JPMorgan hires veteran dealmaker Rob Sweeney amid investment banking expansion

NEW YORK, Oct 6 — JPMorgan Chase has appointed former Goldman ​Sachs and Sycamore executive Rob Sweeney as a global chair of investment banking, according to an internal ‌memo seen by Reuters.

In the role, Sweeney will advise major corporate clients, particularly ⁠in the consumer and retail ​sector, and work with ⁠senior bankers on key relationships. He will also help lead ‌the bank's efforts ‌around its security and resilience initiatives, Filippo Gori and ⁠John Simmons, co-heads of global ⁠banking, said in a note.

The hire comes as banks race to win a larger share of a rebounding dealmaking market after several subdued years for mergers and equity issuance. JPMorgan has hired more than 1,000 bankers globally ‌this year, a source said, and ​has been expanding coverage teams across industries and regions as corporate activity picks up.

JPMorgan has made a series of senior hires across its global banking division in recent months including Amy Lissauer, who joined as global head of shareholder activism, and Michael Flynn, who was named ​head of small-cap investment banking.

In the second quarter, JPMorgan's investment ‌banking fees rose 30% ‌from ⁠a year earlier, their highest level since 2021.

Co-President Doug Petno in September said JPMorgan expected investment banking fees in the third quarter to rise by a mid-to-high teens percentage from ‌a year earlier, ​supported by a strong deal pipeline ‌and broad-based strength ⁠across its ​investment banking business.

(Reporting by Nupur Anand in New York; Editing by ​Chizu Nomiyama )

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