JPMorgan has added two seasoned technology bankers from Bank of America to its ranks as it continues to scale its technology investment banking franchise, according to an internal memo circulated by the bank's technology leadership.
Per the memo from Global Co-Heads of Technology Investment Banking Greg Mendelson and Chris Grose, Kaushik Banerjee and Homan Milani will join JPMorgan as managing directors, each bringing focused industry expertise. Banerjee joins to continue work supporting semiconductor and electronics clients, while Milani will take on a role as co-head of JPMorgan's AI effort.
BofA declined to comment on the hires.
Experience and deal track records
Banerjee most recently served as the global head of semiconductor investment banking and electronics at Bank of America and spent four years with the firm. In that period he advised on a string of significant semiconductor transactions, including:
- ASML's $1.4 billion investment in Mistral AI
- IonQ's $1.8 billion acquisition of Skywater
- the $8.2 billion sale of National Instruments to Emerson
- the $1.45 billion sale of EA Elektro-Automatik to Fortive
- the $339 million sale of Transphorm to Renesas
- the $600 million sale of AMI to THL Partners
- Bain's acquisition of Somacis for an undisclosed amount
While at Bank of America, Banerjee also advised on several complex semiconductor capital and restructuring matters, including the restructuring of Renesas' $2.1 billion investment in Wolfspeed, Intel's approximately $400 million minority sale of IMS, and the $1 billion minority investment in Coherent's silicon carbide semiconductor business.
Milani, who led Americas internet investment banking at Bank of America, has been involved in M&A advisory and financing transactions across a range of internet and consumer technology names. The memo lists his work on deals for DoorDash, Unity Software, Lyft Inc, Zillow Group, RealReal Inc, Match Group, Grindr, Pinterest Inc, Affirm Holdings, SoFi Technologies, Opendoor Technologies, and Snap Inc.
Internal moves and broader strategy
The memo also notes an internal promotion: Riaz Ladhabhoy, a managing director within JPMorgan's technology group, has been appointed as a vice chair with a focus on supporting the bank's global semiconductors practice.
These personnel changes are part of a sustained push by JPMorgan to grow its technology investment banking and M&A capabilities. The bank has intensified hiring in recent years, bringing on roughly a dozen senior technology bankers last year. JPMorgan emerged at the top of the league tables for fees from U.S. and global technology transactions signed in the first quarter, according to Dealogic data cited in the memo.
Taken together, the hires and internal realignments underscore JPMorgan's continued investment in sector-specific coverage for semiconductors, internet companies, and AI-related advisory work.