JPMorgan has appointed David Holloway, a seasoned dealmaker from BNP Paribas, as a managing director to spearhead its financial sponsors coverage across Europe, the Middle East and Africa (EMEA). The hire underscores the U.S. bank's ambition to deepen relationships with private equity firms and other investment funds in the region.
Holloway's background and role
Holloway joins JPMorgan after more than a decade at BNP Paribas, where he most recently served as head of financial sponsors for EMEA. He has advised on numerous high-profile transactions, including leveraged buyouts and cross-border deals. In his new role, he will report to Chris Ventresca, global head of financial sponsors at JPMorgan, and will be based in London.
According to a memo seen by Financial News, Ventresca said: "David's extensive experience and deep relationships across the financial sponsor community will be instrumental in advancing our strategic priorities in the region."
Strategic push in financial sponsors
The move is part of JPMorgan's broader effort to strengthen its financial sponsors group, which caters to private equity, venture capital, and institutional investors. The bank has been expanding its team globally, hiring senior bankers from rivals to capture a larger share of fee income from sponsor-backed deals.
In the first half of 2023, JPMorgan ranked among the top banks globally for M&A advisory to financial sponsors, with a market share of approximately 8.5%, according to Dealogic data. The EMEA region has seen a resurgence in sponsor activity, with deal volumes rising 12% year-on-year in the second quarter.
Impact on JPMorgan's EMEA business
Holloway's appointment comes as JPMorgan seeks to bolster its presence in the competitive European investment banking landscape. The bank has been investing in talent across sectors, including technology, healthcare, and financial services. By adding a seasoned professional like Holloway, JPMorgan aims to offer more comprehensive coverage to sponsor clients, which are increasingly driving M&A and leveraged finance activity.
"The financial sponsor community is a critical growth area for us, and David's leadership will help us deliver on our commitment to being the bank of choice for these clients," Ventresca added in the memo.
