JPMorgan Chase & Co. has recruited David Bauer from non-public fairness agency KKR & Co. to assist run its fairness capital markets enterprise within the Americas.
Bauer will probably be co-head of ECM Americas alongside Keith Canton, who has been sole head for the final year-and-a-half, in accordance with an inner memo reviewed by Bloomberg Information.
Bauer has spent roughly six years with KKR as its head of ECM, and beforehand labored at Goldman Sachs Group Inc. for greater than a decade. At JPMorgan, Bauer will probably be based mostly in New York and report back to Kevin Foley, international head of capital markets.
A consultant for JPMorgan confirmed the contents of the memo.
JPMorgan is a giant adviser to US corporations on ECM transactions and has labored on about $2.3 billion of IPOs on US exchanges this 12 months, information compiled by Bloomberg present.
This summer season, the Wall Avenue agency has employed Financial institution of America Corp. veteran Sumit Mukherjee as head of ECM markets intelligence and Tegh Kapur from Morgan Stanley as a managing director in expertise ECM and head of ECM enterprise capital protection.
Craig Lee, a associate who was most just lately head of insurance coverage and strategic finance at KKR, will probably be taking up Bauer’s obligations as head of ECM and co-invest on the agency.
“We are proud of the dynamic and powerful capital markets business that we’ve built,” a spokesperson for KKR stated in a press release. “There is a tremendous opportunity ahead and we are confident that we have the right team in place to make the most of it.”
Launched in 2007, KKR’s capital markets group has raised greater than $1.6 trillion of debt and fairness financing for its corporations and third-party purchasers, in accordance with a KKR 2024 Investor Day transcript.
(Provides element on JPMorgan, KKR companies from fifth paragraph.)