JP Morgan Chase & Co. (NYSE:JPM) has reportedly appointed Humberto Garcia-Salas and Andrew Redmond as managing directors in its Mid-Cap Investment Banking division.

The move reflects its aim to bolster its investment banking segment, reported Reuters.

Garcia-Salas, who is a former JPMorgan executive, re-joins the bank from Greenhill & Co., where he spent nearly eight years, most recently as managing director. Redmond, a managing director at Guggenheim Partners, will join the bank later this year.

As per the report, last week JPMorgan also named Andrew Castaldo and Andrew Martin as co-heads of the mid-cap mergers and acquisitions unit.

In July, JP Morgan appointed Nazim Ali to lead Asia tech vertical in private bank, enhancing regional tech entrepreneur engagement.

In August, JP Morgan faced a lawsuit for allegedly placing customers’ idle cash in accounts with low interest rates.

Investors can gain access to the stock via iShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).

Price Action: JPM shares are down 6.4% at $202.85 at the last check Tuesday.

Photo by Katherine Welles on Shutterstock

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