JPMorgan Chase & Co. ($JPM) Stock: Gains as Bank Hires BofA Veteran Kevin Brunner Amid Legal Fee Dispute

TLDR

• JPMorgan appoints BofA veteran Kevin Brunner as global chair of investment banking and M&A.
• Brunner advised on major tech deals, including Google, Broadcom, and Analog Devices.
• The move strengthens JPMorgan’s leadership amid a rebound in global dealmaking.
• JPMorgan disputes $115M in legal fees tied to former exec Charlie Javice’s fraud case.
• JPM stock rose 2% to $300.44, extending slight gains in after-hours trading.

JPMorgan Chase & Co. (NYSE: JPM) closed 2% higher at $300.44 on Thursday, after naming Kevin Brunner, a longtime Bank of America executive, as its global chair of investment banking and mergers and acquisitions (M&A).

JPMorgan Chase & Co., JPM

The appointment, confirmed in an internal memo seen by Reuters, comes as dealmaking activity and IPOs rebound amid stronger markets and easing interest rates. Brunner brings more than 25 years of investment banking experience, having advised on high-profile transactions such as Google’s $32 billion acquisition of Wiz, Broadcom’s $69 billion VMware purchase, and Analog Devices’ $68 billion merger with Maxim Integrated.

Strengthening Investment Banking Leadership

Brunner’s appointment follows JPMorgan’s recent recruitment of senior bankers from Deutsche Bank and Goldman Sachs as the firm looks to expand its advisory capabilities in the business services sector.

The move reflects JPMorgan’s strategy to bolster its M&A franchise and maintain leadership in global investment banking, an area seeing renewed momentum in 2025. Analysts said the hire signals the bank’s commitment to capitalize on the current revival in corporate dealmaking.

As the largest U.S. lender by assets, JPMorgan continues to benefit from its diversified business model, which includes strong performance across consumer banking, trading, and asset management.

Legal Dispute Over Charlie Javice’s Fees

In a separate development, JPMorgan remains entangled in a legal battle with former executive Charlie Javice, who was sentenced to seven years in prison earlier this year for defrauding the bank in its $175 million acquisition of her startup, Frank.

Despite the conviction, a contractual clause has required JPMorgan to cover Javice’s legal fees, totaling more than $115 million. The bank filed a motion Friday seeking to end these payments, calling the bills “patently excessive and egregious.”

JPMorgan’s lawyers stated that five law firms had been hired for Javice’s defense, generating overlapping costs. Among her legal team is high-profile attorney Alex Spiro, known for representing Elon Musk and Kim Kardashian, whose hourly rate has reached $3,000.

Stock Performance and Market Outlook

JPMorgan has significantly outperformed the S&P 500 in recent years. The stock boasts a year-to-date return of 27.99%, compared to the S&P 500’s 15.47%. Over the past three years, it surged 164.33%, while its five-year return of 229.53% underscores investor confidence in its stability and earnings growth.

Analysts see Brunner’s appointment and the rebound in M&A as potential drivers for further upside. With its diversified revenue streams and robust capital base, JPMorgan remains well-positioned to benefit from improving market conditions and renewed corporate transaction activity heading into 2026.

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