IYG has had a breath-taking 10-month rally from November 2012 to the peak earlier this month. The same could be said for the three largest holdings, as illustrated in the one-year chart below. WFC data by YCharts
JPMorgan Chase, the biggest U.S. lender, named GE's Clarence Nunn to lead its middle-market expansion in the Southeast. The business has 108 offices in the U.S. and Canada.
The struggling German bank is looking for Goldman Sachs-like penalties for its pre-crisis dealings.
Long the bastion of the fabulously rich, these firms are no longer letting others do their bidding and are instead directly investing in portfolio companies themselves.