JP Morgan reshuffled several senior roles across Asia bringing the region into line with practise elsewhere within the bank to more efficiently align product delivery to clients, according to a person familiar with the matter on Tuesday.
Outside of the regional hubs of Hong Kong and Singapore, JP Morgan’s senior country officers will assume the role of head of banking in their respective countries, as is already the case in Europe and Latin America at a regional level. Banking at JP Morgan includes investment banking, corporate banking, treasury services, and global trade and loan products.
As part of this realignment JP Morgan said that Carl Chien and David Li will become co-heads of Greater China banking. The move is a promotion for Chien who is currently the senior country officer and head of investment banking in Taiwan.
Chien joined JP Morgan in 2002. Prior to joining the bank, he was an executive director with Goldman Sachs responsible for client relationship coverage in Hong Kong and Taiwan. He joined Goldman in 1997.
Chien's new co-head of Greater China, Li, is currently the senior country officer for mainland China and joined JP Morgan last year from UBS.
In other internal moves, Rohit Chatterji has also made a big step up and will become head of banking for Southeast Asia and Singapore. He is now head of mergers and acquisitions for Asia ex-Japan.
Also in an internal memo circulated on Tuesday JP Morgan said that Murli Maiya will be responsible for JP Morgan’s financial institutions group for Asia Pacific.
For most of his career, Maiya has worked extensively with financial institutions in the region, and led the financial institutions practice at JP Morgan for Asia ex-Japan and China prior to assuming his role in DCM where bank capital has been an increasing focus of his department's work. He has also spent several years within JP Morgan as an M&A banker and as a utilities and energy coverage banker.
Rainmakers Brian Gu and John Hall will have expanded responsibilites for advising very active areas for investment banking in Asia Pacific: sponsors, healthcare and technology, media and telecoms. Gu and Hall will also assume responsibility for running JP Morgan’s Asia Pacific M&A group in addition to their industry coverage responsibilities.
At the moment Gu is co-head of investment banking for China and Hall is currently head of technology, media and telecom advisory for Asia.
Gu joined JP Morgan in April 2004 after previously working at the global M&A group of Lehman Brothers in New York from 1998 to 2004. He was responsible for Greater China M&A between 2004 and 2009. Prior to his investment banking career, Gu was a senior research scientist at the University of Washington Medical School, Seattle. He holds a Ph.D. in biochemistry from the University of Washington, an MBA from Yale University and a BA in Chemistry from the University of Oregon.
Sudhir Goel will succeed Murli Maiya in running emerging Asia debt capital markets in addition to his current responsibilities as head of country sales and marketing, markets and investor services for Asia ex-Japan.
Goel taking on the DCM role is consistent with how JP Morgan operates its emerging market DCM business outside Asia. In other emerging markets, DCM is organized within the markets and investor services unit.
Nicolas Aguzin, CEO of Asia Pacific, took on the role of head of Banking Asia Pacific in February inline with places elsewhere such as Latin America and Europe where the region heads are also banking heads for their respective region. JP Morgan said last week in EMEA that Viswas Raghavan will become the Deputy CEO for EMEA in addition to his role as head of Banking for EMEA.
Many of the changes that JP Morgan announced today are the result of combining operations at the regional level under one person and that structure cascading down through the bank to a country level.
