JPMorgan Chase & Co. has recruited David Bauer from personal fairness agency KKR & Co. to assist run its fairness capital markets enterprise within the Americas.
Bauer will likely be co-head of ECM Americas alongside Keith Canton, who has been sole head for the final year-and-a-half, in response to 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 likely 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 an enormous adviser to US firms 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 Road 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 know-how ECM and head of ECM enterprise capital protection.
Craig Lee, a companion who was most just lately head of insurance coverage and strategic finance at KKR, will likely be taking on Bauer’s tasks as head of ECM and co-invest on the agency.
“We’re pleased with the dynamic and highly effective capital markets enterprise that we’ve constructed,” a spokesperson for KKR stated in an announcement. “There’s a large alternative forward and we’re assured that now we have the correct workforce in place to take advantage of it.”
Launched in 2007, KKR’s capital markets group has raised greater than $1.6 trillion of debt and fairness financing for its firms and third-party purchasers, in response to a KKR 2024 Investor Day transcript.
(Provides element on JPMorgan, KKR companies from fifth paragraph.)