Jamie Dimon Photo source Company’s Website
JPMorgan Chase & Co, the financial power house led by Jamie Dimon, is expanding its operations in Israel. According to a report in Calcalist, the firm is also entering the commercial banking sector for high-tech companies in Startup Nation for the first time, after primarily focusing on investment banking, private banking, and wealth management.
Calcalist said that JPMorgan already hired ten employees for the new office including Darya Fuks, former head of corporate development at Wix and a former employee of JP Morgan.
It certainly makes sense that JPMorgan is expanding its operations in Israel, which is otherwise known as Startup Nation for all of its startups in the high-tech sector. The list of Israeli startups that made successful exits through initial public offerings is too long to mention all of them. And JP Morgan Chase is a firm that is certainly not lacking in experience when it comes to handling IPOS.
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JPMorgan will reportedly focus primarily on late-stage high-tech companies and provide strategic advice to venture capital funds and their portfolio companies.
This is some needed positive news for the firm after it most recently made headlines for its involvement in the whole Jeffrey Epstein scandal. The firm was accused of enabling the late rapist and pedophile to continue with his nefarious activities by handling his finances. That money included funds used to pay for the expenses involved in maintaining Epstein’s estate in the U.S. Virgin Islands that was dubbed “Pedophile Island.” JPMorgan settled a lawsuit last week brought by one Epstein victim for $290 million.
JP Morgan has been serving clients in Israel since the 1960s and opened its first Israeli office in 2000. With headquarters in Tel Aviv, the firm says that its leadership in the country extends across investment banking, asset management, private banking and treasury and securities services.
