Morgan Stanley Asia job cuts include key China bankers, 6 MDs

Morgan Stanley is letting go of at least six managing directors, including some key China bankers, as part of broader job cuts in Asia where dealmaking has been stymied by growing China-US tensions and tepid economic growth.

Clarence Kwok, who's focused on mergers and acquisitions in China, Julia Xiao in corporate finance, and Tony Yin on the technology coverage were among managing directors let go, according to people familiar with the moves who asked not to be identified because they're not authorized to speak publicly. Some of the senior bankers being cut were promoted in the last two years, said the people. Bloomberg

JPMorgan Cut Around 500 Jobs This Week


JPMorgan Chase & Co cut around 500 jobs this week, mostly among technology and operations groups, CNBC reported on Friday, citing people with knowledge of the matter. The bank did not immediately respond to a Reuters request for comment.

JPMorgan Chase still has around 13,000 open positions, the report said, citing one of the people. The bank had a headcount of 296,877 as of March 31, according to a regulatory filing. Reuters