Emilio Saracho and Viswas Raghavan, both of JP Morgan, have been promoted from their roles at the Canary Wharf office to global roles at JPMorgan EMEA Corporate & Investment Bank, which indicates the success of the London branch.
Saracho is moving after two years as deputy chief executive for the corporate and investment bank (CIB) in Europe, Middle East and Africa (EMEA), to become one of three vice chairmen for global business.
Raghavan will take on Saracho’s previous position but will retain his role as head of banking for the EMEA. He will also be the CIB’s No. 2 in this region, working under Daniel Pinto, the chief executive for JPMorgan’s EMEA CIB.
Raghavan said he believes that businesses have been acting more strategically in recent years. “The level of strategic thinking and activity is higher than we have seen for quite a few years. How much of that translates into activity remains to be seen, but based on recent activity and the pipeline, it looks very promising,” he says.
According to Raghavan, 2015 will be the year for booming M&A markets and acquisitions are being carried out because high share prices are pressuring corporate chief executives to find cheaper ways to improve their earnings.
Dealogic states that JPMorgan was the second largest operator in EMEA investment business in the first quarter of 2015, in comparison to 2014 when it was the biggest, with a market share of 7.5%.
Saracho and Raghavan will work under Pinto and Mary Erdoes, head of JPMorgan Asset Management. They both said in an internal memo that “Emilio and Vis are among the leaders that have helped us reshape our business, adapt to new rules, simplify our structure, and strengthen control.”
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