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J.P. Morgan hires from Morgan Stanley for new team head in Singapore

J.P. Morgan has hired Jay Sanghani as head of metals and mining for East Asia. Sanghani joined the US bank’s Singapore office last month from Morgan Stanley, where he had worked as an executive director for three years and nine months, according to his online profile.

His move is likely to be one of the final senior post-bonus hires in Singapore before investment banks slow down their recruitment toward the end of the year.

Sanghani’s former employer, Morgan Stanley, ranked first for Asia Pacific energy and natural resources revenue in the first quarter, according to Dealogic. But Sanghani has now stepped up into a more senior role at a firm that is also a powerhouse within Asian resources banking. J.P. Morgan placed second for Q1 revenue and has taken the top slot in other recent quarters.

Sanghani began his career with a three-year stint in the natural resources team at Merrill Lynch in Australia, starting in 2008. He moved to UBS in Australia in 2011, achieving a significant early-career promotion from senior analyst to associate director in the process.

After reaching director rank at the Swiss bank in February 2014, Sanghani joined Morgan Stanley in November of the same year and relocated to Singapore.

Language barriers and the need for local market knowledge are making it increasingly difficult for investment bankers from Western countries to find work in Singapore and Hong Kong. Australian natural resources specialists are among the exceptions, however, as Australian IBD is focused on the country’s large metals and mining industry, and bankers there typically have connections to Asian companies that are investing in the sector.

Have a confidential story, tip, or comment you’d like to share? Contact: smortlock@efinancialcareers.com

Image credit: grummanaa5, Getty

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AUTHORSimon Mortlock Content Manager

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