JPMorgan hires two bankers for Asia-Pacific equity markets

By Dave Sebastian

JPMorgan Chase & Co. is adding two bankers to its Asia-Pacific equity capital markets team, including one it hires from Credit Suisse Group AG, according to an internal memo reviewed by The Wall Street Journal.

Sunil Dhupelia, who was co-head of equity capital markets at Credit Suisse and head of the Asia-Pacific equity syndicate, will become JPMorgan’s co-head of equity capital markets for Asia ex-Japan from mid -September, according to the memo. Mr. Dhupelia’s hiring was reported earlier by Bloomberg News.

Gautam Sareen, who most recently worked for the family office of Hong Kong-based conglomerate Nan Fung Group, will lead the investment bank’s alternative equity finance business in Asia Pacific, the memo said.

Mr. Dhupelia will be based in Hong Kong, and Mr. Sareen will initially be based in Hong Kong before moving to Singapore, subject to local approval, according to the memo.

The rating was confirmed by a JPMorgan spokesperson.

Prior to working at Credit Suisse, Mr. Dhupelia was at UBS Group AG, where he led the bank’s equity syndicate for Asia. Mr. Sareen joins JPMorgan after working there from 1999 to 2008.

Equity markets around the world have been affected by market volatility caused by soaring inflation, rising interest rates, Russia’s invasion of Ukraine and uncertainty over the trajectory of the Covid-19 pandemic. IPOs in Asia excluding Japan have raised $50.98 billion so far this year, compared to $75.58 billion in the same period of 2021, according to Dealogic.

Write to Dave Sebastian at [email protected]