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.