JPMorgan Chase & Co. reorganized its capital markets group, separating its debt and equity units and shuffling leadership.
Jim Casey and Andy O'Brien, who serve as co-heads of syndicated leveraged finance, will become co-heads of global debt capital markets, which will combine debt capital markets and syndicated leveraged finance, according to an internal memo obtained by Leveraged Finance News.
Meanwhile, Credit Suisse AG is reducing its headcount worldwide by 3% and cutting the size of its investment banking group, although its leveraged finance group may survive the worst of the cuts.
According to a presentation published along with its third-quarter financial results, Credit Suisse will exit its CMBS origination and reduce country coverage in its EMEA group as well as reduce its long-dated unsecured trades. Credit Suisse said it would "evolve" its leveraged finance and investment grade credit products and grow its emerging markets coverage.
