London: JPMorgan Chase & Co. has announced a major leadership change in its capital markets division, appointing Sunil Dhupelia as the new head of Equity Capital Markets (ECM) International. The decision, disclosed in an internal memo and confirmed by the bank, highlights JPMorgan’s strategy to consolidate its equity operations under seasoned leadership as competition intensifies in global capital markets.
Dhupelia, who has been serving as co-head of Asia Pacific ECM, will relocate from Hong Kong to London in the coming months to take charge of the international business. His move underscores the importance JPMorgan places on Europe and other non-Asia regions as central hubs for capital-raising activity. By positioning a leader of Dhupelia’s experience in London, the bank aims to strengthen its presence across cross-border equity deals, IPOs, and follow-on offerings.
With Dhupelia’s transition, Peihao Huang, who shared the leadership of Asia Pacific ECM, will assume sole responsibility for the unit. In addition to her new role, Huang will also join JPMorgan’s global ECM operating committee, giving her a seat at the table where worldwide capital markets strategies are shaped. This dual move ensures that Asia retains strong leadership while Dhupelia focuses on broader international opportunities.
Dhupelia brings more than 20 years of ECM experience across diverse markets in the Asia-Pacific region. Since joining JPMorgan in 2022, he has played a pivotal role in guiding equity issuance, advising corporate clients, and fostering institutional investor relations. His ability to navigate regulatory frameworks and his proven track record in capital-raising make him a natural choice to steer JPMorgan’s international ECM platform through evolving global market conditions.
The memo announcing the appointments was issued by Kevin Foley, JPMorgan’s global head of capital markets, and later confirmed by a bank spokesperson. The communication also clarified earlier references, officially naming Dhupelia as the individual taking up the role after some initial misreporting of his name.
This leadership restructuring is seen as part of JPMorgan’s effort to sharpen its edge in a highly competitive equity capital market landscape. By placing Dhupelia in London, the firm signals its intent to balance Asia’s growing importance with the continuing centrality of Europe and other international hubs. Meanwhile, Huang’s elevation consolidates JPMorgan’s Asia ECM leadership, giving the region dedicated strategic focus.
As global equity markets continue to face volatility and shifting investor sentiment, Dhupelia’s appointment will be closely watched. His first moves in London may define how JPMorgan positions itself to capture more cross-border mandates and maintain leadership in one of the most dynamic segments of global finance.