J.P. Morgan Chase (JPM.US) hires Kamal Jabre, head of HSBC's global mergers and acquisitions business

The Zhitong Finance App learned that J.P. Morgan Chase (JPM.US) will hire Kamal Jabre, head of the global merger and acquisition business of HSBC Holdings (HSBC.US). According to an internal memorandum, the London-based banker will join J.P. Morgan Chase later this year as Vice Chairman of the M&A business to help expand business in Europe, the Middle East and Africa.

HSBC announced earlier this year that it will gradually close some of its investment banking operations in most parts of the world during a broader restructuring process. The media reported earlier this month that some senior bankers have left HSBC. Among them, Citigroup hired HSBC's Ed Sankey as head of equity capital markets in Europe, the UK, the Middle East and Africa.

Prior to joining HSBC, Jabre spent more than 20 years in Morgan Stanley's investment banking team, holding positions such as Head of European Financial Sponsor Services and Deputy Head of EMEA Investment Banking Operations. He also served as CEO of the Middle East and North Africa business.

According to the memorandum, J.P. Morgan Chase will also appoint Marc Pandraud as vice chairman of the merger and acquisition business. He joined J.P. Morgan Chase in 2016 as Vice Chairman of Investment Banking, focusing on customer relationships in France. Previously, he held senior positions at companies such as Deutsche Bank and Bank of America.

A J.P. Morgan Chase spokesperson confirmed the contents of the memorandum. An HSBC representative confirmed Jabre's departure but declined further comment.