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JPMorgan Chase has created a brand new sports-focused funding banking workforce because the Wall Street financial institution seeks to faucet the more and more engaging business, in accordance with an inside memo seen by Reuters on Tuesday.
The financial institution has created a brand new “sports investment banking coverage group” which can supply advisory and financing options for actions like investing in sports activities franchises to shoppers globally.
“Sports has become an increasingly large asset class, attracting more and more institutional investors,” Fred Turpin, world head of media and communications funding banking, mentioned within the memo.
Eric Menell and Gian Piero Sammartano will co-lead the brand new funding banking workforce and report back to Turpin. Sammartano will keep his native reporting line in to Burkhard Koep, the pinnacle of Telecoms and Media EMEA.
JPMorgan has labored on a variety of offers within the sector, together with British billionaire Sir Jim Ratcliffe’s current acquisition of a minority stake in Manchester United.
The financial institution already has a sports activities financing franchise that has financed stadiums for a lot of groups in main U.S. sports activities leagues and globally.
First uploaded on: 19-03-2024 at 22:34 IST
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