JPMorgan Chase has appointed Will Boyle, most recently at Morgan Stanley, to lead its global secondary advisory team in New York, the firm said. Boyle will report directly to Keith Canton, JPMorgan's global head of private capital advisory and solutions.
In his new role as global head of secondary advisory, Boyle will collaborate with the bank's strategic investors group and mergers and acquisitions team to provide advice to financial sponsors and institutional investors on private market transactions. That remit includes structuring secondary sales and continuation vehicles.
The decision to bring Boyle on board is aimed at capturing what Canton identified as a roughly $100 billion segment of the market where sponsors arrange transactions that give investors liquidity alternatives beyond typical sales or initial public offerings. Canton characterized that segment as the general partner-led portion of the private placement secondary market.
"The private placement secondary market is $200 billion to $225 billion in size, with the general partner-led portion close to $100 billion, and that’s what we’re targeting," Canton said, outlining the scale of the opportunity the bank intends to pursue.
JPMorgan said Boyle will integrate into an existing platform of more than 40 professionals globally who focus on private capital markets. Canton also provided context on the broader capital markets environment, saying he expects the IPO market to reach $60 billion in 2026, excluding any widely discussed mega IPOs, and that sponsor-backed IPOs would account for roughly one third of that activity.
"We’re having a number of conversations with investors who are looking to provide solutions to sponsors who may need to think creatively about a partial or potential full exit from their portfolio companies," Canton added, describing the dialogues the bank is holding with market participants.
Boyle spent almost five years at Morgan Stanley, where he most recently served as the bank's global head of private capital advisory. His professional history also includes positions at PJT Partners and GSO Capital Partners, according to his LinkedIn profile.
Context and implications
The hire formalizes JPMorgan's focus on secondary advisory work within private capital markets, aligning advisory, strategic investor and M&A capabilities to serve sponsors and institutional clients seeking liquidity or portfolio management alternatives. The bank is concentrating on a segment Canton sees as a meaningful part of private placement activity.