Group 1 - Sumitomo Mitsui Banking Corp (SMBC) will invest an additional 135 billion yen ($912.84 million) in U.S. investment bank Jefferies, increasing its stake from 14.5% to up to 20% [1][2] - The two firms will establish a joint venture in Japan to consolidate their wholesale Japanese equities businesses, targeting a launch date of January 2027 [2] - The alliance is expected to enhance SMBC Nikko's ability to meet issuer and investor demand amid a booming Japanese stock market with larger deal sizes and increased capital flows [3] Group 2 - The investment in Jefferies is projected to contribute 50 billion yen to SMBC's profit by the fifth year, with 10 billion yen expected from the equity joint venture [4] - SMBC will provide Jefferies with $2.5 billion in new credit facilities for leveraged lending in EMEA and pre-listing lending in the U.S. [5] - Other Japanese banks, such as Mitsubishi UFJ Financial Group and Mizuho Financial Group, have also made significant investments in U.S. financial institutions [6]

Group 1 - Matthew Demko, a managing director at JPMorgan, has left the bank to join Ryan Specialty Group, an insurance broker and underwriter founded by billionaire Patrick G. Ryan [1][4] - Demko, 42, had been with JPMorgan since 2011, working in the leveraged finance unit that provides credit to non-investment grade companies [2][7] - He was promoted to managing director two years ago, becoming one of 37 bankers at JPMorgan to achieve this elite title after a five-month assessment process [4] Group 2 - Ryan Specialty Group was established in 2010 by Patrick Ryan, the former CEO and chairman of AON, and went public in July 2021 [4] - Patrick Ryan has a current net worth of nearly $12 billion, according to Bloomberg [4] - Demko's departure follows a warning from Jamie Dimon regarding potential economic turmoil, likening it to a "hurricane" due to various market factors [8]