- Pandraud to take investment-banking role in France and Belgium
- Held similar investment role at Deutsche Bank for EMEA region
JPMorgan Chase & Co. hired Marc Pandraud from Deutsche Bank AG as chairman of investment banking for France and Belgium to bolster its advisory business in the region.
He will work with Kyril Courboin, senior country officer, Viswas Raghavan, deputy chief executive officer for Europe, Middle East and Africa, said in a memo to employees on Thursday. Deutsche Bank, where Pandraud was vice chairman of corporate and investment banking in the region, is reorganizing its securities unit, prompting the departure of several managers.
Pandraud “will consolidate our strong franchise in these countries and further build on our tremendous momentum across the region,” Raghavan wrote. He will also serve as a vice chairman of investment banking for EMEA.
Banks have been bolstering their advisory and equity capital markets businesses as tighter regulations weigh on some trading activities. JPMorgan, based in New York, and HSBC Holdings Plc are among international lenders in the best position to win a role if Saudi Arabia’s government goes ahead with an IPO of Saudi Arabian Oil Co., or Aramco, people with knowledge of the matter said this month.
JPMorgan ranked second on Bloomberg’s merger advisory league tables in the EMEA region last year, after taking part in deals including Anheuser-Busch InBev NV’s takeover of SABMiller Plc and Royal Dutch Shell Plc’s planned acquisition of BG Group Plc.