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JPMorgan Forms New Team to Target Small-Cap M&A Deals
Summary
JPMorgan Chase & Co. has established a new investment banking team dedicated to pursuing mergers and acquisitions for companies valued between $100 million and $500 million, according to reports.
JPMorgan Chase & Co. has created a new team of investment bankers to focus on mergers and acquisitions (M&A) for small-cap companies, according to an internal memo reported by Bloomberg News on Wednesday. The group will specifically target deals for companies with valuations ranging from $100 million to $500 million.
The initiative is an extension of the bank's strategy to enhance its dealmaking capabilities in the middle market. By expanding its coverage to smaller clients, JPMorgan aims to cultivate deeper relationships and establish a stronger presence in a market segment where some major competitors are less active.
The new team will be led by John Richert, who also heads the bank's mid-cap investment-banking division. According to The Wall Street Journal, which also reported on the development, the bank intends for the group to grow to more than 75 people. The team will report to Michael Flynn, who recently joined JPMorgan from the boutique investment bank G2 Capital Advisors.
AdSeveral other key personnel have been named as part of the new effort. Arash Farin, formerly a managing director at Centerstone Capital, is among the new hires. Additionally, Jamie Eastham will join the team through an internal transfer from JPMorgan’s strategic-financing solutions business.