JPMorgan's global mergers and acquisitions practice hammered out 637 deals in 2021, according to the financial giant.
And the nearly 250 M&A professionals that Anu Aiyengar supervises racked up $4.1 billion in fees last year. That's a 97% year-over-year leap.
"It was a record year for M&A," Anu Aiyengar said.
The deals came in various shapes and sizes. Getty Images, the editorial and stock photography company went public through the purchase of CC Neuberger Principal Holdings, a special purpose acquisition company – one of many SPAC deals engineered by J.P. Morgan bankers.
Another was a merger of equals between Old National Bank and First Midwest Bank, banks that had operated independently since the 19th Century.
And – in a marriage of luxury brands – LMVH Moet Hennessy Louis Vuitton SE purchased Tiffany & Co
The flurry of activity happened in Aiynegar's first full year as global M&A co-head—she was promoted in February 2020—and her 22nd year at JPMorgan.
One of Aiyengar's proudest accomplishments of last year – that deal volume increased without needing to hire more dealmakers – also doubled as a concern.
She said that the fast-moving global markets plus pandemic is a major mental health stressor. With that in mind, she spearheaded a company policy of "flex time." That means 1.5-hour blocks where workers detach from their devices and do whatever they find relaxing.
Aiyengar is also hopeful that a return to collaborative, in-person work will also improve mental health. Returning to the office is, "tremendous morale booster," she said.
Outside of work, Aiyengar is on the Board of Trustees for her alma mater, Smith College. Last year, she was part of a successful effort to change the Northampton, Massachusetts' college needs-based student aid from loans to grants. The move is slated to add $7 million in financial aid at the prestigious, all-women liberal arts college.
