JPMorgan Names Braunstein C.F.O. in Shake-Up [Dealbook] JPMorgan Chase continued to shuffle its top management ranks, including by appointing one of its most senior investment bankers as its new chief financial officer. Douglas L. Braunstein, currently the head of investment banking for the Americas, will replace Michael Cavanagh as JPMorgan’s financial chief. Why Wall Street’s Second Quarter Earnings Are Going to Stink [DealJournal] Consider these numbers from Credit Suisse Group and Dealogic:... Read more

JPMorgan Chase hires PayPal's Stephenson as director of mobile, e-commerce and payments[JPMorgan Chase] HSBC hires Harrison, former head of Europe financial institutions investment banking at Lehman and Nomura, to co-lead global FIG group [Financial News] Charles Schwab's alternative investment sales chief Kernan is resigning to start an asset management firm that will launch a fund-of-hedge-funds mutual fund [Investment News] Lazard hires media/telecom banker Katz from BofA [Lazard] Kennedy Associates Real Estate Counsel taps board... Read more

Ex-Goldman prop trading chief Flamand, moving ahead with Edoma Partners LLP hedge fund launch, reportedly hires seven investment pros [WSJ] Hedge fund pros Messina and Kim said to join ex-SAC Capital president Cohn in Archeroak Capital Management, a new equity fund venture to begin trading by year-end [Bloomberg News] Delaware Investments hires Matlack from Chartwell Investment Partners as SVP and U.S. fixed-income strategist [Pensions & Investments] Boston Private Financial Holdings hires Deutsch from... Read more

Canada’s big banks are expanding their U.S. presence with limited risk by acquiring failed retail lenders from the U.S. Federal Deposit Insurance Corp. A string of recent U.S. acquisitions by Bank of Montreal and TD Bank Financial Group bring those institutions into markets as far south as Florida. These developments promise new career opportunities in Canada and the U.S., says Mike Gooley, metro market manager for Robert Half International in Toronto.... Read more

CIT Group hires Chai, former CFO at Merrill Lynch and NYSE Euronext, as chief administrative officer. Also hires Rowe from FirstMerit Bank as chief credit officer[Bloomberg News] Morgan Stanley Smith Barney's private client division hires four-person team from Barclays to serve ultra-high net worth clients in Venezuela and Colombia [Morgan Stanley Smith Barney] Lincoln Financial Group hires Bucklee from Merrill Lynch Insurance Group to head distribution for its long-term care product [Lincoln... Read more

TD Bank's departing Chief Economist Don Drummond has some unusual advice for new graduates eyeing careers in economics: At this stage, mastering economic theory is more important than gaining practical experience. And the way to do that is to go straight from an undergrad degree to a Master's, as Drummond himself did more than 30 years ago. Drummond retires at the end of June after 10 years with TD bank preceded... Read more

Bank of America hires former Dept. of Homeland Security official Garcia for new D.C.-based cybersecurity position [Charlotte Business Journal] Morgan Stanley reportedly hires Deutsche Bank’s Heaton to lead IB for asset management sector [Bloomberg News] Deutsche hires FIG banker Steifman and EMEA credit sales head Cain, both from Morgan Stanley [Financial News] Grosvenor Capital Management hires Travaglini, head of Massachusetts state pension fund, as managing director for business development [<a href="http://www.boston.com/business/articles/2010/05/25/citing_calls_to_cap_bonus_pay_pension_chief_says_hell_... Read more

Two amendments that became part of the Senate's Wall Street reform package Thursday promise to alter – and perhaps eliminate – many jobs in the big three credit rating firms. The provision added at the request of Sen. Al Franken, D-Minn., creates a government-appointed panel "to match rating agencies on a semi-random basis with debt issuers," according to Reuters. "That could ease pressures the agencies face to assign rosy ratings... Read more

Hewitt hires Shaughnessy from Rogerscasey as senior investment consultant, Parikh and Friedman from Mercer as senior pension risk consultants, three others for roles in manager research. All the positions are new [Pensions & Investments] Casimir Capital hires Morgan Stanley's Atwell to launch new research division focused on commodities and mining companies [Casimir Capital, via PRN] BofA Merrill Lynch promotes Arth to president of Bank of America Business Capital from eastern division executive... Read more

Federal prosecutors are in the early stages of an investigation into whether Goldman Sachs's mortgage trading crossed the line into criminal fraud. Though the probe was kicked off after a referred from the SEC, the Manhattan U.S. Attorney's Office is apparently looking into several issues that aren't related to the agency's civil action against Goldman. Criminal Probe Looks Into Goldman Trading [WSJ] Think Blankfein Will Resign? Want to Bet? [NY Times] Bank... Read more

If you're on Wall Street today and you hear an unusual amount of noise outside, it's probably from the 10,000 people organizers hope will show up to let you know how they're annoyed they are. The march -against federal bank bailouts and for more jobs - is scheduled to run from 4 to 6 p.m., according to the website of one of the organizers, the AFL-CIO. Yesterday, unions staged similar, though... Read more

Russell Investments hires Zuckerwise from Utendahl Capital Management as CEO of Americas institutional business [Russell Investments] Russell Investments hires O’Keeffe, MSCI Barra's global client service chief, as N.Y. regional director of ETF licensing business. Firm promotes Forbes to oversee ETF business for EMEA region, based in London [Russell Investments] JPMorgan Chase hires HSBC's Shenglin to lead corporate banking in China [WSJ] JPMorgan hires Vanderweyen from RBC Dexia as general manager of J.P. Morgan... Read more

Piper Jaffray has scaled back previous plans to hire more than 50 additional bankers and traders during 2010, and is close to completing its reduced goal of 30 new hires for the year. After hiring about 60 "senior producers" during 2009, Piper initially planned a similar target for this year. Instead, Chief Executive Andrew Duff says the Minneapolis-based bank is "moderating" and "re-mixing" staffing plans, so as "to keep driving... Read more

Goldman Sachs's record fixed-income trading revenue last quarter may open even more career opportunities for traders at other top global banks than for Goldman's own traders, in view of new market-share headwinds the SEC's fraud lawsuit could blow in the face of the long-time pacesetter. While Goldman's fixed-income, currencies and commodities (FICC) business soared, first-quarter investment banking revenue declined from last year's fourth quarter as merger advisory business remained slow. Both... Read more

Citigroup's first-quarter results offer some comfort for the bank's traders, less for investment bankers. While revenues across most areas in Citi's securities and banking segment posted steep declines compared with the 2009 first quarter, a different picture emerges when comparing the past quarter's numbers with more recent periods last year. Citi's $1.06 billion total investment banking revenue (from advisory, equity and debt underwriting) was the softest since the first quarter... Read more

Here's some bright and colourful graphics to cheer you up on a Friday (provided you work for Bank of America Merrill Lynch). It's just posted an income of $3.2 billion for Q1, driven largely by strong results in its investment bank. First a nod to its fixed income, currency and commodities income, which brought in record revenues of $5.5 billion: Source: Bank of America Here's a breakout of its staff costs, which rose... Read more

Here's an advantage to working for a regional bank instead of a bulge-bracket: When it comes to executives' pay packages, optics is less of an obstacle. That's true even for bailed-out institutions that didn't repay all their TARP funds, and in some cases continue to report net losses, Reuters reports. Regional institutions including Cincinnati-based Fifth Third Bancorp, Pittsburgh-based PNC Financial Services, Birmingham, Ala.-based Regions Financial and Cleveland-based KeyCorp hiked their respective... Read more

Many graduate business schools are maintaining or expanding career services for MBA students, even while investment losses cut into overall university budgets. Career services offerings remain rich at the business schools of Harvard, Notre Dame, Yale, Cornell, Stanford, and USC, administrators at each institution tell eFinancialCareers News. At the same time, many institutions - including some within the Ivy League - have reduced career services staff and travel due to budget... Read more

Pursuing an ambitious goal to break into U.S. investment banking's top 10, Royal Bank of Canada is adding to the 24 senior bankers it hired away from Wall Street firms this past year. RBC's hiring spree "has slowed down a bit, but you'll still see us making significant additions over the next quarter," Blair Fleming, appointed U.S. investment-banking chief at RBC Capital Markets in January, told Bloomberg News. "What we're... Read more

Deutche Bank hires banking boutique owner Utendahl as vice chairman with public kudos from the CFO of his long-time client, GE [TheStreet.com] BTIG launches convertible securities business, hires Langer from Stanfield Capital to lead team of five new hires from varied firms [BTIG LLC] Barclays elevates Fagen to head of global equities electronic trading distribution, from co-head of Americas liquid market sales [Traders Magazine] SunTrust promotes Lienhard from treasurer to SVP-strategic finance and... Read more