JPMorgan tapped 118 new managing directors in global banking and markets. See the full list of names.
April 23, 2025
JPMorgan Chase this week promoted 118 people in global banking and markets to the rank of managing director, the firm's highest designation outside of the C-suite.
The number is up slightly from the 116 executives the firm elevated to managing director in these business lines
last year
.
The new MDs sit within JPMorgan's commercial and investment banking unit, which advises companies with mergers and stock sales and facilitates trades for large investors. In addition to bankers and traders, the company also elevated people who work in functions like legal, risk, and compliance.
The bank began internally announcing promotions across the company on Monday, a person familiar with the matter said. It's part of
an annual investment banking ritual
the bank engages in each April.
Eighty-six of this year's new MDs in the division sit within banking, including M&A advisory and corporate lending; another 32 are in markets. An analysis of the new managing directors' LinkedIn profiles shows they stem from all over the world. Some are based in New York or Dallas; others in London, Frankfurt, or Singapore. As of press time, many members of this year's MD class had not updated their LinkedIn pages with their new roles, leaving the title of "Executive Director," one rung below MD, in their profiles.
The commercial and investment bank generated roughly $19.7 billion in revenue for the first quarter of the year, according to the bank's most recent earnings figures; that's up nearly 12% year over year. Banking and payments revenue of $8.7 billion was up 4% year over year; markets and securities services revenue was up 19%. (Markets-specific revenue of $9.7 billion was up 21%, the firm said, amid heightened equities activity.) Overall, JPMorgan said this month that it produced $14.6 billion in net income for the quarter.
"Clients have become more cautious amid an increase in market volatility driven by geopolitical and trade-related tensions," Jamie Dimon, the company's CEO, said in a statement accompanying the release. He also recently addressed a variety of issues facing the economy and US democracy, including stagflation and the specter of a possible recession, in his
annual shareholder letter
.
Last year, JPMorgan was the third-ranked M&A advisor globally (after Goldman Sachs and Morgan Stanley) and second-ranked in the US (after Goldman), according to the deal tracking firm Dealogic. Globally, the firm advised on 403 transactions with a total deal value of about $760 billion; in the US, specifically, it worked on 228 deals with value of roughly $481 billion, Dealogic found.
