JP Morgan has created a single global infrastructure team spanning finance and advisory and hired two managing directors from Royal Bank of Scotland in key roles, in an effort to capitalise on the rise in investor appetite for infrastructure projects among pension and wealth funds and other non-bank investors.

Daniel Zelikow, the global head of JP Morgan's public sector group, and Huw Richards, the bank's co-head of investment-grade finance, will co-run the new group, which will be a joint effort between JP Morgan's banking and markets divisions, according to a memo sent to staff on October 27 by Carlos Hernandez, global head of banking.