JPMorgan expands its innovation economy team
JPMorgan has bolstered its commercial banking business with the hiring of almost 20 new bankers as it looks to continue to expand its offerings to start-ups and high-growth companies in the UK, Ireland, Germany, Austria and Switzerland. The new hires will join JPMorgan’s innovation economy business, which operates within its commercial banking division. Most of these hires will be based in London.
The appointments come as part of an ongoing push from the bank to cater to the start-up sector previously served by US-based lender Silicon Valley Bank (SVB), which collapsed in March. The new additions to the senior executive team include former SVB executives Rosh Wijayarathna (pictured, left top), who will be appointed as a managing director and the innovation economy lead for the UK and Ireland, and Folake Shasanya (pictured, left middle), who will become a managing director and head of venture capital coordination within the region.
In addition, Thomas Easter will be appointed as innovation economy relationship executive for the UK and Ireland, and Ben Tickler will become the innovation economy relationship executive.
JPMorgan has also hired former SVB president, John China (pictured, left bottom), to co-head the business globally alongside Melissa Smith, who has been leading the team for the past five years.
Its commercial banking business began its global expansion in 2019 with the aim of serving midsize companies headquartered outside the US. To date, the business has grown to 175 client-facing employees covering 26 countries.
| Max Magor Ndiaye, director of syndication, co-financing and client solutions department – African Development Bank |
The African Development Bank (AfDB) has appointed Max Magor Ndiaye, the current acting director of the department, as the director of its syndication, co-financing and client solutions department.
During his tenure as acting director, Mr Ndiaye has successfully led syndication projects within Africa, totalling more than $2.5bn. Notable achievements in his career include closing an $8bn co-financing partnership with Japan and delivering a $2bn balance sheet optimisation transaction with the UK government and London-based private insurers. This particular deal enabled the bank to significantly expand its climate and sustainable lending capacity.
Mr Ndiaye initially joined the AfDB in 2009 as a senior treasury risk officer and later assumed the position of principal financial analyst within the treasury department. In 2018, he was promoted to manager of the financial technical services division.
| Adil Rehman, managing director, global head of payments and liquidity – Mitsubishi UFJ Financial Group (MUFG) |
As part of its expansion efforts to increase the adoption of its payment and cash management services, MUFG has appointed Adil Rehman as managing director of global payments and liquidity.
In his new role, Mr Rehman will lead on the development of its payment and cash management services, including the introduction of new foreign exchange payments, wire transfers, and local automated clearing house payment services.
Mr Rehman brings 18 years of experience in transaction banking and foreign exchange services. In his most recent role as the international head of transaction banking at Goldman Sachs, he was tasked with the global expansion of the bank’s cash management, foreign exchange, and payment businesses. Prior to that, he held senior-level positions at Deutsche Bank, where he was responsible for passive currency overlay and derivatives trading.
Mark Litz, managing director, software and technology – DC Advisory
DC Advisory has hired Citi’s former European head of fintech investment banking Mark Litz as a managing director within its software and technology team.
During his 17-year career at Citi, Mr Litz advised a range of clients including Banking Circle, Handelsbanken, Klarna and OakNorth. Prior to that he held positions at Dresdner Kleinwort Wasserstein and Bear Stearns.
DC Advisory’s technology and software division consists of a team of 70 bankers, including 20 managing directors. Over the past two years, the Japanese-owned investment bank has expanded its ranks with 26 senior hires.
