Analysts said that the hiring of Michael Willoughby is a key move for Standard Chartered as the lender is building up its business advising mining companies on potential transactions.
Sunday 19, May 2019
(Bloomberg) --Michael Willoughby, Head of Asia Pacific Metals and Mining Investment Banking at JPMorgan Chase & Co, is joining British lender Standard Chartered.
Willoughby has been appointed Co-Head of Metals and Mining for the region at Standard Chartered and will be based in Singapore, having been with JPMorgan for more than 20 years.
He will be reporting to Global Head of Metals and Mining Richard Horrocks-Taylor, who the bank hired from Royal Bank of Canada last year.
Gold deals are driving activity in the sector this year, including Newmont Mining Corporation’s $10 billion deal for Goldcorp in April, the largest deal in gold mining history as well as Barrick Gold Corporation’s $5.4 billion takeover of Randgold Resources in January.