suffer.

    22. 22
      Posted by Lowly Assistant | May 14, 2009 at 3:12 PM

      Is it true that Snake and Bess are going together?
      -Disheartened in Downtown

    23. 23
      Posted by guest | May 14, 2009 at 3:15 PM

      How big is FIG?
      40-60 bankers?
      Is it real IB or like BA/Citi/DB with corp. commercial bankers thrown in to co-cover?

    24. 24
      Posted by guest | May 14, 2009 at 3:17 PM

      I did have cookies in mind indeed
      - Def # 2

    25. 25
      Posted by guest | May 14, 2009 at 3:19 PM

      @23 Lowly.
      We’re working on those 27 mini snakes. She hasn’t said she loves me, yet …
      l8r
      – Snake Plissken

    26. 26
      Posted by guest | May 14, 2009 at 3:25 PM

      @ 22. How do you know?

    27. 27
      Posted by guest | May 14, 2009 at 3:27 PM

      @27- b/c it’s a joke?

    28. 28
      Posted by guest | May 14, 2009 at 3:33 PM

      @ 28. Wow, it’s hilarious. go back to taiwan

    29. 29
      Posted by guest | May 14, 2009 at 4:05 PM

      How FIG guys not be making money given all the government work:stress tests, TALF,PPIP,RALPH MALF etc

    30. 30
      Posted by ccs | May 14, 2009 at 4:13 PM

      @30 B/C only Goldman’s being consulted.

    31. 31
      Posted by guest | May 14, 2009 at 4:20 PM

      i work in tmt at jpm and my best friend is dead… deal toy thrown at her head. she was a beautiful woman.
      The Goy From Delaware

    32. 32
      Posted by guest | May 14, 2009 at 4:31 PM

      30
      TARP hates JPM
      Most Banks (FIG Clients) dont want to be advised by a competitor (JPM)
      In good times it all works like a circle gang-bang, in bad times…well you know

    33. 33
      Posted by guest | May 14, 2009 at 5:13 PM

      33
      Thats bollocks, jpm has been on every FIG deal since the crisis began.

    34. 34
      Posted by guest | May 14, 2009 at 7:12 PM

      34, yes subsized deals (like Bear), most at a loss….

    35. 35
      Posted by guest | May 14, 2009 at 7:23 PM

      no he’s right…they underwrote a lot of deals too. I hear that jpm fig is top 3 (whatever that means these days)

    36. 36
      Posted by guest | May 14, 2009 at 8:58 PM

      @35 How about Wells Fargo?

    37. 37
      Posted by guest | May 15, 2009 at 12:12 AM

      @36 Who are in the top 5 concerning FIG groups?

    38. 38
      Posted by guest | May 15, 2009 at 8:17 AM

      @31. JPM FIG has actually been the top performing shop over the past 12 months. I think the fees on last week’s Wells deal alone were around 85mm. Not to mention wells/wachovia, nat city/pnc, and multiple cap raises. Word came down that everyone had to cut, so everyone cut.

    39. 39
      Posted by guest | May 15, 2009 at 8:51 AM

      god knows they’re cutters

    40. 40
      Posted by guest | May 15, 2009 at 10:24 AM

      Who have the top 3 FIG shops this year?

    41. 41
      Posted by guest | May 15, 2009 at 11:05 AM

      @39 – stop drinking the jpm cool aid. loser

    42. 42
      Posted by guest | May 15, 2009 at 5:20 PM

      I heard it fell on 1st-2nd years. 2-3 in Hou nat resources. One guy on my account.

    43. 43
      Posted by guest | May 15, 2009 at 11:44 PM

      First years were not spared
      ~HR Subhuman

    44. 44
      Posted by guest | May 20, 2009 at 12:02 AM

      @42 kool aid?… just correcting inaccurate information…suck a dick.

    Older Comments

    Leave a comment

    You can log in with your account or comment as a guest below.

       or