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☆ JPMorgan doubles down on startup banking by scooping up SVB veterans. Here's the bank's plan to take advantage of the venture capital slump.
▼ + stars: | 2023-09-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +6 min

The March implosion of Silicon Valley Bank created a banking vacuum in the startup world. In 2019, the group poached four executives from SVB to work with venture capital funds and their portfolio companies. But these plans were accelerated by the collapse as customers fled to JPMorgan from SVB as well as First Republic, which JPMorgan now owns. First Republic also served emerging venture capital firms, an untapped client segment for JPMorgan's commercial bank. In some aspects, the breakdown of SVB strengthened JPMorgan's appeal to tech upstarts that had previously eschewed too-big-to-fail banks, Smith said.

Persons: John China, Melissa Smith, Smith, playbook, Jamie Dimon, SVB, Darya, fintech Organizations: Valley Bank, JPMorgan, SVB, West Coast, Bay Area, Silicon Valley Bank, Capital, fintech Aumni, Capital Connect Locations: Beijing, Frankfurt, London, Stockholm, Sydney, Tel Aviv, Zurich, San Francisco, New York, Silicon Valley, West, SVB, Republic, Israel, fundraises

☆ Wex CEO Melissa Smith: Freight customers expect a reset to happen next year
▼ + stars: | 2023-07-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWex CEO Melissa Smith: Freight customers expect a reset to happen next yearWex CEO Melissa Smith joins 'The Exchange' to discuss its $100 million investment into EV fleet transition, Wex's exposure to the freight industry slowdown, and more.

Persons: Melissa Smith Organizations: Freight, EV

CNN —After months of probing and multiple investigations, authorities in northwestern Oregon now believe the mysterious deaths of four young women are connected, the Multnomah County District Attorney’s Office announced Monday. “The last known area that Perry was known to frequent was downtown Portland … at the beginning of March,” the sheriff’s office said. The body of Bridget Leann (Ramsey) Webster was found on April 30 near Mill Creek, which is about 50 miles southwest of Portland, according to the Polk County Sheriff’s Office. “The last known area that Webster was known to frequent was the Portland metro area, particularly Portland, Oregon City, and Milwaukie,” the sheriff’s office said in a Facebook post. Real had been reported missing to Portland police on April 4, according to the Multnomah County District Attorney’s Office.

Persons: Kristin Smith, Ashley Real, Lynn Perry, Bridget Leann, Ramsay, Webster, ”, Melissa Smith, “, Perry’s “, Perry, Diana Allen, ” Allen, Ramsey, Real Organizations: CNN, Attorney’s, Authorities, Portland Police Department, KPTV, Multnomah County Sheriff’s, Portland …, KATU, Sheriff’s Office, Portland police, Attorney’s Office Locations: Oregon, Multnomah County, Portland, Mill, Polk, Portland , Oregon City, Clackamas County

NEW YORK, May 22 (Reuters) - JPMorgan Chase & Co (JPM.N) is beefing up its commercial banking business that caters to tech startups and other early-stage companies, the company said on Monday. The largest U.S. lender plans to add staff after it hired more than a hundred bankers this year to serve companies in the so-called innovation economy in sectors such as technology, e-commerce and life sciences. Two other regional lenders were subsequently seized by banking regulators, including First Republic Bank, which JPMorgan bought earlier this month. JPMorgan's broader commercial bank has more than 18,000 clients, including mid-sized businesses and corporations, government entities and non-profits and more than 33,000 real estate investors or owners. It also aims to expand overseas to serve early-stage companies in the United Kingdom, Europe and Asia.

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