Tech

Public capital markets returning to normal, says JP Morgan head

British semiconductor firm Arm’s $4.9bn IPO is a positive sign of the re-opening of capital markets, says Mary Callahan Erdoes

Mary Callahan Erdoes, chief executive of asset management, JP Morgan. ‘We’re really excited about capital markets opening up again. It’s sort of like a muscle that you didn’t work out during the summer’

British semiconductor company Arm’s $4.9 billion IPO last week and the surge in its shares since is a sign that public capital markets are returning to prominence, the head of JP Morgan’s asset management has said.

Mary Callahan Erdoes, chief executive of the US investment bank’s asset and wealth management division, said the chip designer’s public debut was a “harbinger” of a return to normal following a barren year for stock market IPOs. JP Morgan ...