Ignoring multiple adverse factors, Xiaomo executives are firmly optimistic about the 2026 IPO and M&A market

The Zhitong Finance App learned that despite facing multiple adverse factors in the global economy and geopolitics, a J.P. Morgan Chase executive said that the agency is optimistic about promoting more initial public offerings (IPOs) and transactions this year.

Matthieu Wiltz, co-head of Europe, Middle East and Africa (EMEA) at J.P. Morgan Chase, said in an interview on Tuesday: “The current market sentiment is positive. We see that the reserve projects for the two major business lines of mergers and acquisitions and IPOs are very substantial. Market demand is strong — judging by customer feedback, they are really willing to enter the market and seize current opportunities.”

According to compiled data, J.P. Morgan Chase ranked third among global IPO underwriters last year. Although the market stagnated for a while after the US tariff policy was announced in April last year, the total transaction volume increased 47% throughout the year. The bank has performed particularly well in the field of merger and acquisition financing, and has supported transactions such as the record-breaking takeover of Electronic Arts (EA.US).

Wiltz pointed out that in competition with private equity institutions, J.P. Morgan's strong financing capabilities constitute a core advantage. But at the same time, he stressed that as the market's awareness of risks in the private equity sector continues to deepen, the bank is adopting a more prudent business strategy.

“There is currently excess liquidity in the overall market, so in some transactions, if we determine that there is a loophole in the relevant contract terms, we sometimes choose to directly refuse cooperation,” Wiltz added.

The sudden collapse of the subprime auto lender Tricolor Holdings last year caused losses to many banks, including J.P. Morgan Chase. As a result, the bank's CEO Jamie Dimon warned that other aspects of the private equity credit sector may also reveal problematic loans.

Wiltz said, “Today, more and more co-investors are starting to cooperate with us and some private equity institutions. Previously, we have established a strict due diligence process, and the addition of joint investors requires us to further consolidate our due diligence responsibilities and ensure the scientific nature of every transaction decision.”