JPMorgan Chase has hired two bankers to boost its investment banking capabilities for energy companies, including one which will help the bank focus on coverage of middle-market clients in the sector, per a memo seen by Reuters.
The bank is creating a new vertical within its mid-cap investment banking unit to cover natural resources, with Matt Barrett joining to support and build relationships with companies providing services and equipment in the energy space, the memo said.
Brad Epstein is being hired within JPMorgan’s natural resources investment banking coverage team, with a focus on serving companies in the midstream and downstream sectors.
A spokesperson for JPMorgan confirmed the contents of the memo, which was sent out by Global Co-Heads of Natural Resources Group Investment Banking Jonathan Cox, Jen Dooly and James Janoskey, and John Richert, the head of mid-cap investment banking at the bank.
Both Barrett and Epstein will be based in Houston, and are joining the bank as managing directors.
Barrett previously worked at TPH, the energy-focused investment banking arm of boutique adviser Perella Weinberg Partners, and also spent part of his career at private equity firm White Deer Energy.
Prior to joining JPMorgan, Epstein spent 13 years within Citigroup’s energy investment bank, working with companies in midstream, downstream and refining, and renewable fuels. He has also worked at UBS and Citadel, the memo added.
(Reporting by David French in New York, Editing by Franklin Paul)