JPMorgan Chase CEO Jamie Dimon, who’s already forced his busy little elves again to the pestilential toy manufacturing unit, has a bit extra vacation cheer to unfold round 383 Madison Avenue: If you thought you can make up in your resumed commute by blowing off work this month, think again.
“It clearly won’t be a long Christmas break for M&A bankers,” [co-head of global mergers Dirk] Albersmeier stated. “There are absolutely no signs of this pace slowing down….” Albersmeier stated the proliferation of blank-check companies, or particular goal acquisition firms, has created a brand new and vital group of consumers within the M&A market.
Being busy over the festive season isn’t the worst Christmas current, nonetheless, as Dimon and his colleagues everywhere in the Street are printing up pink slips for some very not lucky stockings, sayeth the ghost of grim Christmas futures, Dick Bové.
“I can see a 20 percent to 30 percent decrease in jobs over the next couple of years probably beginning” later this 12 months, Bove stated. “This is a long-term issue but the coronavirus didn’t help.”
M&A Bankers Won’t Get Long Christmas Break, JPMorgan Says [Bloomberg]
Wall Street layoffs a matter of when, not if, sources say [Gasparino/N.Y. Post]