Wednesday's Headlines: JPMorgan Chase Shuttles Prop Traders to Asset Management

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Prop traders at JPMorgan Chase are moving into a new alternative investments unit in the firm's asset management business. [Finalternatives via Dealbreaker]

Avenue Capital joined several other firms in courting Goldman Sachs' prop traders. [Bloomberg]

D.E. Shaw has laid off 150 employees, or 10 percent of its workforce, amidst increasing client redemptions. [Bloomberg]

JPMorgan Chase will triple private banking assets in Asia, and increase the number of financial advisors it has in the region by 40 percent. [Bloomberg]

Debate over the Paycheck Fairness Act, which seeks to mitigate pay disparity and discrimination among women, is heating up as mid-term elections arrive.

[Daily Finance]