As hedge fund activism surges across global markets, JPMorgan Chase is significantly expanding its shareholder engagement and activism defence capabilities, with the firm adding two MDs to its global shareholder engagement and M&A capital markets group, according to a report by Reuters.
The report cites an internal memo as revealing that the two additions are Duncan Herrington from Jasper Street Partners and Lyndon Park from ICR Shareholder Advisory. Brian Frank, a longtime JPMorgan executive with deep ties to event-driven trading and capital markets, is also joining the unit, which
Has recently defended Walt Disney from Nelson Peltz’s Trian Fund, assisted BlackRock against Saba Capital’s challenge to its closed-end funds, and helped Matthews International repel a board challenge from Barington Capital Group.
JPMorgan’s move reflects the sharp increase in activist campaigns: last year saw a record number of activist entries, with 45 investors launching campaigns for the first time, according to data from Barclays.
For hedge funds, JPMorgan’s growing team represents both a formidable gatekeeper and a potential tactical partner—particularly in complex proxy fights and event-driven situations. The trend also reflects how activism defence, once seen as a niche advisory service, has become big business. With top-tier banks like Goldman Sachs and Bank of America also aggressively bolstering their own activist advisory arms, the competition for corporate mandates has never been fiercer.
