JPMorgan Chase on Tuesday named two top specialists in initial public offerings as co-heads of equity capital markets for the Americas, according to an internal memorandum reviewed by DealBook.
The two, Michael Millman and Jeff Zajkowski, will report to Liz Myers, the firm’s global head of equity capital markets.
Previously, Mr. Millman led the equity capital market team’s technology, media and telecom offerings, working on many of the top initial public offerings in recent years. He will still be based in San Francisco and will continue to oversee technology equity offerings worldwide.
Mr. Zajkowski was most recently in Hong Kong, where he led JPMorgan’s equity capital markets in the Asia Pacific region. He will move to New York.
Both will play bigger roles as JPMorgan continues to serve as one of the big underwriters of I.P.O.’s and other equity-related offerings. The firm is currently ranked fourth globally so far this year, according to Thomson Reuters, having underwritten 92 deals worth $10.7 billion.
Goldman Sachs currently leads the pack, having underwritten 74 deals worth $17.5 billion, followed by Morgan Stanley and Bank of America Merrill Lynch.
Here’s the memo from Ms. Myers:
To reinforce the strength of our Equity Capital Markets franchise, I am pleased to announce the Global Equity Capital Markets Senior Management Team.
Michael Millman and Jeff Zajkowski will become Co-heads of Equity Capital Markets for the Americas (ECM Americas) reporting to me. Michael and Jeff are two of our most senior leaders, each playing a significant role in building our Global ECM franchise over many years.
For several years Michael has led the U.S. TMT ECM effort, and also recently served as Global Head of Technology ECM. His leadership has helped drive a meaningful increase in our cross-border wins in the sector as well as growing our market share meaningfully in US TMT. His leadership skills, client impact and relationships particularly within Silicon Valley and the VC community are core to our business. Michael will continue to be based in San Francisco, and will continue to have responsibility over our Global ECM Technology franchise.
Jeff will return to New York from Hong Kong, where he was most recently Head of ECM for the Asia Pacific (APAC) region. Previously, Jeff was responsible for Equity-linked Origination for the Americas, where he was instrumental in building our market leading franchise in Equity-linked securities group in New York.
Nick Johnson will become Head of ECM Asia Pacific, and will report to me, and will report locally to Therese Esperdy. Nick was most recently head of Real Estate, Gaming and Lodging coverage, origination and execution for Emerging Asia. Nick has been responsible for the origination and execution of a wide range of equity, debt and M&A transactions for real estate companies with a successful track record across every region of Asia Pacific. His regional experience and strong ties to our client base make him very well suited to lead and continue strengthening our Asia Pacific ECM franchise.
Klaus Hessberger and Achintya Mangla will continue to lead our ECM EMEA franchise as co-heads, and will continue to report to me, and will report locally to Vis Raghavan. Over the past year, Klaus and Achintya have strengthened the ECM leadership team, refining our regional footprint. We have seen a resurgence in activity in the region and we expect a continuation of our positive momentum for the business in EMEA.
Daniel Darahem will continue to lead our Latin America ECM franchise, and will report to Michael and Jeff and will report locally to Lisandro Miguens. Daniel has served in a variety of senior leadership roles within the region over the last 17 years. He has been instrumental in building our ECM franchise in the region from the beginning and continues to drive momentum in our LATAM business.
Bill Contente will continue to serve as Vice Chairman of North America Equity Capital Markets, reporting to me. Bill is a trusted advisor and partner, who continues to distinguish himself both internally and externally for his sustained track record of superior performance in building trusted client relationships, as well as for his leadership of broader IB initiatives.
