Eric Warmstein, a managing director in JPMorgan Chase & Co. (JPM)’s financial-institutions advisory business, has retired, a person familiar with the move said.
Warmstein, 56, left last week after seven years with New York-based JPMorgan, the person said, asking not to be identified because the move hasn’t been announced. Brian Marchiony, a spokesman for the bank, declined to comment.
Warmstein tied for the No. 1 ranking among bankers advising on bank and thrift deals last year, according to SNL Financial, a bank research firm in Charlottesville, Virginia. He helped advise Umpqua Holdings Corp. in its $2 billion purchase of Sterling Financial Corp., SNL data show.
Warmstein joined JPMorgan in 2007 from UBS AG, where he worked on transactions such Bank of New York Co.’s purchase of Mellon Financial Corp., and Bank of America Corp.’s purchase of U.S. Trust Corp., according to a memo at the time. His colleagues at Zurich-based UBS included Kenneth Moelis, who later founded advisory Moelis & Co., and Olivier Sarkozy, now at Carlyle Group LP. Before that Warmstein was a merger adviser at Credit Suisse First Boston.
JPMorgan’s financial-institutions group, led by Fernando Rivas, ranked No. 1 in handling U.S. bank deals last year, advising on seven transactions worth $5.8 billion, according to data compiled by Bloomberg. That was good for about 47 percent of the announced deal volume.
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