NEWSMAKER-NBC deal seals JPMorgan banker's reputation

* Financing guru comes to fore amid recession dealmaking

* Credited with inventing loan syndication

* Called focused, driven, but polarizing

By Elinor Comlay

NEW YORK, Dec 4 (Reuters) - JPMorgan Chase & Co (JPM.N) veteran rainmaker James Lee this week cemented his status as a go-to man, particularly for complex deals at a time of lingering recession.

As the banker behind Comcast Corp's (CMCSA.O) acquisition of NBC Universal from General Electric Co. (GE.N), Lee, 57, managed to shepherd through delicate negotiations that nearly collapsed several times along the way.

Lee, widely credited with inventing the major loan risk-sharing business known as syndication, has a head for pulling off tricky financing. At JPMorgan, he also has the backing of the second-largest balance sheet on Wall Street.

The Comcast deal culminated negotiations that began months ago, involved difficult talks with Vivendi SA (VIV.PA) over its stake in NBC Universal, a complicated joint venture structure and provisions allowing GE to exit over time.

Lee and JPMorgan also worked on GMAC's restructuring of mortgage firm ResCap and satellite radio company Sirius' acquisition of rival XM Satellite Radio in 2008. Before that, Lee was behind News Corp's purchase of Dow Jones.

"This is not somebody that clients turn to to get just an M&A transaction done, they turn to him to put the financing package together to get it done," said a former investment banker who worked for a rival firm and asked not to be named.

Beyond Lee's credit smarts and a tenacious dedication to completing deals -- a 2000 Forbes article said he would talk on two cell phones at once and carry spare batteries to prevent getting cut off -- he has the advantage of working at JPMorgan.

At the end of September, the bank topped rankings for debt and equity underwriting and, scored the most in fees worldwide M&A, according to Thomson Reuters data.

JPMorgan, which acquired investment bank Bear Stearns Cos and the assets of failed Seattle thrift Washington Mutual during the financial crisis, is seen as one of the strongest survivors of the last two years' carnage on Wall Street.

"JPMorgan is a shortlist lender in every major deal now ... it's a great setup for him in an environment like this," said the former investment banker.

JPMorgan declined comment and Lee was not available for comment.

POLARIZING

Along with his reputation for being a savvy and persistent negotiator, Lee is seen by some as brash and even abrasive. He is something of a polarizing character -- but perhaps that is inevitable in someone who has survived more than three decades on Wall Street, starting with Chemical Bank, a predecessor of JPMorgan Chase.

Former employees and clients have praised his loyalty to them, as well as his drive to complete deals.

"When Jimmy gives his word, the deal is done," said Robert Tillis, CEO of Inner Circle Sports, a merchant bank in New York focused on the sports industry, who worked for Lee for 10 years and who described him as focused, driven and "affable."

Not everyone is such a fan, however. One banker, who asked not to be identified, said Lee leaves many feeling intimidated.

"He's a master of the universe, a 'Bonfire of the Vanities' kind of guy," the banker said of Lee.

Lee's contacts, experience and the backing of JPMorgan, inevitably put him in a position of power.

"For several decades, he's known how to get a deal done ... He's in the right job," said the former investment banker. (Additional reporting by Ben Klayman; Editing by Steve Orlofsky) ((elinor.comlay@thomsonreuters.com; +1 646 223 6116))