Wall Street Banks Almost Finished With Their Firings: JP Morgan Exec

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Exciting news for those who've been clenching their various orifices for months now, in fear that at any moment, someone from HR might tap them on the shoulder and ask to speak in the conference room: you only have to clench a little bit longer!

Big banks may have begun the year slashing high-end head count, but a key JPMorgan Chase official had an optimistic tone speaking Wednesday at the Deutsche Bank Global Financial Services Conference in New York. "We are getting toward the end of the cycle of contraction," corporate and investment bank CEO Daniel Pinto said, referring to the downsizing in fixed income, currencies and commodities businesses that are key for so many Wall Street banks.

While summer might be tense, if you make it to fall without being told to turn in your key card, consider it a good sign!

Wall Street can breathe easy – for now [CNBC]

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