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NEW YORK (Reuters) -JPMorgan Chase & Co on Thursday named Anu Aiyengar as the sole head of its global mergers and acquisitions (M&A) franchise after co-head Dirk Albersmeier stepped down from the role, cementing her status as the only female executive leading global M&A on Wall Street.
The moves were announced in an internal memo sent out by JPMorgan (NYSE:JPM)’s two global co-heads of investment banking, James Casey and Viswas Raghavan. The contents of the memo were confirmed by a JPMorgan spokeswoman.
Albersmeier will take on a new “wholly client and transaction-focused role” within JPMorgan, according to the memo.
“Going forward, Anu will be the sole head of our global M&A business and Dirk will focus exclusively on providing our clients with first-class M&A advice and continuing to mentor the next generation of M&A leaders,” the memo said.
JPMorgan’s M&A leadership reshuffle comes at a time of a significant slowdown in the pace of dealmaking that has forced Wall Street’s top investment banks to undertake a big round of layoffs, which represent the biggest contraction in headcount since the financial crisis.
Aiyengar, a JPMorgan veteran of more than two decades, has led the bank’s M&A franchise since she was promoted to the role alongside Albersmeier in 2020.
She has recently led a number of significant transactions on which that JPMorgan has advised, including the sale of satellite operator Maxar Technologies (NYSE:MAXR) to private equity firm Advent International for $6.4 billion, and Saudi Aramco (TADAWUL:2222)’s $2.65 billion acquisition of the global products business of Valvoline (NYSE:VVV) Inc.
