JPMorgan Appoints Rob Sweeney as Global Chair of Investment Banking

JPMorgan Chase has appointed Rob Sweeney, a former Goldman Sachs banker and Sycamore executive, as Global Chair of Investment Banking as the bank expands its investment banking operations and strengthens its corporate client relationships.

According to an internal memo, Sweeney will advise major corporate clients, with a particular focus on the consumer and retail sectors. He will also work with senior bankers to strengthen key client relationships and help lead the bank’s security and resilience initiatives, Filippo Gori and John Simmons, co-heads of Global Banking, said in the memo.

The appointment comes as investment banks compete for a larger share of the recovering mergers and acquisitions and equity issuance markets. JPMorgan has hired more than 1,000 bankers globally this year, according to a source cited by Reuters, while expanding its industry and regional coverage teams.

The bank has also made several senior appointments in recent months, including Amy Lissauer as Global Head of Shareholder Activism and Michael Flynn as Head of Small-Cap Investment Banking.

JPMorgan’s investment banking fees rose 30 per cent year-on-year in the second quarter, reaching their highest level since 2021. In September, Co-President Doug Petno indicated that the bank expected third-quarter investment banking fees to increase by a mid-to-high teens percentage, supported by a strong deal pipeline and broad-based business growth.