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(Reuters) - JPMorgan Chase & Co has hired Humberto Garcia-Salas and Andrew Redmond as managing directors for its Mid-Cap Investment Banking division, as it seeks to further strengthen its investment banking segment, according to a memo seen by Reuters.
Wall Street banks are increasingly seeing improvement in investment banking activity with the equity market rallying on rate-cut and soft-landing expectations and with capital markets continuing to see a strong public listing pipeline.
Garcia-Salas is a former JPMorgan executive who joins the bank from Greenhill & Co., where he spent nearly eight years and was most recently a managing director.
Redmond will join the firm later this year from Guggenheim Partners, where he was also a managing director, the memo added.
Both will report to John Richert, the head of Mid-Cap investment banking.
Last week, JPMorgan named Andrew Castaldo and Andrew Martin as co-heads of the mid-cap mergers and acquisitions unit.
JPMorgan serves more than 30,000 middle-market clients and advised on over 200 middle-market M&A transactions - generally worth below $2 billion - in 2023.
(Reporting by Jaiveer Singh Shekhawat in Bengaluru and Nupur Anand in New York; Editing by Janane Venkatraman)
