JPMorgan Chase has bolstered its financial sponsors team with several senior appointments, while a former partner at Eisler Capital has moved to commodity trading firm Gemcorp, reflecting ongoing talent movements in the finance industry.
JPMorgan strengthens sponsors coverage
The US bank has hired at least three managing directors to its financial sponsors group, which covers private equity firms and other institutional investors. The new hires include David Bizer, who joins from Goldman Sachs, and Michaela Moritz, previously at Credit Suisse. Both will be based in London and report to Michael Elkins, head of the financial sponsors group for Europe, the Middle East and Africa.
Additionally, JPMorgan appointed James O'Donovan as a managing director in the same team. O'Donovan came from Bank of America, where he led the financial sponsors coverage for the UK and Ireland. The moves underscore JPMorgan's push to capture more business from private equity clients, which have been active dealmakers despite a slowdown in broader M&A.
Ex-Eisler partner moves to Gemcorp
Meanwhile, commodity trading firm Gemcorp has hired a former partner from Eisler Capital, a London-based macro hedge fund. The executive, whose name was not disclosed, will join Gemcorp's trading team in a senior role. Eisler Capital, founded by former BlueCrest manager Edward Eisler, has seen several departures in recent months as the firm restructures.
Gemcorp, led by former Goldman Sachs trader Muneer Al-Husseini, focuses on emerging markets commodities and has been expanding its trading operations. The hire is part of a broader trend of talent moving from hedge funds to commodity trading houses, which have benefited from volatile energy and metals prices.
Industry context and impact
The appointments at JPMorgan come as banks compete fiercely for top talent in the sponsors space, where fees from private equity clients have remained robust. According to data from Dealogic, global private equity-backed M&A volumes reached $1.2 trillion in 2021, though they have moderated since. JPMorgan's moves signal confidence in the deal pipeline.
For Gemcorp, the addition of an ex-Eisler partner brings expertise in macro trading, which is valuable in the current environment of interest rate shifts and geopolitical uncertainty. The commodity trading sector has seen significant hiring from hedge funds as firms seek to capitalize on market dislocations.
