JPMorgan to Promote Global ECM Co-Head Millman; Mangla to be Sole ECM Head

By Dave Sebastian

JPMorgan Chase & Co. will promote Michael Millman, one of the two heads of global equity capital markets, to global chair of investment banking focused on capital markets, according to an internal memo viewed by The Wall Street Journal.

With Mr. Millman's promotion, current ECM co-head Achintya Mangla will solely lead the global ECM business, the memo said.

A JPMorgan spokeswoman confirmed the announcement.

The leadership changes come amid a dampened appetite for new listings globally, with high inflation, rising interest rates and Russia's invasion of Ukraine hurting stock prices.

Mr. Millman has been with the firm for 25 years, serving roles including head of technology investment banking and co-head of Americas ECM.

Mr. Mangla, who will relocate to New York, has been with JPMorgan for more than two decades in Hong Kong and London. He has led the company's ECM business in the Asia-Pacific and Europe, Middle East and Africa regions.

Write to Dave Sebastian at [e-mail]

(END) Dow Jones Newswires

09-29-22 2357ET