JPMorgan's (JPM) commercial investment bank co-CEO says deal pipelines continuing through the end of 2025 into 2026 looks excellent for M&A

JPMorgan's co-CEO highlights a robust M&A pipeline extending into 2026, which bodes well for the investment banking sector.

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  • Says they have just over USD 12bln and roughly USD 14bln in their balance sheet of direct lending with capacity to reach USD 50bln.
  • Expecting growth from an investment banking pipeline basis on a global basis.
  • Change in capital rules will be beneficial, one of the first places they will deploy excess capital would be in markers and in their banking franchise. 
Context

With significant liquidity and a beneficial shift in capital rules, the bank is positioned to aggressively deploy capital for further growth, potentially boosting equity valuations in the banking sector. This signals confidence in market conditions and may prompt a sector-wide response from competitors regarding their own M&A strategies.

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