JPMorgan Chase has appointed Jay Horine, a long-time executive, to lead its $1.5 trillion investment fund. The fund is specifically focused on companies critical to U.S. national security. This appointment follows the bank’s announcement earlier this month of plans to invest up to $10 billion in U.S. companies operating in sectors such as defence, energy, and manufacturing. This investment is part of a larger $1.5 trillion commitment over the next decade. JPMorgan Chase is a global financial services firm, and one of the largest banking institutions in the world. The company provides investment banking, asset management, and other financial services.
Horine, previously co-head of global investment banking, will now serve as global banking’s head of the Security & Resiliency Initiative, effective immediately. According to the internal memo, he will continue to report to Filippo Gori and John Simmons, the co-heads of global banking. Gori and Simmons stated in the memo that Horine’s industry expertise and strong relationships across the energy sector and other critical industries make him ideally suited for this pivotal role.
With Horine’s new role, Dorothee Blessing will now assume the position of sole head of global investment banking. JPMorgan Chase intends to deploy the initial $10 billion through direct equity and venture capital investments, targeting companies that bolster U.S. national security interests.
Perpetua Resources, an antimony and gold miner, has already been identified as the first recipient of investments under this initiative. Perpetua Resources is listed on the Toronto Stock Exchange (PPTA.TO).
