Jamie Dimon Rolls Out JPMorgan’s $80 Billion American Dream Initiative as Private Markets Bet Grows (JPMorgan Chase)
JPMorgan Chase launched a $80 billion, 10-year small-business lending initiative and aims to grow its small-business clients to 10 million. The bank also hired Rand Araskog and promoted Eric Ghernati to expand its private capital unit as more companies delay going public. The program will target cities including Atlanta, Los Angeles, and Philadelphia. J.P. Morgan reiterated a Hold rating on Cushman & Wakefield.