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JPMorgan Hires Guggenheim Executive to Boost Mid-Cap Tech Investment Banking

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JPMorgan Chase is bolstering its technology investment banking division with the addition of Mike Amez, a senior executive from Guggenheim Securities, according to an internal staff memo reviewed by Reuters. Amez is set to join the bank in September as Head of Mid-Cap Technology Services, based in Chicago.

In the memo, Global Co-Heads of Technology Investment Banking Chris Grose and Greg Mendelson said Amez brings a deep background in IT services, cybersecurity, and cloud infrastructure, with a career focused on building enduring client relationships in the fast-evolving tech landscape. At Guggenheim, he was a Senior Managing Director in its tech investment banking group.

Amez’s appointment is part of JPMorgan’s ongoing expansion of its technology banking franchise, especially targeting medium-sized tech companies, a fast-growing market segment. The hire comes just weeks after the bank added four senior executives from Goldman Sachs, Bank of America, and Lazard to strengthen its West Coast tech banking operations.

Already a dominant force in technology dealmaking, JPMorgan is sharpening its sub-sector expertise to maintain its lead, according to Dealogic data. The bank has recently played a central advisory role in high-profile transactions, including:

  • Global Payments’ $24.25 billion acquisition of Worldpay,

  • Turn/River’s $4.4 billion buyout of SolarWinds,

  • DoorDash’s $3.9 billion takeover of Deliveroo,

  • And CoreWeave’s $23 billion public listing in March.

JPMorgan’s continued investment in specialized talent suggests a clear strategy to deepen market penetration in niche but fast-growing tech verticals, especially as deal activity rebounds in select sectors like AI, cloud, and fintech.

Accenture Reports Drop in Bookings Despite Strong Revenue, Launches AI-Focused Business Unit

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Accenture (ACN.N) reported a second consecutive decline in new bookings for the quarter on Friday, overshadowing its better-than-expected revenue results and a raised annual forecast. The consulting and IT firm is facing headwinds from reduced U.S. government spending and broader economic uncertainty, which have led to cautious client budgets and slower contract growth.

The company’s bookings—contracts secured for future revenue—fell 6% to $19.7 billion in the third quarter, missing analyst expectations of $21.54 billion and worsening from a 3% decline in the previous quarter. The number of clients with bookings exceeding $100 million dropped slightly to 30 from 32, while bookings related to generative AI reached approximately $1.5 billion.

Accenture’s CFO Angie Park highlighted that slower U.S. government spending will reduce fiscal fourth-quarter and annual revenue by around 2%, following only a minor impact in the prior quarter. Analyst Dan Coatsworth from AJ Bell noted that while earnings grew, investors are focused on future challenges, especially amid ongoing government budget cuts and contract delays.

In response, Accenture unveiled an organizational revamp to strengthen its AI consulting capabilities by creating a new business unit called Reinvention Services. This unit, led by Manish Sharma, head of Accenture’s Americas business, will consolidate the company’s AI offerings to better serve client needs amid the evolving market.

For the quarter, Accenture posted revenue of $17.7 billion, beating estimates of $17.3 billion, driven mainly by increased spending from financial services clients. Earnings per share of $3.49 also exceeded expectations of $3.32. The company raised its annual revenue growth forecast to between 6% and 7%, up from a previous estimate of 5% to 7%.

Wise Shifts Primary Listing to U.S., Delivering Fresh Blow to London’s Financial Market

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Money transfer company Wise announced Thursday that it plans to move its primary stock market listing from London to the United States, marking another significant setback for London’s efforts to maintain its position as a leading global financial center. The company’s shares surged more than 8% following the announcement, bringing its market capitalization to over £12 billion ($16.28 billion).

Wise, which first listed in London in 2021, had signaled in April that it was exploring its listing options, but the decision to move to the U.S. surprised many analysts. The shift underscores the growing appeal of American capital markets for global companies seeking higher valuations, deeper liquidity, and broader investor access.

CEO and co-founder Kristo Kaarmann cited the depth and liquidity of U.S. markets as the primary reasons for the move. “The U.S. has the world’s deepest and most liquid capital markets, which will make it easier for investors globally to buy shares in Wise,” Kaarmann said.

Despite the relocation, Wise plans to maintain a secondary listing in London, signaling continued ties to its home market where roughly 20% of its staff and most of its executive team remain based.

Another Blow to London’s IPO Ambitions

Wise’s departure is the latest in a string of high-profile companies abandoning or bypassing London in favor of other markets. In recent months:

  • Unilever selected Amsterdam over London or New York for its ice cream division’s primary listing.

  • Shein, the Singapore-based fast-fashion giant, is reportedly leaning towards a Hong Kong IPO after regulatory challenges for a London listing.

  • Cobalt Holdings, a metals investor backed by Glencore, scrapped its London IPO plans entirely this week.

These developments highlight the ongoing difficulties London faces in attracting and retaining major listings, despite recent reforms aimed at modernizing and liberalizing its capital markets to compete with global peers.

London Reforms Not Enough

Kaarmann emphasized that the U.K. government has made meaningful efforts to modernize its capital market regulations, aligning them more closely with U.S. standards. However, he acknowledged that companies ultimately need to follow the global flow of capital.

“The government has definitely made an effort… but we have to accept the reality of where the world’s capital is concentrated,” he said.

A Wise spokesperson declined to say whether other international listing venues were considered.

Solid Financial Performance

Alongside the listing news, Wise reported strong annual earnings. Underlying pretax profit rose 17% to £282.1 million for the year ending March 31, 2025. Shares of the company are up nearly 40% over the past year, though they remain below their 2021 IPO levels.

Wise’s British competitor, Revolut, which offers similar financial services, has also been expanding aggressively in the U.S., underlining the growing importance of American markets to European fintech companies.