JPMorgan Chase has hired prominent M&A banker Amy Lissauer from Bank of America to lead its activism defence practice. Lissauer previously built one of Wall Street's leading defence businesses at Bank of America, advising companies like Norfolk Southern and Southwest Airlines. She will join JPMorgan as global head of shareholder engagement and M&A capital markets.

This strategic hire comes as JPMorgan aims to expand its M&A business and compete more aggressively with rivals, particularly Goldman Sachs. Activism defence is a growing area for investment banks, as advising clients on fending off hedge funds can lead to lucrative M&A mandates. The trend is fueled by volatile markets and an increase in dealmaking, with global activist campaigns reaching a decade-high in the first half of the year.

JPMorgan reported strong investment banking fees of $3.3 billion in the second quarter, partly from advising on SpaceX's listing. Fees from financial advisory, including activism defence, reached $1 billion, marking the third consecutive quarter above this threshold. Despite this growth, JPMorgan continues to trail Goldman Sachs in M&A league tables, prompting a wider reorganisation within its investment bank, including new leadership appointments in investment banking and M&A.