JPMorgan Chase's Senior Deal Maker James Elliott To Retire In June: Report

(RTTNews) - JPMorgan Chase & Co's (JPM) global chairman of investment banking James Elliott planned to retire in June, the New York Times reported, citing the memo from Jeff Urwin, a co-head of global banking at the firm.

Urwin wrote that Elliott immediately stood out as a dedicated leader, partner and true client advocate, the report stated citing the memo. A spokeswoman for JPMorgan confirmed the contents of the memo.

Elliott, who has worked on several prominent deals during his 35-year career, had a lead role in Exxon's $86 billion merger with Mobil and was also involved in Sanofi's (SNY) $21 billion acquisition of Genzyme.

James Elliott, III, also known as Jimmy, began his career at the First Boston Corporation in 1976 and spent ten years in the Mergers and Acquisitions department specializing in energy sector takeovers, joined JPMorgan in 1997 as a senior member of the mergers and acquisitions department.

He was appointed Head of Risk Arbitrage Department in 1986 and managed a $500 million portfolio until his departure in 1989. In 1990, Mr. Elliott started and managed a hedge fund, which invested in M&A Risk Arbitrage and Special Situations.