financetom
Business
financetom
/
Business
/
Exclusive-JPMorgan dealmakers Lipsky and Lee are leaving the bank, sources say
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Exclusive-JPMorgan dealmakers Lipsky and Lee are leaving the bank, sources say
Apr 19, 2024 7:57 AM

NEW YORK (Reuters) -Two senior JPMorgan Chase dealmakers, Andy Lipsky and Haidee Lee, are leaving the bank, two sources familiar with the matter said on Thursday.

Lipsky, JPMorgan's vice chair of investment banking, helped advise industrial companies including General Electric on big deals. He reported to Jay Horine, co-head of global investment-banking coverage, and moved from Credit Suisse in 2020.

Lipsky is headed to Morgan Stanley, two other sources said, declining to be identified discussing personnel matters. He will join in a similar capacity as his role at JPMorgan, one of the sources said.

Lee, co-head of strategic investor group mergers & acquisitions, is returning to Goldman Sachs, said the two sources who declined to be identified discussing personnel matters. She reported to Anu Aiyengar, JPMorgan's global head of advisory, after being hired from Goldman in 2021.

Goldman Sachs did not immediately respond to a request for comment.

Carsten Woehrn, who jointly led the group with Lee, is continuing in his position, two of the sources said.

The exits follow the departure of Phil Ross, a 25-year JPMorgan veteran who served as its global chairman for health care investment banking. Ross is leaving for Jefferies. Bloomberg reported earlier on his departure.

JPMorgan stepped up its hiring during the pandemic by bringing bankers like Lipsky and Lee aboard to compete with rivals.

But the bank has faced a string of prominent departures in recent months. Christian Oberle joined Barclays to oversee its relationship with private equity firms, while Marco Caggiano left to join Morgan Stanley as vice chairman of M&A.

The latest departures come weeks after the bank reorganized leadership in its global banking division, elevating new leaders in capital markets and investment banking.

The new structure aims to cover JPMorgan's clients as they grow in size and complexity.

The changes follow a reshuffle of top executives in January.

Jennifer Piepszak was appointed co-CEO of JPMorgan's merged commercial and investment bank alongside Troy Rohrbaugh, who previously led trading and securities services. Both executives are potential candidates to succeed Jamie Dimon as CEO of the largest U.S. lender.

JPMorgan's investment banking revenue gained 27% to $2 billion in the first quarter, driven by higher fees for debt and stock underwriting.

The lender said that it was beginning to see some momentum in M&A, but regulatory challenges remained.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Copyright 2023-2026 - www.financetom.com All Rights Reserved