(Bloomberg) -- JPMorgan Chase & Co. has hired Alok Matapurkar from Bank of America Corp. to join its technology investment banking group, according to a memo viewed by Bloomberg News. 

Matapurkar, a managing director, will be based in New York and focus on advising companies in the technology services sector. He will report to Madhu Namburi, the head of the group, and work closely with Greg Mendelson, who leads East Coast tech banking and fintech.

Tech bankers have been in demand as deals in the space have been on a tear this year, spurred by strategics and private equity firms looking to spend their cash. 

A spokeswoman for JPMorgan Chase confirmed the memo was accurate. A Bank of America spokesperson declined to comment. 

Matapurkar has advised on mergers and capital markets deals for companies including Wipro Ltd., Synnex Corp., DXC Technology Co. and TransUnion.  

Other Promotions

The bank also announced it had promoted Tim Carpenter in Boston and Matt Seiter in San Francisco to be co-heads of the enterprise and cloud sector.

The duo will work closely with bankers including Eric Prengel, Stephanie Ruiz, a former industrials banker who was hired from Credit Suisse Group AG, and Andrew Dahle, who rejoined from Bank of America earlier this year. 

Prengel will also become head of West Coast technology investment banking, a role that involves recruiting and internal people development, the memo said. 

The bank just lost Brian Truesdale, a Boston-based technology banker, to Citigroup Inc. earlier this month.

Mark Iantosca in New York will shift his focus from applied technology to enterprise and cloud. He had formerly been in the diversified industrials team, the memo said.

“We are fortunate to have such strong senior talent and the ability to provide expanded leadership opportunities,” Namburi said in the memo. 

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