JPMorgan vows to plow $1.5 tn into critical US sectors

JPMorgan Chase & Co. vowed to funnel $1.5 trillion into industries that bolster US economic security and resiliency over the next 10 years—an initiative that will invest billions of dollars in companies and hire bankers and other professionals.

- Bloomberg

CEO Jamie Dimon is launching the initiative.

(BLOOMBERG)

The campaign will ramp up the amount of capital, resources and personnel that the largest US lender already dedicates to a variety of sectors, such as rare earth minerals, pharmaceutical precursors and robotics, or ventures developing defence, aerospace and energy technologies, such as drones, battery storage or grid resiliency.

JPMorgan estimated the effort will add as much as $500 billion to what it would've provided anyway.