By Sophie Sassard
LONDON May 16 JP Morgan has appointed
Hernan Cristerna and Chris Ventresca to the newly created roles
of co-heads of global mergers and acquisitions (M&A), according
to a memo seen by Reuters.
Cristerna, 48, was previously head of M&A for Europe, Middle
East and Africa, while Ventresca, 46, was head of M&A for North
America. They will report to Jeff Urwin, global head of
A spokeswoman for the bank confirmed the contents of the
JP Morgan ranks second behind Bank of America Merrill Lynch
on worldwide M&A advisory with $161.5 billion of
announced deals since the beginning of the year according to
Thomson Reuters data.
The investment bank has advised on some of the most
significant transactions of the year, including the $28 billion
acquisition of Heinz by 3G Capital and Berkshire Hathaway Inc
, Virgin Media Inc's $23.3 billion merger with
Liberty Global Inc and General Electric Co's
$18.1 billion sale of NBCUniversal to Comcast Corp.
Most recently, Ventresca led Virgin Media's Liberty Global
deal, as well as United Technologies Corp's $16.5
billion acquisition of Goodrich, Dollar Thrifty's sale to Hertz
for $1.2 billion and Ingersoll Rand's announced spin-off
of its security business.
"With his 25 year career at the firm, Ventresca exemplifies
a strong leader and partner through his proactive client work
and employee mentoring," said the memo.
Cristerna has worked on numerous sizeable cross-border
transactions, including DE Master Blenders' $9.8
billion spin-off from Sara Lee, the merger of Iberia and British
Airways and Inbev's acquisition of Anheuser Busch for
$52 billion in 2008.
"In his nearly 20 years with JP Morgan, Hernan has helped
develop our global footprint with a range of relationships and
leadership positions, notably in the consumer, retail and
healthcare sectors," the memo said.