JP Morgan Chase creates a sports-focused investment group
March 20, 2024
Global financial services firm JPMorgan Chase has set up a new sports-focused investment banking team as the Wall Street bank seeks to tap the increasingly attractive industry, as per an internal memo seen by Reuters.
The bank has created a new “sports investment banking coverage group” to offer advisory and financing solutions for activities like investing in sports franchises to clients globally.
“Sports has become an increasingly large asset class, attracting more and more institutional investors,” Fred Turpin, global head of media and communications investment banking, said in the memo.
Eric Menell and Gian Piero Sammartano will co-lead the new investment banking team and report to Turpin. Sammartano will maintain his local reporting line in to Burkhard Koep, the head of Telecoms and Media EMEA.
