JPMorgan Names Regional Banking Heads for Europe, Asia in Revamp
JPMorgan Chase & Co. (JPM) named Viswas Raghavan head of banking for Europe, Middle East and Africa, and chiefs for Asia and Latin America as part of a revamp to improve coverage of corporate clients.
The lender appointed Alejandro Guevara and Lisandro Miguens co-heads of banking in Latin America, while Tom DuCharme and Therese Esperdy will be co-heads of banking in Asia Pacific, according to a memo confirmed by a spokeswoman in London today.
The executives will oversee investment banking, corporate banking and treasury services in their regions as the biggest U.S. bank combines those units into one. New York-based JPMorgan shook up its top management in July after a $6.2 billion trading loss in its chief investment office, and earlier this month named Don McCree to oversee corporate banking with Jeff Urwin, who heads investment banking.
“The objective is to broaden the client footprint and have a more holistic approach to coverage as others step back and capital-markets activity picks up,” Raghavan, 46, the former head of global equity capital markets, said in a phone interview. “The worst is probably past in Europe, and though it won’t be smooth sailing, a new balance will be found.”
JPMorgan ranks eighth this year among so-called mandated arrangers of loans to European companies, up from 12th last year and the highest since 2006, data compiled by Bloomberg show.
The company also announced Todd Marin, formerly co-head of investment banking in Asia Pacific, will become vice chairman of investment banking for the region, reporting to Urwin.
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