JPMorgan has announced the leadership team for the tax-exempt capital markets division that will combine the municipal businesses of both JPMorgan and Bear, Stearns & Co.
Mark Melio will head the TECM investment banking unit, which will include the capital markets function, while Bryan Weadock will manage North America fixed income sales, and Jeff Bosland and Hugh Nickola will co-head the sales, trading, and syndicate desks, including municipal derivatives and credit analysis.
The announcement was made this morning in an internal memo sent to JPMorgan and Bear Stearns investment bank employees by Matt Zames, head of tax-exempt capital markets/municipals, global rates, and currencies. The managers, who all come from JPMorgan, will report to Zames.
“The integration of JPMorgan’s and Bear Stearns’ Tax-Exempt Capital Markets/Municipals businesses creates a winning combination that will enable us to capitalize on revenue and market share opportunities,” Zames wrote in the memo.
In addition, Lou Schioppo will be the chief financial officer for the group, according to the memo.
Melio was named the sole head of JPMorgan’s municipal group in February of this year. Prior to that he had been co-head alongside Gene Saffold, managing the health care, housing, and cultural group. He joined JPMorgan in 1997 after a decade at Goldman, Sachs & Co.
Zames said further organizational announcements will be made in recent weeks. It is not known how large the tax-exempt group will be once the JPMorgan and Bear employees are integrated.
