Banking

JP Morgan launches Irish commercial bank to finance domestic start-ups

The US investment bank has hired a new senior banker to support high-growth firms in technology, life sciences and other industries

The new commercial banking unit in JP Morgan will provide capital, liquidity solutions and advice to companies that are in an earlier stage of their development. Picture: Getty

JP Morgan Chase, the Wall Street investment banking giant, has established a new commercial bank to service the Irish market. The company said the new bank will target high-growth start-ups in the technology, life sciences and other sectors.

The world’s biggest bank, which employs nearly 1,400 staff in Ireland, announced on Tuesday that its global commercial arm had made its first Ireland-based hire, to manage a service offering for less developed companies seeking to scale ...