John Coyle switches over to Permira

John Coyle, the global head of JPMorgan Chase & Co's financial sponsor group, has joined Permira.

Coyle will be co-head of the Europe-based firm's New York office together with Tom Lister.

"We are thrilled to bring a person of John's calibre to Permira and simultaneously strengthen and deepen the Permira team in North America," Lister said in a statement.

A JPMorgan spokeswoman declined to comment.

In an earlier report, Coyle was quoted as saying that his departure from JPMorgan had no connection to the financial slowdown.

Permira is an international private equity firm based in the United Kingdom, headed by Damon Buffini. According to Permira, its name is Latin for "very surprising, very different".

The firm acts as adviser to the nineteen Permira Funds, which in total are worth approximately 22 billion euros. These funds have invested in over 180 transactions in 15 different countries, and date as far back as 1985.