Reuters
JPMorgan Chase & Co plans to make further inroads in Germany by targeting more of the medium-sized firms that form the backbone of Europe's largest economy, executives at the U.S. bank said. The move is a challenge to established lenders such as Commerzbank, UniCredit's HypoVereinsbank, and Deutsche Bank, which have dominated a crowded market for so-called Mittelstand companies for decades. JPMorgan, whose European Union hub is in Frankfurt, has become one of the largest advisory banks in Germany in recent years, with an average 14% market share in mergers and acquisitions for German firms from 2016 through 2021, Dealogic data shows, double its share over the previous six years.