J.P. Morgan Taps Deutsche Bank for New EMEA Tech Investment Banking Head
June 28 2017 - 3:07PM
Dow Jones News
By Ben Dummett
J.P. Morgan Chase & Co. has poached a senior technology
banker from Deutsche Bank AG to lead its technology investment
banking coverage in Europe, the Middle East and Africa.
Matthew Gehl is expected to assume the same role that he has had
with Deutsche Bank since 2010, according to an internal
announcement at J.P. Morgan. Mr. Gehl started his career at Goldman
Sachs in New York and moved to London to cover the EMEA region in
2001.
The banker will start in his new role after the summer. Mr.
Gehl's hiring comes after Deutsche Bank slashed employee bonuses
for 2016 and in March announced plans to recombine its corporate
and deal-advisory business with its trading operations as the
German bank tries to return to profitability.
Mr. Gehl will succeed Sanjay Jain, who remains with J.P. Morgan
as a senior tech banker based in London working with the bank's top
technology clients in EMEA. The Messrs. Gehl and Jain will work
together with Hugo Baring and Joachim Sonne, J.P. Morgan's EMEA
co-heads for technology, media and telecom, according to the
internal memo.
Mr. Jain, a veteran technology investment banker for J.P.
Morgan, moved to the London office last year after a long stint in
California. He assumed the role as head of technology investment
banking for EMEA on a temporary basis after Markus Boser, the
previous head, left the bank, according to a person familiar with
the matter. Mr. Jain remains a senior technology banker for J.P.
Morgan, this person said.
The latest moves come amid increasing adoption of software and
other technologies in industries such as the financial sector, as
its focuses more of its business online, and the auto industry,
which is readying for the widespread adoption of driverless
cars.
Mr. Jain's new role is intended to help J.P. Morgan address this
challenge. Part of his role will include working with J.P. Morgan's
investment bankers covering other sectors to help their clients
address the evolving impact of technology on different industries,
the person said.
Write to Ben Dummett at ben.dummett@wsj.com
(END) Dow Jones Newswires
June 28, 2017 14:52 ET (18:52 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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