JPMorgan hires senior CPPIB executive as bank expands in Canadian equities

JPMorgan's expansion in Canada is a statement of confidence in Prime Minister Mark Carney's government, which aims to attract $1 trillion in investment in the next five years, and is an example of U.S. business interest in the country despite fraying political ties with the United States.

"We believe that inbound Canadian investment will accelerate over the next decade and we want to be better positioned to capture these flows in both private and public markets," Canada CEO David Rawlings said in an interview.

"We continue to be active on outbound activity but plan to spend more time with global pools of capital focused on the inbound activity," he said.

Rawlings said JPMorgan, which established a Canadian equities team about eight years ago after regulatory changes, is now investing further in the business through senior hires, additional capital and likely expansion of its research team over time.

In Canada, JPMorgan has worked on major deals recently, including Rockpoint Gas Storage's TSX IPO and Alimentation Couche-Tard's deal to buy Poland's Zabka.