JPMorgan (JPM.US) reorganizes its equity capital markets team: appoints new head for Australia and Southeast Asia.

JPMorgan (JPM.US) is making changes to its Equity Capital Markets (ECM) leadership, replacing its head of ECM in Australia and appointing a new Southeast Asia head, according to a memo sent to employees on Friday from the bank. It has hired Justin Grimmond, who spent the past decade as head of ECM in Sydney for the Royal Bank of Canada. He will start in June.

Grimmond will replace Jonas Troeber, who plans to move to Hong Kong later this year to help lead the Asia-Pacific ECM team, according to a memo signed by Sunil Dhupelia and Peihao Huang, co-heads of ECM in Asia-Pacific, and Niccolo Manno, head of the Asia-Pacific ECM syndicate.

The bank also hired David Cameron-Smail, who will join in June as Southeast Asia ECM head based in Singapore, according to the report. Cameron-Smail comes from UBS, where he was head of ECM for Southeast Asia and India.

A spokesperson for JPMorgan confirmed the contents of the memo.

The bank also told employees that Peter Meletis will move from his current role in the Australian equity sales team to the Asia-Pacific ECM team that covers Australia. He will report to Troeber starting in early May.

Data compiled by Bloomberg showed that equity and share placements in Australia and New Zealand grew 22% in 2024, with companies raising $17.4bn through equity and share placements, up from $14.3bn in 2023.