JPMorgan brought in a new MD in New York, from Deutsche Bank in London
It’s not always easy to come back to your career after a few years out. Sometimes, however, you end up as a managing director (MD) at JPMorgan in New York, and all is well.
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Matthew Friend will join JPMorgan in New York later this month as a MD in the firm’s technology leveraged finance team. Friend left his last employer, seemingly Deutsche Bank, some years ago when his team was being pushed hard by its bosses. He spent 13 years in total at Deutsche, working first San Francisco and then London.
Friend did not respond to a request for comment, but after leaving Deutsche Bank, we reported that he was looking for a new role in San Francisco. It appears he did not find it.
Tech leveraged finance is a very interesting seat to be in. On one hand, some half a trillion dollars will be spent last year in AI-related debt, Morgan Stanley estimated. On the other, that same boom has caused a massive wave of downgrades for traditional software firms, many of whom now are dealing with higher borrowing costs and tougher scrutiny. Software firms in turn were postponing fundraising efforts. Technology giveth, and technology taketh away.
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