JPMorgan Chase is set to reshuffle senior roles in its investment bank and name Dorothee Blessing, Kevin Foley and Jared Kaye as co-heads of its global investment banking business. [1, 2, 3, 4]
The reported reorganization would bring mergers and acquisitions bankers under industry coverage groups, also known as industry client coverage teams, as JPMorgan adjusts how it organizes its dealmaking staff. [2, 3, 4] The changes come amid a pickup in global dealmaking activity, with Reuters citing a 19% rise in M&A revenue to $11.3 billion in the first quarter. [2, 4]
Bloomberg reported that the three executives will report to John Simmons and Filippo Gori, who jointly run JPMorgan’s global banking division. [1] The Financial Times said Charles Bouckaert would replace Anu Aiyengar as global head of M&A, while Aiyengar would become a global chair of investment banking. [2]
Reuters said it could not immediately verify the report and JPMorgan did not immediately respond to a request for comment. [2] The Edge Malaysia reported on May 12 that the reshuffle was expected to be announced to staff on Wednesday, after Bloomberg said on May 13 that JPMorgan had tapped the trio to lead its global investment banking business. [1, 2]
