JPMorgan hires veteran dealmaker Rob Sweeney amid investment banking expansion
JPM•JPMorgan appointed former Goldman Sachs and Sycamore executive Rob Sweeney as a global chair of investment banking. The bank has hired more than 1,000 bankers globally this year, while second-quarter investment banking fees rose 30% year over year.
1. Sweeney’s new role
Sweeney will advise major corporate clients, particularly in consumer and retail, and work with senior bankers on key relationships. He will also help lead the bank’s security and resilience initiatives, according to a memo from global banking co-heads Filippo Gori and John Simmons.
2. Banking expansion
JPMorgan has been expanding coverage teams across industries and regions as corporate activity picks up. Recent senior hires include Amy Lissauer as global head of shareholder activism and Michael Flynn as head of small-cap investment banking.
3. Fees and outlook
JPMorgan’s investment banking fees rose 30% in the second quarter from a year earlier, their highest level since 2021. In September, Co-President Doug Petno said the bank expected third-quarter fees to rise by a mid-to-high teens percentage year over year, supported by a strong deal pipeline and broad-based strength across the business.
