Boston, MA 09/16/2014 (wallstreetpr) – Financial services provider, JPMorgan Chase & Co. (NYSE:JPM) has appointed Vincent Thiebaud to head its Switzerland’s corporate finance business division in the wake of a significant increase in investment activities there. However, the company has also witnessed an official leaving its Singapore division.
Hires Thiebaud
Thiebaud would come from another financial services provider, Credit Suisse Group AG (ADR) (NYSE:CS). He was a Director in its investment banking segment in Switzerland and concentrated on funding of capital markets besides mergers and acquisitions of domestic companies, Bloomberg reported quoting an internal memo.
JPMorgan Chase & Co. (NYSE:JPM)’s spokesperson, Kate Haywood, in London has confirmed the memo contents to Bloomberg. Thiebaud would be stationed in Zurich and would report to Senior Country Officer for Switzerland, Nick Bossart. The appointment would become effective from September 24 onwards, the company indicated.
M&A Activity Behind The Move
The New York-based company’s move was necessitated by the spurt in merger and acquisition activities of Switzerland companies thus giving an enlarged scope for investment banking activities.
According to Bloomberg data, M&A activities among the Switzerland companies have tripled in the current year over the same year-ago period. There was $161.5 billion worth of deals struck in the current year. This included Euro37.5 billion merger of Lafarge SA with Holcim Ltd.
Official Leaves Singapore Office
If there was an incumbent to JPMorgan Chase & Co. (NYSE:JPM)’s Switzerland office, there was an exit happening in its Singapore division. Reuters reported that a senior commodity trader in coal, Henry Liew, who was located in Singapore, was leaving the company. Liew would join Enerfo as the head of its commodities section in energy and coal business.
Liew was with JPMorgan for three years as its Executive Director of the company’s commodities division in Asia. The report said that JPMorgan Chase & Co. (NYSE:JPM) has neither confirmed nor denied the report and remained silent.
Enerfo has interests and operations in a number of coal concessions in Indonesia besides having access to a new coal terminal based in Kalimantan in Southeast Asia.
