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West Coast Tech Bankers Split from JPMorgan

NEW YORK, May 2 (Reuters) – JPMorgan Chase & Co. lost two West Coast technology investment bankers to competing firms last week, according to a source familiar with the matter.

Mark Solomons, a managing director who was responsible for technology mergers and acquisitions at JPMorgan, will be joining Morgan Stanley’s technology group in Menlo Park, California, the source said.

Akhil Ahuja, who is based in San Francisco and who was covering storage software companies for JPMorgan, will be joining Wells Fargo Corp’s technology investment banking group.

Ahuja will report into Gerry Walters, head of West Coast Technology at Wells Fargo, and Jon Weiss, who co-leads the investment banking and capital markets team at Wells Fargo. Both Walters and Weiss were formerly at JPMorgan.

As recruiting season heats up, a number of technology bankers have been jumping ship to join competing firms or boutique banks.

Wells Fargo has looked to ramp up its technology offering over the last few years due to increased sector consolidation, the source said.

Morgan Stanley is currently No. 1 in the league tables for technology M&A deals, according to Thomson Reuters data.

Morgan Stanley declined to comment. JPMorgan and Wells Fargo officials were not available for comment.

(Reporting by Nadia Damouni; editing by John Wallace)