JPMorgan merges commercial banking groups for start-ups
JPMorgan Chase & Co said on Monday it is combining its middle-market technology and emerging growth commercial banking teams to better position the bank to handle start-ups that rapidly grow to be big companies.
The technology and disruptive commerce industry group will be lead by James Millar and Alton McDowell and will focus on promising start-ups that specialize in software, semiconductors, food, health and wellness, lifestyle and pet products.
Dozens of young businesses in these consumer and service segments have become overnight successes in the last decade.
JPMorgan, the largest US bank by assets, will use this group to sell these small to mid-market companies everything from handling their treasury, payments, credit and financing, to mergers and acquisitions advice.
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