John Coyle, a London-based managing director at JP Morgan and head of the bank’s European financial sponsors group, has been promoted to become the New York-based global head of the division.
Coyle replaces Jonathan Weiss, who left on June 6 to join Wachovia Securities as a managing director and head of its financial sponsors group, reporting to head of investment banking Kevin Roche. Coyle, who set up the dedicated European financial sponsors team in 1998 for JP Morgan, will report to Doug Braunstein, head of Americas investment banking, and will move across permanently in the autumn.
A new European head of financial sponsors has yet to be announced. It is understood that one reason for Coyle’s promotion was his international experience. The US franchise has been led by its debt expertise, while in Europe the financial sponsors team has a strong M&A presence.