JPMorgan Chase & Co. has named John Gammage global head of the investment bank's financial sponsor group, according to a memo seen by Private Equity International .
Gammage will remain in his current position as vice chairman of investment banking, and will continue to report to the head of North America investment banking, Eric Stein.
Gammage replaces former head Karen Simon, who was named to the newly created position of head of director advisory services in April.
Gammage will be responsible for driving coverage and strategy for the bank's global financial sponsor clients, and will lead the bank's team advising private equity firms on leveraged buyouts, mergers, and initial public offerings.
Avery Whidden will become head of the North America financial sponsor group, and will also report to Stein. Whidden joined JPMorgan in 2012, after 13 years at Deutsche Bank, and has nearly two decades of investment banking experience covering financial sponsors.
Gammage's appointment was first reported by Bloomberg News. A spokesman for JPMorgan could not be reached for comment.