JPMorgan promotes Porretti, Novak to co-head shareholder engagement as more activist campaigns loom

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JPMorgan promotes Porretti, Novak to co-head shareholder engagement as more activist campaigns loom
David FreedmanDarren NovakActivist Investors
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JPMorgan Chase on Tuesday tapped veteran bankers Alfredo Porretti and Darren Novak to co-head its global shareholder engagement and M&A capital markets group...

NEW YORK - JPMorgan Chase on Tuesday tapped veteran bankers Alfredo Porretti and Darren Novak to co-head its global shareholder engagement and M&A capital markets group at a time corporations are increasingly looking for help to defend against activist investors pushing for changes.

In the last months, JPMorgan defended Walt Disney, defeating Nelson Peltz's Trian Fund Management when the hedge fund pushed for a second time for board seats earlier this year. Over the last years, the group has surged in league table rankings that count banks' mandates. In 2023 JPMorgan ranked in the No.2 spot behind Goldman Sachs, up from the No. 8 spot where it ranked in 2020, according to LSEG data.

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David Freedman Darren Novak Activist Investors Alfredo Porretti Porretti

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