JP Morgan Chase Opens Commercial Bank Focusing On Tech In Silicon Valley
JP Morgan Chase just opened its first commercial banking office in Silicon Valley. The Palo Alto office at 310 University Ave will focus on technology and life science and is part of a larger national expansion to provide local and specialized bankers closer to a growing client base.
By the end of this year, Chase will have added four additional commercial banks in California, including one in Walnut Creek, Long Beach and San Gabriel Valley. It has nine offices already open.
The tech team will be led by JPMorgan Chase managing director middle-market technology banking Tim Sandel (above). The team is a part of a large network of middle-market bankers who work in 15 specialized high-growth industries, such as tech, life science, media and entertainment, healthcare, energy and agriculture.
In addition to tech bankers, the new Palo Alto office will house a team of middle-market bankers led by JPMorgan Chase Northern California middle-market regional manager Jim Wening. The group will join the JPMorgan private bank and investment bankers already working on-site.