Head of Global Equity Capital Markets J.P. Morgan, JPMorgan Chase
One of the hardest parts of managing nearly 200 people around the world is getting them to work together as if they are all in the same room.
Elizabeth "Liz" Myers has teams in New York, San Francisco, Tokyo, Hong Kong, Singapore, Sydney, and London. But no matter the region where they are, J.P. Morgan bankers have to be thinking globally, much as their clients are.
To help facilitate that process, Myers convened a two-day gathering of her managing directors last year so they could discuss clients' needs. The event is now in its third year and is expected to be annual.
The results of such face time are notable. "Each year there's at least one major cross-border transaction which is won subsequently as a result of in-person connectivity across regions," Myers said.
For example, a Chinese client, working with J.P. Morgan in Hong Kong, had a subsidiary in Austria. Although most companies like to go public where they are headquartered, in this case executives at the Chinese company felt investors might more receptive to the offering if it was done in Europe, because of so many similar companies being based there. At the senior global meeting, the Hong Kong bankers were able to discuss the opportunity with their European counterparts.
While things like teleconferencing has made worldwide communication easier, Myers says real face time still works better. "You can have all the technology in the world," Myers said. "But you're still confronted with time zones."
Earlier this year Myers also developed a private capital markets business that offers clients capital-raising alternatives such as pre-IPO financing, acquisition financing and private investments in public equity. The team, which is U.S. focused for now, completed four deals within the first four months since its formation.