BackJPMorgan’s Rohit Chatterji said to run Asia M&A as Rob Sivitilli quits
While Chatterji had been co-head of global banking in India, Sivitilli resigned as the head of mergers and acquisitions after 18 years
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Hong Kong: JPMorgan Chase and Co. promoted Rohit Chatterji to lead mergers and acquisitions for Asia outside Japan as Rob Sivitilli resigned from the post after 18 years at the biggest US bank, a person with knowledge of the move said.
Sivitilli, 41, is quitting for family reasons and will leave in July, said the person, who asked not to be named as the matter is private. Chatterji had been co-head of global banking in India and oversaw investment banking there.
JPMorgan had forecast a 30% increase in the value of mergers and acquisitions in Asia for 2014. Sivitilli said in a November interview that energy companies, financial firms and Asian buyers expanding in the US and Europe would drive the surge. So far this year, pending and completed deals in the Asia-Pacific region totalled $267.6 billion, a 39% increase from the same period in 2013, according to data compiled by Bloomberg.
Sivitilli, a native of Canada, joined JPMorgan in New York in 1996 and moved to Singapore in 2010 when he was named head of Southeast Asian corporate finance and mergers and acquisitions. He was appointed to his latest post in September 2012.
Chatterji moved to India from Hong Kong in 2010 and replaced Vedika Bhandarkar, who left in April of that year to join Credit Suisse Group AG as head of India investment banking.
Marie Cheung, a spokeswoman for New York-based JPMorgan in Hong Kong, declined to comment on Sivitilli’s resignation, which was reported earlier on Sunday by the Wall Street Journal.
JPMorgan has faced several senior departures this year, including Mike Cavanagh, who was co-head of the firm’s corporate and investment bank and served as a close deputy to chief executive officer Jamie Dimon for more than two decades.
In Asia, Fang Fang, CEO of investment banking for China, resigned in March after more than 12 years at the firm amid an investigation into its Asian hiring practices. Ray Eyles, CEO of Asia commodities, quit after 25 years at the bank as it withdraws from physical products, according to a memo seen by Bloomberg last month.
--With assistance from Nikolaj Gammeltoft in New York. Bloomberg
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