JPMorgan Chase plucks fintech specialists from rivals
JPMorgan Chase has made four hires to expand the part of its corporate banking team that caters to financial technology clients.
The largest bank in the U.S. by assets says it is bolstering the team's presence in technology hubs like San Francisco and Austin, Texas. The new executives will be arranging treasury, lending and investment banking offers to fintech firms.
“With the continued convergence of technology and finance, we’re seeing a pronounced uptick in fintech companies in need of tailored solutions for their unique business models,” Brian Lehman, head of the bank’s specialty finance group for corporate client banking and other industries, said in a news release issued late last week.
The expansion could provide a shot in the arm to JPMorgan’s corporate client banking arm, where third-quarter revenues dipped 1% year over year to $739 million, according to its latest financial results. The specialty finance group works with other units within the bank that handle capital raising, loan syndications and M&A advice.
JPMorgan brought in Brody Mulderig, who helped start Wells Fargo’s national fintech team, as vice president in the team's San Francisco office.
The bank hired Peggy Doerr as executive director in the same market. Doerr was previously on Deutsche Bank’s fintech investment banking team.
Alastair Ojeda — who had been regional director at the private investment firm Dimensional Fund Advisors, and before that part of Goldman Sachs’ group covering fintech companies — was hired at JPMorgan as vice president in its Austin office.
Aaron Lindblom is joining as executive director in the team's New York office. Lindblom had been a senior trader at the investment firm Gagnon Securities.