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JPMorgan (JPM) to Cater to IE Clients Globally, Hires Co-Heads
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JPMorgan Chase & Co. (JPM - Free Report) is expanding globally to collaborate relationships with Innovation Economy (IE) clients. In sync with this, the company hired senior co-heads, who would be a part of the company’s IE commercial banking (CB) division.
Since 2016, JPM's CB division has successfully managed IE business and now expanding its presence throughout the U.K., Ireland, Nordics, Germany, Australia, Israel and China to cater services to IE clients across major industries. Thus, JPMorgan’s expansion into this lucrative and critical sector will help deepen its client relationships.
John China will be taking the position as co-head of IE for Commercial Banking with Melissa Smith continuing her dual role as co-head of IE and Head of Specialized Industries for CB. They will lead a team with more than 350 bankers, offering financial and advisory services to more than 6,000 IE companies around the globe.
Melissa Smith, co-head of IE and Head of Specialized Industries for CB, stated, "Recent market events have only strengthened our commitment to provide the bespoke services and solutions that founders, startups and investors need to thrive."
John China, co-head of IE for CB, said, "JPMorgan’s ability to serve clients throughout every stage of their life cycle is a true differentiator in the marketplace. As companies scale and grow more sophisticated, their banking needs can quickly turn complex."
The global capabilities and substantial investments of JPMorgan to support companies are driven by its comprehensive, firmwide approach. The services it offers to companies include capital raising and financing, liquidity solutions and strategic advisory for portfolio companies, fund financing for Venture Capital (VC) firms and a full suite of private banking and wealth management solutions, personally catering to VC partners and founders.
JPMorgan continues to invest in its people, resources and capabilities to offer services for the IE ecosystem.
JPMorgan formed a separate IE Startup Banking business, which will cater to early-stage companies. Further, to offer deep industry expertise, it expanded the ClimateTech team and created a specialized Sponsor ARR financing team that will support existing venture debt capabilities.
Apart from these, JPM has simplified digital banking and bundled payments with it. With analytics powered by Aumni, the company is providing digital capital raising and networking through its Capital Connect platform. Further, through the JPMorgan Markets platform, IE clients can assess world-class research and industry insights, while Global Shares provide cloud-based share plan management.
Additionally, the acquisition of First Republic Bank has further bolstered JPMorgan's IE growth strategy in lucrative markets like San Francisco and Boston.
Another bank to increase its headcount in Paris post Brexit is Barclays PLC (BCS - Free Report) . The British lender has been planning to hire 200 traders in the French capital. The news was reported by Bloomberg.
Francesco Ceccato, the chief executive of Barclays Europe, said that the bank could generate enough business in Paris. Hence, BCS, which currently employs 300 people in Paris, plans to add 200 more staff by 2025-2026.
Citizens Financial Group, Inc. (CFG - Free Report) has expanded its private banking business with the addition of approximately 50 new senior private bankers and related support staff in Boston, Florida, New York and San Francisco.
The new team will provide personal banking, retirement planning, commercial and business banking, investment management and financial planning, and other services to families, high-net-worth individuals, nonprofits and private family foundations through CFG’s Private Banking practice.
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JPMorgan (JPM) to Cater to IE Clients Globally, Hires Co-Heads
JPMorgan Chase & Co. (JPM - Free Report) is expanding globally to collaborate relationships with Innovation Economy (IE) clients. In sync with this, the company hired senior co-heads, who would be a part of the company’s IE commercial banking (CB) division.
Since 2016, JPM's CB division has successfully managed IE business and now expanding its presence throughout the U.K., Ireland, Nordics, Germany, Australia, Israel and China to cater services to IE clients across major industries. Thus, JPMorgan’s expansion into this lucrative and critical sector will help deepen its client relationships.
John China will be taking the position as co-head of IE for Commercial Banking with Melissa Smith continuing her dual role as co-head of IE and Head of Specialized Industries for CB. They will lead a team with more than 350 bankers, offering financial and advisory services to more than 6,000 IE companies around the globe.
Melissa Smith, co-head of IE and Head of Specialized Industries for CB, stated, "Recent market events have only strengthened our commitment to provide the bespoke services and solutions that founders, startups and investors need to thrive."
John China, co-head of IE for CB, said, "JPMorgan’s ability to serve clients throughout every stage of their life cycle is a true differentiator in the marketplace. As companies scale and grow more sophisticated, their banking needs can quickly turn complex."
The global capabilities and substantial investments of JPMorgan to support companies are driven by its comprehensive, firmwide approach. The services it offers to companies include capital raising and financing, liquidity solutions and strategic advisory for portfolio companies, fund financing for Venture Capital (VC) firms and a full suite of private banking and wealth management solutions, personally catering to VC partners and founders.
JPMorgan continues to invest in its people, resources and capabilities to offer services for the IE ecosystem.
JPMorgan formed a separate IE Startup Banking business, which will cater to early-stage companies. Further, to offer deep industry expertise, it expanded the ClimateTech team and created a specialized Sponsor ARR financing team that will support existing venture debt capabilities.
Apart from these, JPM has simplified digital banking and bundled payments with it. With analytics powered by Aumni, the company is providing digital capital raising and networking through its Capital Connect platform. Further, through the JPMorgan Markets platform, IE clients can assess world-class research and industry insights, while Global Shares provide cloud-based share plan management.
Additionally, the acquisition of First Republic Bank has further bolstered JPMorgan's IE growth strategy in lucrative markets like San Francisco and Boston.
Shares of this Zacks Rank #2 (Buy) company have rallied 3.1% in the past six months against the industry’s decline of 11.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Image Source: Zacks Investment Research
Restructuring Activities by Other Banks
Another bank to increase its headcount in Paris post Brexit is Barclays PLC (BCS - Free Report) . The British lender has been planning to hire 200 traders in the French capital. The news was reported by Bloomberg.
Francesco Ceccato, the chief executive of Barclays Europe, said that the bank could generate enough business in Paris. Hence, BCS, which currently employs 300 people in Paris, plans to add 200 more staff by 2025-2026.
Citizens Financial Group, Inc. (CFG - Free Report) has expanded its private banking business with the addition of approximately 50 new senior private bankers and related support staff in Boston, Florida, New York and San Francisco.
The new team will provide personal banking, retirement planning, commercial and business banking, investment management and financial planning, and other services to families, high-net-worth individuals, nonprofits and private family foundations through CFG’s Private Banking practice.