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JPMorgan names heads for healthcare, tech investment banking
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JPMorgan names heads for healthcare, tech investment banking
Sep 20, 2024 5:36 AM

Sept 19 (Reuters) - JPMorgan Chase ( JPM ) announced on

Thursday leadership changes in a push to strengthen its

healthcare and technology investment banking, according to an

internal memo seen by Reuters.

Ben Carpenter and Jeremy Meilman would be the global

co-heads of healthcare investment banking, while Chris Grose and

Greg Mendelson have been named global co-heads of the technology

investment banking, according to the memo.

Investment banking has been a bright spot for the major Wall

Street firms, as more companies look to raise capital through

debt or equity offerings and engage in takeover deals driven by

growing confidence in the U.S. economic outlook.

JPMorgan ( JPM ) beat estimates for second-quarter profit in July,

helped by a resurgence in dealmaking and strong capital markets.

Its investment banking revenue grew 46% to $2.5 billion for

the quarter ended in June, compared with a low base a year

earlier.

Carpenter, an industry veteran, rejoined JPMorgan ( JPM ) from

Citigroup ( C/PN ) in 2021 as a healthcare mergers and acquisitions

(M&A) banker and Meilman has been with the bank for nearly two

decades, as per the memo.

Grose joined JPMorgan's ( JPM ) technology and diversified

industries team in 2005, while Mendelson, who has been at the

firm since 2015, served as the vice chair of investment banking

in his most recent role at the firm.

"Our clients and colleagues will benefit greatly from their

networks, strategic insights and market expertise," Doug Petno

and Filippo Gori, co-heads of global banking, said in the memo.

The largest bank in the U.S. also named Mike Gaito as the

global chair of healthcare investment banking and Pankaj Goel,

Madhu Namburi and Drago Rajkovic as global chairs of technology

investment banking.

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