JPMorgan (JPM.N) is expanding its technology team in the investment bank with four West Coast hires from Goldman Sachs, Bank of America and Lazard, according to a memo to staff seen by Reuters.
“Serving the technology sector is a top priority for our firm, and we’re consistently investing in the best talent across the industry to deliver more value to our clients,” global co-heads of technology investment banking Chris Grose and Greg Mendelson said in the memo.
Mark Garcia is joining JPMorgan as vice chairperson and global head of semiconductors from Bank of America while Eric Quanbeck and Brett Miller are both leaving Goldman Sachs to join as managing directors.
Peter Duda is leaving Lazard to join JPMorgan as a managing director supporting software. Quanbeck will become the bank's head of applied technology while Miller will become JPMorgan's co-head of enterprise and cloud, Grose said. Garcia, Quanbeck and Duda will be based in San Francisco while Miller will work from Seattle.
“Technology powers many sectors and has long been a driving force behind global innovation, advancement and connectivity," Mendelson said, adding that the bank was "dedicated to deepening our relationships with these incredible companies that are changing the world."
The expansion of the group comes at a time as the bank lands major deals in the sector, having recently advised Global Payments on its $24.25 billion acquisition of payment processor Worldpay. It also advised Turn/River on its $4.4 billion take-private deal of IT management software maker SolarWinds as well as DoorDash on its $3.9 billion acquisition of the restaurant delivery platform Deliveroo. It additionally helped CoreWeave with its $23 billion stock debut in March.
