JPMorgan integrates Bear Stearns bosses

JPMorgan has appointed five Bear Stearns executives to top positions, in its first senior management restructuring since it rescued the rival bank.

The changes were announced in a memo dated April 4 and signed by Steve Black and Bill Waters, co-chief executives of JPMorgan's investment bank.

"We recognise this announcement does not include everyone in senior management - it aims only to cover the investment bank management committee and our direct reports going forward," the memo said.

"There are

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