JP Morgan on the up
Accounts provided by JP Morgan provide a partial insight into the success of its Australian investment banking operations in 2007.
Accounts provided by JP Morgan provide a partial but incomplete insight into the success of its Australian investment banking operations in 2007.
According to documents supplied to the ASX by JP Morgan Australia, which comprises the local corporate advisory division of the US investment bank, more than trebled in 2007, helped by a doubling in fee income and more modest increases in staff costs.
The division – co run by Andrew Pridham and Grant Dempsey – brought in total revenue in 2007 of $277 million, up from $141 million in 2006.
Of this, fee income accounted for $259.8 million, up from $126.8 million, reflecting its high ratings in both M&A and capital markets advisory during the year.
Expenses rose to $113 million from $96 million, with employee costs put at $25.02 million, up from $17.5 million a year earlier.
JP Morgan hires around 63 bankers in its investment banking division, so presumably most of these salaries are accounted for in a separate entity. That, or the employees are looking with some envy at the publicly disclosed pay packets of their peers
Profit jumped to $115.8 million from $35.1 million. The accounts are released because of JP Morgan's obligations to the ASX as a guarantor for warrant products.
According to documents supplied to the ASX by JP Morgan Australia, which comprises the local corporate advisory division of the US investment bank, more than trebled in 2007, helped by a doubling in fee income and more modest increases in staff costs.
The division – co run by Andrew Pridham and Grant Dempsey – brought in total revenue in 2007 of $277 million, up from $141 million in 2006.
Of this, fee income accounted for $259.8 million, up from $126.8 million, reflecting its high ratings in both M&A and capital markets advisory during the year.
Expenses rose to $113 million from $96 million, with employee costs put at $25.02 million, up from $17.5 million a year earlier.
JP Morgan hires around 63 bankers in its investment banking division, so presumably most of these salaries are accounted for in a separate entity. That, or the employees are looking with some envy at the publicly disclosed pay packets of their peers
Profit jumped to $115.8 million from $35.1 million. The accounts are released because of JP Morgan's obligations to the ASX as a guarantor for warrant products.
Share this article and show your support
Call 1300 880 160
Start a chat
Schedule a call
