Greater Washington

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Investment and insurance products are:

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J.P. Morgan is not responsible for information provided by guest speakers (unaffiliated with J.P. Morgan) or the use by attendees of such information. J.P. Morgan cannot verify the accuracy of guest speaker content, views of statements, and accepts no responsibility for any direct or consequential losses arising from its use. Any discussion of companies (and/or) markets by guest speakers should not be interpreted as a recommendation to buy or sell or is an endorsement by J.P. Morgan.

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J.P.Morgan.

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Government Contracting 2020.

A virtual symposium on government contracting, bringing you industry leaders and spotlighting their global impact.

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A man with short brown hair and a blue blazer, Don Irwin, speaks to us remotely.

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Don Irwin, Government Contracting Team Leader, J.P. Morgan Private Bank.

Don:

I am proud of our firm’s continuing efforts to invest in our clients. Providing best-in-class advice, execution and access to thought leadership. And nowhere is this more pronounced than our commitment to the government contracting industry.

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Market Insights.

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A dark-haired man with glasses, Mark Marengo, speaks remotely.

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Mark Marengo, Managing Director, Global Head of J.P. Morgan's Aerospace Defense and Government Services.

Mark:

When you look at the underlying fundamentals in defense, in government services, the near-term outlook remains incredibly attractive. And to put that into context, they imply low- to mid-single digit growth for 2020 and 2021.

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Mark:

A recent deal that was announced, which, um, I think will serve as certainly a green shoot for—for more activity to come.

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A brown-eyed man with short hair and a blue blazer, Michael Lustbader, speaks remotely.

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Michael Lustbader, Managing Partner Arlington Capital Partners.

Michael:

I do think that there’ll be a ramp-up again in the fourth quarter, uh, when, uh, the—there’s an increased focus on some of the tax considerations of the potential change in administration. And if you wait until after the election, it probably is too late at that point to try and get something done.

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Market Trends.

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A woman with long brown hair, Jennifer Clark, speaks remotely.

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Jennifer Clark, Executive Director Syndicated Finance, J.P.Morgan.

Jennifer:

Despite all the dislocation that we’re seeing across the bank market, one of the bright spots has actually been the government contracting space. We’ve executed a handful of deals since March in the government contracting space, and they’ve been well received by the market. First of all, there is a limited impact of COVID to many of the government contractors that we’ve worked with, as well as there’s also good revenue visibility. Furthermore, we’ve also seen strong cash flow generation in the space, and with the limited CAPEX and other calls on cash, it’s very easy for a lender to get comfortable with that profile.

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Ruth Ann Clark, Market Executive, J.P. Morgan's Aerospace Defense and Government Services Middle Market Banking Specialized Industries, J.P. Morgan Commercial Banking.

Ruth:

On behalf of all my colleagues in the Private Bank, the Investment Bank and the Commercial Bank, we hope you found the comments and the interviews to be insightful and timely. Thank you very much.

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