JPMorgan’s co-head of mergers and acquisitions has quit after more than 20 years to join US buyout group TPG Capital as a partner, prompting a reshuffle of the bank’s senior management in its European advisory business, Financial News reports.
Dag Skattum, global co-head of M&A with responsibility for the bank’s advisory business in Europe, the Middle East and Africa, is leaving JPMorgan after 21 years. New York-based Jimmy Elliott, his former counterpart, will become sole head of the bank’s M&A business.
Skattum’s departure comes as JPMorgan tops a league table for fees paid to investment banks by financial sponsors after earning almost $900 million (656 million) in the first half of the year, according to data provider Dealogic.