JPMorgan Hires Sweeney, Adds 1,000 Bankers Globally

JPMorgan Chase has appointed former Goldman Sachs and Sycamore executive Rob Sweeney as global chair of investment banking. He will advise major corporate clients, particularly in consumer and retail, support senior bankers on key relationships, and contribute to the bank’s security and resilience efforts. The hire is part of a broader expansion as JPMorgan and its rivals compete for business amid a recovery in dealmaking; the bank has added more than 1,000 bankers this year and made other senior appointments, including Amy Lissauer and Michael Flynn. JPMorgan’s investment banking fees rose 30% year over year in the second quarter, and co-president Doug Petno has forecast a mid-to-high-teens increase in third-quarter fees, while the bank’s hiring and other investments are also adding to costs.