One of JPMorgan Chase’s heads of debt capital markets, Andrew O’Brien, will take on a broader new role overseeing lending activity across the investment bank, the firm announced in an internal memo on Thursday.
Mr. O’Brien will take on the new title of global head of loan capital strategy and will report to both Jeff Urwin, the global head of investment banking, and Don McCree, the global head of corporate banking and treasury services, according to the memo, which was reviewed by DealBook.
The other co-head of debt capital markets, James Casey, will become the sole head of the group. He will continue to report to Mr. Urwin.
A spokeswoman for JPMorgan confirmed the contents of the memo.
Mr. O’Brien is a 29-year veteran of the firm who has spent much of his career overseeing lending to corporate clients. Among the deals he has worked on are Verizon Communications’ $130 billion purchase of Vodafone‘s stake in its wireless unit and AT&T’s aborted $39 billion takeover of T-Mobile USA, which involved the biggest-ever loan made by the bank alone.
He also played roles in Dell’s sale to its founder and the investment firm Silver Lake, and Comcast’s $45 billion takeover of Time Warner Cable.
“Andy’s unique mix of client, product, market and leadership skills and experiences make him particularly qualified to ensure we succeed in this new and important initiative,†Mr. McCree and Mr. Urwin wrote in the internal memo.
Mr. Casey, who has been with JPMorgan for 17 years, has worked on such transactions as H.J. Heinz’s $23 billion sale to 3G Capital and Berkshire Hathaway, and Sprint Nextel’s sale of $6.5 billion worth of junk bonds, the single biggest noninvestment-grade offering ever sold directly to investors.
The two became co-heads of debt capital markets in 2011.
