Macquarie directors expected to follow former boss to JPMorgan after resigning from Aussie bank

JPMorgan hired Dragi Ristevski earlier this year and his former team members at Macqaurie are expected to follow him out the door. Picture: Michael M. Santiago/Getty Images

Macquarie Capital directors Tom Gibson and Alex Brown have resigned from the investment bank with expectations mounting they will be following their former private equity boss to JPMorgan.

Dragi Ristevski resigned as Macqaurie’s private equity head and is set to take up the job at rival bank JPMorgan as its co-head of general industrials and head of financial sponsors for Australia and New Zealand.

The pair both followed Mr Ristevski from Credit Suisse when he left to join Macquarie in 2023 following the closure of the Swiss financial institution, and at Macquarie, they reported to him as they did at Credit Suisse.

Mr Ristevski also worked at Citi covering general industrials and financial sponsors.

He will be based in Sydney, reporting to JPMorgan’s Australia and New Zealand head of investment banking Julian Peck.

He will work alongside Seth Schwartz, co-head of general industrials in Melbourne, to spearhead the bank’s industrials coverage and expand the business.

Both Mr Gibson and Mr Brown are associate directors at Macquarie.

The changes come as Citi this year hired Philippe Perzi, the head of the Financial Institutions Group for Australia and New Zealand at Goldman Sachs, as co-head of its investment banking for Australia and New Zealand with Ben Connolly.

The pair replace the bank’s chair of Corporate and Investment Banking for Australia and New Zealand, Tony Osmond, who will retire later this year.