By Dave Sebastian
JPMorgan Chase & Co. is adding two bankers to its Asia-Pacific equity capital markets team, including one whom it is hiring from Credit Suisse Group AG, according to an internal memo reviewed by The Wall Street Journal.
Sunil Dhupelia, who was Credit Suisse's co-head of equity capital markets and head of Asia-Pacific equity syndicate, will become JPMorgan's co-head of equity capital markets for Asia excluding Japan starting mid-September, according to the memo. Mr. Dhupelia's hiring was earlier reported by Bloomberg News.
Gautam Sareen, who most recently worked for Hong Kong-based conglomerate Nan Fung Group's family office, will lead the investment bank's Asia-Pacific alternative equity financing business, the memo said.
Mr. Dhupelia will be based in Hong Kong, and Mr. Sareen will initially be based in Hong Kong before relocating to Singapore, subject to local approval, according to the memo.
The memo was confirmed by a JPMorgan spokesperson.
Before working at Credit Suisse, Mr. Dhupelia was at UBS Group AG, where he ran the bank's equity syndicate for Asia. Mr. Sareen is rejoining JPMorgan after previously working there from 1999 to 2008.
Equity capital markets globally have been hit by market volatility brought on by surging inflation, rising interest rates, Russia's invasion of Ukraine and uncertainty over the trajectory of the Covid-19 pandemic. Initial public offerings in Asia excluding Japan have raised $50.98 billion so far this year, down from $75.58 billion in the same period in 2021, according to Dealogic.
Write to Dave Sebastian at firstname.lastname@example.org
(END) Dow Jones Newswires