JPMorgan Chase & Co. named Ina De and Conor Hillery co-heads of its U.K. investment banking business, according to a memo obtained by Bloomberg News.
De, currently co-head of equity capital markets for Europe, the Middle East and Africa, and Hillery, head of the U.K. financial institutions group, will report to Chairman Tim Wise, the memo shows. Its contents were confirmed by a spokeswoman.
Laurence Hollingworth, previously head of investment banking in the U.K., will become head of industry coverage in the EMEA region. He will replace Jake Donavan who will be senior country officer of Benelux and the Nordics, the memo said.
U.S. banks including JPMorgan and Goldman Sachs Group Inc. have been increasing their share of European investment-banking fees, the New York-based research firm Freeman & Co. reported today.
“Corporate balance sheets in the U.K. are very robust,” said Viswas Raghavan, head of banking for EMEA and author of the memo. “Corporate finance activity in the country should rise. We are seeing signs of companies looking to create growth through mergers and acquisitions, given organic growth in the U.K. has been anemic,” Raghavan said in an interview today.
JPMorgan Cazenove was the top financial adviser in the U.K. last quarter by number of FTSE 250 clients, according to May data from U.K.-based research firm Adviser Rankings Ltd. The bank has 53 FTSE 250 clients and 11 FTSE 100 clients, the rankings showed. JPMorgan’s broking clients include the U.K.’s largest fixed-line telecommunications company, BT Group Plc, as well as car-repair business Halfords Group Plc.