JPMorgan Chase & Co (JPM.N) on Monday launched a new division in its asset management business that will give institutional and high-net-worth clients opportunities to invest in and lend to young, fast-growing companies.
The group, called J.P. Morgan Private Capital, recruited Christopher Dawe from Goldman Sachs Group Inc (GS.N) to lead its technology and consumer growth equity business, and Osei Van Horne from Wells Fargo & Co (WFC.N) to lead its investments across industries, particularly those with an ESG focus.
The group's head is Brian Carlin, who used to be the head of J.P. Morgan's wealth management solutions. Rick Smith, who previously headed private investments at JPMorgan Chase, a separate division of the bank, will serve as chairman of the group. Meg McClellan will lead private debt.
The group will report to Anton Pil, the global head of alternatives.
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Source: reuters.com
