China in auto power play
It might not shake up the industry just yet, but China's interest in Volvo and Saab is the start of something big in global autos, writes columnist Wei Gu. Commentary
JPMorgan's M&A head Dennis Hersch leaves firm
PHILADELPHIA (Reuters) - Investment bank JPMorgan Chase & Co. (JPM.N) said on Monday that Dennis Hersch, global chairman of mergers and acquisitions, left the company.
Hersch plans to work on business and philanthropic issues with Leslie Wexner, the billionaire chairman of clothing chain Limited Brands Inc (LTD.N), a source familiar with the situation said.
JPMorgan said it has not named a replacement for Hersch, who joined the firm in 2005 after a 35-year stint at New York law firm Davis, Polk & Wardell.
Hersch's departure follows the defection of banking head Robert Kindler, who left in 2006 to become Morgan Stanley's (MS.N) vice chairman of investment banking.
JPMorgan ranked as the No. 3 adviser for mergers and acquisitions globally in 2007, according to research firm Dealogic.
(Reporting by Jessica Hall, editing by Dave Zimmerman)
