JPMorgan Beefs Up Tech Team as it Eyes New Sector Deals

U.S. banking giant JPMorgan (JPM) gave a huge vote of confidence to the tech sector today by hiring four experts in the sector to power a raft of new deals.

Despite this, however, the stock was flat in early trading.

Tech Faith

JPMorgan, according to a report on Reuters, has hired four new faces. Notably, Mark Garcia is joining as global head of semiconductors from Bank of America (BAC) and Peter Duda is leaving Lazard (LAZ) to be managing director supporting software. Eric Quanbeck and Brett Miller are leaving Goldman Sachs (GS) to cover applied technology and enterprise and cloud respectively.

These moves are notable not just because they might weaken its rivals but because of the faith JPMorgan is putting in the resilience of the tech sector in the face of challenges such as Trump’s tariffs and Chinese competition, particularly in AI.

“Serving the technology sector is a top priority for our firm, and we’re consistently investing in the best talent across the industry to deliver more value to our clients,” global co-heads of technology investment banking Chris Grose and Greg Mendelson said in a memo seen by Reuters.

Driving Force

They added that technology powers many sectors and has long been a driving force behind global innovation, advancement and connectivity.

JPM has already played a significant hand in some huge tech sector deals. This includes advising Global Payments (GPN) on its $24.25 billion acquisition of payment processor Worldpay and Turn/River on its $4.4 billion take-private deal of IT management software maker SolarWinds.

It has also been involved in DoorDash’s ($DASH) $3.9 billion acquisition of the restaurant delivery platform Deliveroo. It additionally helped CoreWeave (CRWV) with its $23 billion stock debut in March.

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