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JPMorgan Hires Deutsche Bank Veteran Ward Jones for Mid-Cap Materials Role
JPMorgan Chase has hired veteran investment banker Ward Jones from Deutsche Bank to serve as Head of Mid-Cap Basic Materials Investment Banking, according to an internal company memo seen by Reuters.
Appointment Details
Based in New York, Jones will be responsible for leading the bank's coverage of companies in the building products, building products distribution, and paper and packaging sectors. The move signals JPMorgan's intent to strengthen its investment banking franchise for middle-market companies in these key industrial areas.
The memo stated that Jones will report to Joe DeBarbrie and Dave Khalsa, who are the co-heads of mid-cap diversified industries investment banking at the firm.
AdIndustry Experience
Jones brings extensive experience from a rival institution, having most recently served as Deutsche Bank’s head of building products investment banking for the Americas. His career also includes previous investment banking roles at major financial firms Credit Suisse and Citigroup.
This type of senior-level hire from a competitor is common among Wall Street banks as they seek to gain market share and expertise in specific, high-growth sectors. Jones's deep background in the building materials space is expected to bolster JPMorgan's advisory and capital-raising capabilities for its mid-cap clients.
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