S&P Global Market Intelligence presents a weekly rundown of selected executive management changes among the major Wall Street investment banks and other notable moves. The changes are listed by announcement date in reverse chronological order.
JPMorgan Chase & Co. named Jonathan Ernst as an executive director of its energy group, primarily focusing on the exploration and production sector across the South region.
Ernst was previously a senior vice president at Jefferies LLC's energy investment banking team.
JMP Securities LLC hired Reni Benjamin as a managing director and biotechnology equity research analyst.
Benjamin was previously a managing director and senior research analyst at Raymond James Financial Inc.
Citigroup Inc. is set to dissolve its U.S. high-yield debt research team. Recent departures include managing director Manish Somaiya, who covered auto and industrial debt, David Phipps, James Yoon and Bill Henry, Bloomberg News reported, citing sources.
The move is part of the banking giant's plan to cut 400 jobs in its trading division to boost profitability. While second-quarter total markets and securities services revenues increased on a year-over-year basis to $4.67 billion from $4.48 billion, equity markets revenues decreased 9% to $790 million from $864 million and was the only segment to report a drop in the quarter.
Lazard Ltd. named Bennett Monson as a managing director in its middle-market industrials group.
Monson previously led Wells Fargo Securities LLC's industrial technology practice.
Mizuho Americas LLC hired Michal Katz as its bank division head, Bloomberg reported, citing sources.
Katz was most recently a senior investment banker at Royal Bank of Canada, serving as co-head of global technology at RBC Capital Markets.