Ex-Morgan Stanley banker to join JPMorgan’s commercial group

(Reuters) – JPMorgan Chase & Co said on Tuesday it had hired Travis Machen to head its financial institutions group within commercial banking.

Machen was previously the co-head of North American banks coverage within Morgan Stanley’s investment banking division.

In his new role at JPMorgan, Machen will work with banks, hedge funds, asset managers and insurance companies with assets from $50 million to $25 billion. The team works closely with the investment banking group’s financial institutions group and manages over $40 billion in deposits.

(Reporting by Olivia Oran)