Press release

J.P. Morgan (NYSE: JPM) today announced that David Mayhew, Chairman of J.P. Morgan Cazenove, has been named a Vice Chairman of the global Investment Bank. He will report to Jes Staley, CEO of the Investment Bank and head of the firm’s international business. Tim Wise, Deputy Chairman of J.P. Morgan Cazenove, will become Chairman of J.P. Morgan Cazenove, reporting to Emilio Saracho, head of EMEA Investment Banking.

“It is pleasing to see J.P. Morgan Cazenove flourishing seven years after the two firms first shook hands,” said Mayhew, referring to the original joint venture. “Two years after announcing a fully integrated J.P. Morgan Cazenove, I’m delighted to note that we have kept our promise to create the U.K.’s leading investment bank.”

Mayhew added, “With J.P. Morgan Cazenove in such good form, I am looking forward to spending more time with our clients. Tim and I have been working together for some time and I am delighted that we have a person of his calibre to take on the role of Chairman.”  

Through October, J.P. Morgan Cazenove maintained its status as the U.K.’s top corporate broker, acting as advisor to 35 companies in the FTSE 100 and 99 companies in the FTSE 250, according to Hemscott. The bank also ranked #1 in U.K. equity capital markets, #2 in U.K. mergers and acquisitions and #1 in overall U.K. wallet share, according to Dealogic.

“It is a privilege to take on this new role,” said Wise. “We have a very strong team and I am confident that we can continue the successes of recent years. I have been fortunate to work alongside David for the last 12 years. He sets the standard to which we all aspire and I’m delighted that we will continue to work closely together.”

In addition to his role as Deputy Chairman of J.P. Morgan Cazenove, Wise is an original member of the executive committee formed when the two firms first created a joint venture in 2004. He joined Cazenove in 1999 and became head of Corporate Finance in 2001. Prior to Cazenove, Wise was a senior banker in corporate finance at Dresdner Kleinwort Benson.

“David and Tim are exceptional bankers,” said Staley. “They represent the stability of our management team and the depth of talent that allows us to maintain consistent service to clients year after year.”

J.P. Morgan and Cazenove first announced a joint venture in November of 2004 to provide investment banking services to clients in the U.K. Five years later, in November of 2009, Cazenove announced that it would become a wholly owned part of J.P. Morgan.