JP Morgan Chase & Co is breaking up an investment banking unit that focuses on areas like hedge funds, leveraged buyouts and real estate.

The bank's principal investment management group, led by Bob Case, wagered the investment bank's money in a variety of areas globally. Most of the estimated 150 bankers within the group will be disbursed elsewhere in the investment bank, according to a person familiar with the matter.

JP Morgan disbands unit for hedge funds, buyouts

The Wall Street Journal

JP Morgan

Citigroup

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