JP Morgan names Cristerna, Ventresca co-heads of global M&A: memo
By Sophie Sassard
LONDON (Reuters) - JP Morgan (JPM.N: Quote) has appointed Hernan Cristerna and Chris Ventresca to the newly created roles of co-heads of global mergers and acquisitions (M&A), according to a memo seen by Reuters.
Cristerna, 48, was previously head of M&A for Europe, Middle East and Africa, while Ventresca, 46, was head of M&A for North America. They will report to Jeff Urwin, global head of investment banking.
A spokeswoman for the bank confirmed the contents of the memo.
JP Morgan ranks second behind Bank of America Merrill Lynch (BAC.N: Quote) on worldwide M&A advisory with $161.5 billion of announced deals since the beginning of the year according to Thomson Reuters data.
The investment bank has advised on some of the most significant transactions of the year, including the $28 billion acquisition of Heinz by 3G Capital and Berkshire Hathaway Inc (BRKa.N: Quote), Virgin Media Inc's VMED.O $23.3 billion merger with Liberty Global Inc (LBTYA.O: Quote) and General Electric Co's (GE.N: Quote) $18.1 billion sale of NBCUniversal to Comcast Corp CMCSA.N.
Most recently, Ventresca led Virgin Media's Liberty Global deal, as well as United Technologies Corp's (UTX.N: Quote) $16.5 billion acquisition of Goodrich, Dollar Thrifty‘s sale to Hertz (HTZ.N: Quote) for $1.2 billion and Ingersoll Rand's announced spin-off of its security business.
"With his 25 year career at the firm, Ventresca exemplifies a strong leader and partner through his proactive client work and employee mentoring," said the memo.
Cristerna has worked on numerous sizeable cross-border transactions, including DE Master Blenders' DEMB.AS $9.8 billion spin-off from Sara Lee, the merger of Iberia and British Airways and Inbev's (ABI.BR: Quote) acquisition of Anheuser Busch for $52 billion in 2008.
"In his nearly 20 years with JP Morgan, Hernan has helped develop our global footprint with a range of relationships and leadership positions, notably in the consumer, retail and healthcare sectors," the memo said.
(Editing by Kylie MacLellan and David Holmes)
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