JPMorgan hires BofA exec to lead midsize business banking in Calif.

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JPMorgan Chase has recruited a Bank of America executive into a newly created role leading middle-market business lending in California.

Tony Sciarrino will be the California segment head of middle-market banking and specialized industries for JPMorgan’s commercial bank. He will be based in Los Angeles and will report to John Simmons, an executive in the commercial bank.

“California has grown to become the world’s fifth-largest economy, and we’re fortifying our efforts to serve the vibrant companies in this state,” Simmons said in a press release Monday. “Tony’s commercial banking expertise, decades of experience and local relationships make him a great leader for our continued expansion in the state.”

The $2.6 trillion-asset JPMorgan has more than a dozen commercial banking offices across California. Sciarrino and a team of commercial bankers are tasked with expanding midsize-business banking relationships there.

“Businesses in today’s complex environment need local bankers with the global resources to help them grow into the future,” Sciarrino said.

Sciarrino has more than 26 years of experience in financial services from his career with Bank of America Merrill Lynch. Most recently he worked as the global client acquisition executive in the U.S. and Canada for the company’s global commercial bank. Before that, he was a market executive in charge of financial professionals specializing in strategic debt, treasury and capital markets services for middle-market companies in California’s coastal region.

JPMorgan has teams dedicated to middle-market banking and specialized industries in the 50 largest metropolitan statistical areas in the U.S. and has specialized teams focusing on 16 industries, including technology, agribusiness and health care.

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