JPMorgan has hired a senior managing director to lead its financial institutions group for northern Europe, poaching Jochen Mehltretter from Morgan Stanley less than two years after his promotion to MD.
Mehltretter is now head of Northern Europe FIG within JPMorgan’s London debt capital markets division, which sits in its EMEA investment grade finance team. He has just been given the thumbs up from the Financial Conduct Authority, but has actually been working at JPMorgan since January, according to sources close to the situation.
JPMorgan confirmed Mehltretter’s appointment.
JPMorgan has been shaking up its European FIG team, appointing Piers Davison to lead the division, according to Financial News. He was previously head of corporate finance execution for the bank’s EMEA FIG unit, a position taken up by Andreas Lingh, who previously covered financial institutions for the Nordic region.
The latter is Mehltretter’s old stomping ground; he joined Morgan Stanley in 2009 and was latter head of Benelux and Nordic DCM FIG coverage. He was promoted to managing director at the bank in 2012.
Prior to Morgan Stanley, Mehltretter worked at Lehman Brothers – and subsequently Nomura – from 2003.
Globally, the financial sector accounted for 47% of all DCM activity in the first quarter, according to data from Thomson Reuters. JPMorgan tops the global DCM league tables, with 8.6% of the market, while Morgan Stanley ranked 8th. However, in EMEA, JPMorgan ranked 3rd in the first quarter, down from the top spot in 2013, and Morgan Stanley came in 9th.
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