New JP Morgan exec bullish on Europe’s peripheral economies

Tim Wallace
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JP MORGAN yesterday unveiled its new regional heads in an internal memo, with global equity capital markets boss Vis Raghavan taking the top job in Europe, the middle east and Africa.

He is upbeat on Europe’s outlook, telling City A.M. the region is past the worst of the crisis.

Under the bank’s new structure he will head investment banking, global corporate banking and treasury services, rather than the bank splitting their corporate offering into separate operations.

“We are focused on improving our market share and increasing our footprint in EMEA across the board. We have been in many of the countries for a long time and remain committed to the region, which includes peripheral Europe,” Vis told City A.M. “We have healthy companies in EMEA with increasing interest in growing through mergers and acquisitions and that needs financing,” he said.

It is thought that the bank’s strategy to seize market share revolves around doing deals even in weak markets to maintain client relationships and on taking ground as rival banks cut back operations and close businesses.