Evercore hires JPMorgan health care banking head

In this week's banking news roundup: JPMorgan's Ben Carpenter will join Evercore as a senior managing director; Wells Fargo hired Jackie Krese to lead syndications within its fund finance group; the SEC is probing Jefferies over its connection to bankrupt auto parts supplier First Brands Group; and more.

JPMorgan
Bloomberg

Evercore hires JPMorgan health care banking head Ben Carpenter

JPMorganChase's Global Co-head of Health Care Investment Banking Ben Carpenter has left the firm for a role at Evercore, according to people familiar with the matter. 

Carpenter resigned from the biggest U.S. bank last week and will be joining Evercore as a senior managing director next year, the people said, asking not to be identified because the hire hasn't been announced. 

He'll help lead Evercore's health care practice and focus on advising biopharmaceutical companies, one of the people said.

Representatives for JPMorgan and Evercore declined to comment. Carpenter didn't respond to a request for comment. 

Carpenter began his career at JPMorgan then spent about 15 years at Citi before returning to JPMorgan in 2021 to be co-head of health care mergers and acquisitions. He later was appointed co-head of North America mergers and acquisitions before taking over health care investment banking coverage with Jeremy Meilman last year. —Michelle F. Davis, Bloomberg News
Wells Fargo
Angus Mordant/Bloomberg

Wells Fargo hires Jackie Krese to head fund finance syndications

Wells Fargo has hired Jackie Krese as a managing director and global head of syndications within its fund finance group, according to a person with knowledge of the matter.

Krese will be responsible for leading a team of bankers focused on the distribution of syndicated fund financings and other capital raising solutions, the person said, asking not to be identified discussing a private situation.

Krese will report to Paul Schoper, head of fund finance. She will start in early January and be based in New York, they added. 

A spokesperson for Wells Fargo confirmed the hire and declined to comment further. Krese didn't immediately respond to a request for comment.

Krese previously worked at BlackRock as head of U.S. capital markets, where she led a push to expand ESG, fund raising, liquid syndicate and private sourcing. —Paula Seligson, Bloomberg News
Roundup slide on Cully Davis leaving the firm
Jeenah Moon/Bloomberg

SEC probing Jefferies over First Brands disclosures, FT Says

The Securities and Exchange Commission is probing Jefferies Financial Group over its relationship to bankrupt auto parts supplier First Brands Group, according to the Financial Times. The watchdog is seeking information about whether the bank gave investors in its Point Bonita fund sufficient disclosures about its exposure to First Brands, the FT said, citing two people it didn't identify. The SEC is also looking into internal controls and potential conflicts within and between different parts of Jefferies, according to the newspaper.

Representatives for Jefferies and the SEC declined to comment. The FT said the SEC inquiry is at an early stage and it is not clear whether it will result in any allegations of wrongdoing.

Jefferies shares have tumbled since it disclosed its exposure to First Brands. At Point Bonita, a unit of Jefferies' Leucadia Asset Management, about a quarter of the $3 billion portfolio was tied to so called trade finance agreements running through First Brands. —Tom Metcalf, Bloomberg News
Credit Suisse
Pascal Mora/Bloomberg

Credit Suisse charged over laundering tied to Mozambique loan

Swiss prosecutors charged Credit Suisse with failing to prevent money laundering linked to loans the lender provided to Mozambique to build a fishing fleet in what became the tuna bond scandal. 

Credit Suisse and its now parent company UBS Group have been charged "with not taking all the required and reasonable organizational measures in the relevant period in 2016 to prevent the money laundering that was allegedly committed," the Office of the Attorney General of Switzerland said in a press release on Monday. It also said it has filed an indictment against an individual who worked at Credit Suisse. 

"We firmly reject the Office of the Attorney General's conclusions and will vigorously defend our position," UBS said in a statement. UBS in 2023 reached a settlement with Mozambique over Credit Suisse's role in the ship financing scandal. That agreement brought to a close a case that began a decade ago when Credit Suisse first financed the construction of a new coastal patrol force and tuna fishing fleet for Mozambique. —Steven Arons, Bloomberg News
group Names Yuko Nakayama as Japan ECM Head
Daniel Acker/Bloomberg

Citi names Yuko Nakayama as Japan ECM head

Citi has named Yuko Nakayama as head of equity capital markets for Japan investment banking. Her appointment at the firm's local investment banking subsidiary takes effect Monday, according to an internal memo seen by Bloomberg News and confirmed by a spokesperson. Nakayama returned to Citi in 2023 after eight years at Goldman Sachs.

Citi ranks 10th among managers for Japan-related equity and equity-linked securities offerings this year, after finishing 2024 in eighth place, according to data compiled by Bloomberg —Takashi Nakamichi, Bloomberg News
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