JPMorgan has hired Jeff Yingling as a managing director within the energy and midwest investment banking group. JPMorgan joins an increasing number of banks trying to take advantage of strong commodities markets by expanding their presence in related sectors.
Yingling comes to JPMorgan after 16 years at Morgan Stanley, where he was most recently a managing director in the power group focusing on midwestern utility and gas companies.
He is currently on gardening leave from Morgan Stanley and will begin his appointment in October, according to a memo seen by Financial News.
Yingling will be based in Chicago, and report to Doug Petno, head of energy investment banking.
Over the past two months, Bear Stearns hired Dan Rubenstein for energy and power as a senior managing director in its strategic finance group; Citigroup hired former Lehman Brothers executive Chris Miller as a managing director and head of upstream energy in investment banking; Deutsche Bank hired Christopher Plante, former trader with energy company Constellation Energy; and Banc of America Securities appointed Credit Suisse bankers Rome Arnold and Douglas Reynolds to its energy and natural resources groups.