JP Morgan reshuffles European banking team to target M&A push

JP Morgan has shaken up its banking team in a bid to challenge leading UK banks when it comes to M&A.

The investment bank has reshuffled its European banking division moving co-head of M&A in the Europe, Middle East and Africa (EMEA) region, David Lomer, to lead the UK division alongside Ed Byers.

It would give the company’s JP Morgan Cazenove business a renewed push to seek more deals in the City.

Head of UK M&A Dwayne Lysaght will replace Lomer as co-head of EMEA M&A, according to an internal memo seen by City A.M.

Veteran banker Axel Beck will move away from financial sponsors to become co-head of Nordic banking for the business, while Bo Zethraeus will be the Nordic region’s new vice-chair of investment banking.

In an internal memo, chief executive of the bank’s EMEA division Vis Raghavan said the changes would “ensure we maintain our momentum and build on our leadership position in the region.”

Raghavan said the bank was aligning its coverage with changing market dynamics and evolving client needs.

Ina De will also move from the UK division to co-head of the bank’s European strategic investors group, the memo said, and Harry Hampson will take on the extra role of vice-chair of JP Morgan Cazenove.