J.P. Morgan expands Innovation Economy coverage with key hires from Silicon Valley Bank and Bank of America
J.P. Morgan Commercial Banking today announced the hire of five key executives to support its growing Innovation Economy team within the Middle Market Banking and Specialized Industries (MMBSI) group. Four of the new hires join from Silicon Valley Bank, and one joins from Bank of America.
In an email to Tech Startups, the Wall Street giant said, “The new executives, who will be based across Seattle, Los Angeles, New York, and Boston, will help grow the firm’s dedicated Venture Capital, Technology & Disruptive Commerce, and Life Sciences groups.”
The hiring marks another significant milestone in the firm’s commitment to building a full ecosystem around the fast-growing innovation economy, as J.P. Morgan continues to expand its capabilities catering to the unique needs of early-stage companies and investors.
J.P. Morgan’s Innovation Economy group encompasses dedicated Venture Capital (VC), Technology & Disruptive Commerce (TDC), and Life Sciences teams. The group also partners with J.P. Morgan’s other lines of business to deliver the full breadth and depth of the firm’s capabilities to its clients, across Investment Banking, Private Banking, and Asset Management.
Carly Kiser, Jordan Litke, Sarah Peluso, and Paula Root join J.P. Morgan as executive directors within its TDC team. Based in Seattle, Kiser has more than ten years of experience serving as a banking and capital strategy partner for founders and investors in the technology and life sciences communities. Kiser, Peluso, Root, and Shahrestani join from Silicon Valley Bank. Litke joins the team from Bank of America.
Litke joins the team in Boston, with 13 years of experience focused on high-growth technology companies and helping middle-market clients expand internationally. Peluso will be based in Los Angeles and brings nine years of experience developing banking solutions and debt financing for venture-backed fintech and consumer companies. Root has deep consumer sector experience and brings more than ten years of experience supporting high-growth, venture-backed companies in the New York area.
Navid Shahrestani joins the firm as an executive director in the VC team in Los Angeles and will be responsible for deepening relationships and delivering the global resources of J.P. Morgan to the VC community. Shahrestani has ten years of experience serving the VC industry, connecting founders and investors with the venture ecosystem.
“J.P. Morgan is accelerating its commitment to delivering the expertise, solutions, and connectivity that early-stage companies need to unlock their full potential at every stage of growth,” said Melissa Smith, Head of Specialized Industries for MMBSI. “Our new team members bring decades of experience in advising leading entrepreneurs, investors, and VCs across the globe and will be a tremendous asset to our clients.”
JPMorgan Chase Commercial Banking is a business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with assets of $3.4 trillion and operations worldwide. Through its Middle Market Banking & Specialized Industries, Corporate Client Banking & Specialized Industries, and Commercial Real Estate businesses, Commercial Banking serves emerging startups to midsize businesses and large corporations as well as government entities, not-for-profit organizations, and commercial real estate investors, developers, and owners. Clients are supported through every stage of growth with specialized industry expertise and tailored financial solutions including credit and financing, treasury and payment services, international banking, and more.