(Reuters) – JPMorgan Chase has named David Bauer as its new co-head of equity capital markets in the Americas, according to an internal memo seen by Reuters on Wednesday.
Bauer, who joins the largest U.S. bank from private equity giant KKR, will lead the unit along with Keith Canton, the memo said.
He has spent six years at KKR as the ECM head of the investment firm. Bauer was previously employed for 13 years at investment banking powerhouse Goldman Sachs.
Banks are gearing up for a meaningful recovery in the U.S. market for new listings after a two-year slump kept high-profile startups on the sidelines.
Secondary share sales, already on the road to recovery, are also expected to see a boost in activity after the U.S. Federal Reserve eases monetary policy and market jitters settle.
JPMorgan’s second-quarter profit beat estimates in July, helped by a resurgence in dealmaking and strong capital markets. Investment banking fees surged 50% in the quarter.
(Reporting by Manya Saini in Bengaluru and Nupur Anand in New York; Editing by Krishna Chandra Eluri)
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