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Morning Coffee: JPMorgan's new MDs are a big issue in London. Barclays' Asia hires are working well

As we reported yesterday, JPMorgan's new managing directors (MDs) have been announced. In the investment bank, their names are of particular importance. 

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This is the first set of MDs to be unveiled at JPMorgan since the departure of Vis Raghavan for Citi in February. While Raghavan has been credited with helping drive JPMorgan to the top of league tables, he also stands accused by some of partiality and favouring cliques within the bank. Now he's gone, his successor, the "youthful" Filippo Gori, is free to appoint a few people of his own.

Who are they? Financial News reported yesterday that JPMorgan promoted around 30 people in its investment banking team, the names and positions (of most of whom), we've added below. 

The new banking MDs include comparatively few women and comparatively few people in London, which was Raghavan's home turf. Sources in JPMorgan's UK investment banking team suggest there was some disappointment at the paucity of local promotions. Last week, Goldman Sachs unexpectedly hired Carsten Woehrn, JPMorgan's co-head of European M&A and a financial sponsors banker. Woehrn, described by his former colleagues as a "superstar", joined Goldman directly as a partner, in a move which is said to have raised eyebrows at JPM's London office and inclined other people to think they might do the same.

JPMorgan's new investment banking MDs:

Vamsi Alla, investment banking ,centre for carbon transition (New York) 

Lucy Brash, Head of Energy, Power & Renewables Equity Capital Markets at J.P. Morgan New York

Mark Breeden

Chris Cardell, Diversified Industries Investment Banking Gavin Chan, Transportation and Logistics Investment Banking 

Mayank Chaturvedi, Industrial and Automotive Technology, Global Investment Banking, London

Chris Connelly, investment banking New York

Kapil Dilwali, investment banking 

Nicolas Donaldson, investment banking Financial Sponsors Group, New York  

Dhruv Fotadar, investment banking, Technology Investment Banking, San Francisco

Mike Garland, Head of North America Infrastructure Investment Banking 

Donovan Geissel, Technology Investment Banking, London 

Cat Guan, investment banking  

Matthew Hocking, investment banking 

Davide Invernizzi, FIG, London and Milan 

Joe Lace, investment banking 

Ghali Laraki, investment banking 

Separately, after Deutsche Bank said all its hiring last year helped drive revenue growth in the first quarter and after Lazard's new managing directors seemed a good deal, Barclays is also reaping rewards of previous recruitment.

Having hired "almost a dozen senior sales and trading staff" in Asia, Bloomberg quotes Hossein Zaimi, head of Asia-Pacific markets at Barclays as saying that the bank is winning share from US banks. The new hires include six macro trading directors, an area Barclays now wants to hire for in Europe too.


HSBC shares rose 2% after Noel Quinn said he was leaving. (Bloomberg) 

As noted by eFinancialCareers several times already, Numis analysts are having a hard time at Deutsche Bank because they can't work on lucrative advisory deals. (Bloomberg) 

UBS hired Ian Hart as co-chairman of UK banking after three years on the UK’s takeover panel. (Bloomberg) 

Juniors at Bain Consulting are having a hard time in Switzerland. Some are being sacked for flimsy reasons. Others say they're being forced to pay for business trips themselves. (InsideParadePlatz) 

Jane Street's lawsuit against two former employees who moved to Millennium involves two sets of lawyers who previously worked together at the same firm. (Bloomberg) 

Kavish Kataria, a trader on SocGen's Delta One desk, departed last year along with team head Ken Ng after an internal review of some transactions that went undetected by the bank's risk management systems. (Bloomberg) 

Christian Meissner is leaving BDT and MSD Partners only a year after joining. (Bloomberg) 

Pips Bunce Credit Suisse’s high-profile gender fluid LGBTQI+ champion is leaving after 20 years. (Financial News) 

Lessons from the CVC IPO: On the last day of bookbuilding, CVC increases the deal size by €500mn and told investors the offer would price only at €14 per share. This was a tactical masterstroke: it caught fund managers by surprise — in a good way, because it signalled both strength and restraint. (Alphaville) 

Richard Handler's new super yacht has a spa pool and helipad on her sun deck, as well as multiple bars and 15 bathrooms. The master cabin has a dressing room and a private study, and there are scooters on board to make getting around easier. (Business Insider) 

Ex-finance student with a boring life is a TikTok star. 'I feel as we get older we learn to appreciate stability and a routine, so I think the sense of peace comes with time.' (Daily Mail)  

Slow productivity is a new trend. (WSJ) 

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AUTHORSarah Butcher Global Editor

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