- JPMorgan Chase & Co announced that it hired four bankers from Silicon Valley Bank to head up its new venture capital coverage team
JPMorgan Chase & Co recently announced it hired four bankers to head up a new team in its commercial bank, which will connect venture capitalists with technology and life sciences startups, according to Reuters. This team is being called the “venture capital coverage team.”
The new hires have substantial experience working with venture capital firms at Silicon Valley Bank. And this team is going to serve as a bridge between venture capital investors and the middle market. Plus they specialize in covering the types of companies in which the firms are already invested or may want to invest in the future.
The venture capital coverage team is going to be headed by Pamela Aldsworth. And the team also includes Andy Kelly, Katie Taormino, and David Reich. All of them joined JPMorgan from Silicon Valley Bank.
Aldsworth and Reich are going to be based out of Boston. And Kelly and Taormino are going to be based in the San Francisco Bay Area.
“Venture capital is the lifeblood of the innovation economy, and we will be able to bring the unmatched solutions, network and global connections clients need to be successful,” said Aldsworth via Reuters.
JPMorgan combined two units in the commercial bank, the middle-market technology, and emerging growth commercial banking teams earlier this year. By doing this, JPMorgan will be able to better compete in handling the business of startups, which are quickly scaling.