NEW YORK - J.P. Morgan & Co. has hired four investment bankers from Schroder & Co. to beef up its coverage of small- to mid-cap industrial companies.
Ted Cook, who headed Schroder's global industrial manufacturing investment banking group, joined Morgan on Wednesday, along with Chris Gallea, Robert Burns, and Sean Sullivan.
The new hires will help Morgan broaden its industrial client base. Morgan has focused primarily on large- to mid-cap companies in that sector, a spokesman said.
The team will focus on mergers and acquisitions, equities underwriting, derivatives, and risk management and be based in New York. Globally, Morgan has about 70 investment bankers covering the industrial sector.
Morgan hopes to hire 70 to 100 investment bankers across several sectors this year, particularly with a focus on continental Europe, technology, media, and telecommunications, the spokesman said.
Last year Morgan ranked fourth among advisers for mergers and acquisitions globally, according to Thomson Financial Securities Data, an American Banker affiliate. The company ranked 12th as an adviser in U.S. deals, Thomson Financial said. A spokesman for Schroder & Co., a unit of Schroders PLC of London, did not return a telephone call seeking comment.