In the same week that the marbled halls of JP Morgan’s old headquarters on Wall Street were being sold to a development company, Walter Gubert laid out the investment bank’s strategy to Brian Caplen and Geraldine Lambe in his much more functional London office.
Mr Gubert is feeling relatively upbeat. For the first time JP Morgan has achieved top three league table status concurrently in global announced M&A, global long-term debt, and global equity and equity-related underwriting. It also posted an operating income for the first quarter that was 22% higher than last year and a return on equity of 20%.
