Sept 9 (Reuters) - JPMorgan Chase ( JPM ) named three
insiders as global chairs of its investment banking division on
Tuesday, as U.S. banks position themselves to capitalize on a
recovery in dealmaking activity in 2025.
Global mergers and acquisitions hit $2.6 trillion in the
first seven months of the year, the highest since a 2021
pandemic-era peak, boosting investment banks' prospects.
The three - Howard Chen, Charlie Dupree and Fred Turpin -
will join a senior team that provides strategic advice to some
of JPMorgan's ( JPM ) most important clients as the largest U.S. bank
bolsters its investment banking division, a key driver of recent
profits.
The lender beat estimates for second-quarter profit in July
and its investment banking fees rose 7% to $2.5 billion, fueled
by an increase in M&As and debt underwriting.
Chen, who joined JPMorgan ( JPM ) in 2018, was most recently co-head
of the North America financial institutions group, while Dupree
served for the last seven years as vice chair of investment
banking for M&A.
Turpin, most recently JPMorgan's ( JPM ) global head of media &
communications investment banking, has been with the bank 30
years, having worked on deals such as T-Mobile and Sprint and
Warner Media and Discovery, among others.