JP Morgan to dismiss 100 employees from asset management arm

Across the business globally

JP Morgan Chase is in the process of laying-off around 100 employees from its asset management division globally following a review of the business, according to sources familiar with the matter.

The changes represent around 1% to 2% of the arm, according to the Wall Street Journal, and will be seen across the business and in cities over the world. The move was spurred by an internal review which identified potential staff changes in fixed income, equity, administration and sales groups. A JP Morgan spokesperson commented: "We routinely review our coverage model to ensure appropriate staffing levels across a variety of functions. "We cannot comment on specific details, but the changes will involve a variety of functions across the business globally. "Any reductions will ...