By Nupur Anand
NEW YORK, Oct 6 (Reuters) – JPMorgan Chase has appointed former Goldman Sachs and Sycamore executive Rob Sweeney as a global chair of investment banking, according to an internal memo seen by Reuters.
In the role, Sweeney will advise major corporate clients, particularly in the consumer and retail sector, and work with senior bankers on key relationships. He will also help lead the bank’s efforts around its security and resilience initiatives, Filippo Gori and John Simmons, co-heads of global banking, said in a note.
The hire comes as banks race to win a larger share of a rebounding dealmaking market after several subdued years for mergers and equity issuance. JPMorgan has hired more than 1,000 bankers globally this year, a source said, and has been expanding coverage teams across industries and regions as corporate activity picks up.
JPMorgan has made a series of senior hires across its global banking division in recent months including Amy Lissauer, who joined as global head of shareholder activism, and Michael Flynn, who was named head of small-cap investment banking.
In the second quarter, JPMorgan’s investment banking fees rose 30% from a year earlier, their highest level since 2021.
Co-President Doug Petno in September said JPMorgan expected investment banking fees in the third quarter to rise by a mid-to-high teens percentage from a year earlier, supported by a strong deal pipeline and broad-based strength across its investment banking business.
(Reporting by Nupur Anand in New York; Editing by Chizu Nomiyama )
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