JP Morgan has restructured its stock capital market team and appointed a new head for Australia and Southeast Asia.

JPMorgan (JPM.US) is adjusting its Equity Capital Markets (ECM) leadership, replacing its Australian ECM head and appointing a new Southeast Asia head. According to a memo sent to employees by JPMorgan on Friday, the bank has hired Justin Grimmond, who has been the ECM head at Royal Bank of Canada's Sydney branch for the past ten years. He will take up his new position in June. According to a memo signed by Sunil Dhupelia and Peihao Huang, co-heads of Asia-Pacific Equity Capital Markets, and Niccolo Manno, head of Asia-Pacific Equity Capital Markets Syndicate, Grimmond will replace Jonas Troeber, who plans to move to Hong Kong later this year to help lead the Asia-Pacific Equity Capital Markets Syndicate team. The bank has also hired David Cameron-Smail, who will join the company in June as the Southeast Asia ECM head based in Singapore. Cameron-Smail comes from UBS Group AG, where he served as the Southeast Asia and India ECM head. A spokesperson for JPMorgan confirmed the contents of the memo. The bank also informed employees that Peter Meletis will be moving from his current position in the Australian equity sales team to lead the Asia-Pacific Equity Syndicate team responsible for the Australian business. Starting in early May, he will report to Troeber in his new role. According to data compiled by Bloomberg, stock and equity issuances in Australia and New Zealand grew by 22% in 2024, with companies raising $17.4 billion through stock and equity issuances, compared to $14.3 billion in 2023.