NEW YORK, Jan 12 (Reuters) – JPMorgan Chase & Co (JPM.N) on Thursday named Anu Aiyengar as the only real head of its international mergers and acquisitions (M&A) franchise after co-head Dirk Albersmeier stepped down from the position, cementing her standing as the one feminine govt main the franchise at a significant Wall Road financial institution.
The transfer was introduced in an inner memo despatched out by JPMorgan’s two international co-heads of funding banking, James Casey and Viswas Raghavan. The contents of the memo had been confirmed by a JPMorgan spokeswoman.
Albersmeier will tackle a brand new “wholly shopper and transaction-focused position” inside JPMorgan, in line with the memo.
“Going ahead, Anu would be the sole head of our international M&A enterprise and Dirk will focus completely on offering our shoppers with first-class M&A recommendation and persevering with to mentor the following era of M&A leaders,” the memo stated.
JPMorgan ranked second on the monetary league desk rankings final 12 months, having suggested on offers price over $900 billion, in line with information from Dealogic. Goldman Sachs Group Inc (GS.N) led the rankings for 2022, having suggested on over $1.2 trillion price of transactions.
JPMorgan’s M&A management reshuffle comes at a time of a major slowdown within the tempo of dealmaking that has pressured Wall Road’s high funding banks to undertake a giant spherical of layoffs, which symbolize the largest contraction in headcount for the reason that monetary disaster.
Aiyengar is amongst a handful of ladies executives on Wall Road to guide a worldwide M&A advisory franchise. Different distinguished feminine leaders embody Faiza Saeed, presiding associate at regulation agency Cravath, Swaine & Moore LLP, Melissa Sawyer, international head of the M&A gaggle at regulation agency Sullivan & Cromwell LLP, and Barbara Becker, chair and managing associate at regulation agency Gibson, Dunn & Crutcher.
Aiyengar, a JPMorgan veteran of greater than twenty years, has led the financial institution’s M&A franchise since she was promoted to the position alongside Albersmeier in 2020.
She has suggested on a number of massive offers throughout her profession, together with Burger King’s acquisition of Tim Horton Inc. Extra not too long ago Aiyengar led plenty of vital transactions on which that JPMorgan has suggested, together with the sale of satellite tv for pc operator Maxar Applied sciences (MAXR.N) to personal fairness agency Creation Worldwide for $6.4 billion, and Saudi Aramco’s $2.65 billion acquisition of the worldwide merchandise enterprise of Valvoline Inc (VVV.N).
Reporting by Anirban Sen in New York; Enhancing by Will Dunham and Nick Zieminski
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