New York - JPMorgan Chase & Company, the biggest US bank by assets, promoted Kurt Simon to global chairman of mergers and acquisitions and is re-organising its technology, media and telecommunications team.
Simon, who has led TMT in North America since 2009, will relocate to New York from San Francisco by August 1, according to a memo from investment banking chief Carlos Hernandez. Hernan Cristerna and Chris Ventresca will remain global co-heads of M&A, reporting to Hernandez. The Wall Street Journal reported the move earlier on Thursday.
Simon has led New York-based JPMorgan to the No. 2 slot in US technology and internet deals this year, behind Credit Suisse Group AG, data compiled by Bloomberg show. He worked on the largest pure technology deal ever, advising Avago Technologies Ltd on its $37 billion takeover of Broadcom Corporation last month, and Intel’s $17 billion acquisition of Altera.
Simon will focus “on our priority clients globally across all industries”, Hernandez said in the memo.
JPMorgan also announced several management changes for its technology, media and telecom team. Noah Wintroub was promoted to vice-chairman of investment banking, with a focus on internet and digital media companies, and Fred Turpin was named head of media and telecom investment banking for North America, according to a separate memo from Eric Stein, who oversees investment banking in that region.
Equity capital markets co-head Michael Millman will also run technology investment banking for North America, according to the memo.Bloomberg