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NEW YORK, Oct 28 (Reuters) - JPMorgan Chase (JPM.N), opens new tab has named long-time executive Jay Horine to oversee its $1.5 trillion investment fund focused on companies critical to U.S. national security, according to a memo seen by Reuters. Earlier this month the bank announced plans to hire bankers and invest up to $10 billion in U.S. companies in sectors such as defense, energy and manufacturing as part of a broader $1.5 trillion pledge over 10 years. Advertisement · Scroll to continue Horine, who was the co-head of global investment banking, will become global banking’s head of its Security & Resiliency Initiative, effective immediately, the memo said. He will continue to report to Filippo Gori and John Simmons, the co-heads of global banking. "Jay’s industry expertise and strong relationships across the energy sector and other critical industries make him ideally suited for this pivotal role," Gori and Simmons wrote in the memo. With Horine's appointment, Dorothee Blessing will now become the sole head of global investment banking. The bank plans to deploy the $10 billion through direct equity and venture capital investments. Advertisement · Scroll to continue Antimony and gold miner Perpetua Resources (PPTA.O), opens new tab became the first firm to receive investments under the new initiative. Ad Break Coming Up NEXT StayNext OffEnglish 180p288p360p480p540p576p720pHD1080pHDAuto (180p) About ConnatixV2125200913 About ConnatixV2125200913 Continue watchingafter the adVisit Advertiser websiteGO TO PAGE Reporting by Nupur Anand in New York; Editing by Lisa Shumaker Purchase Licensing Rights Nupur AnandThomson ReutersNupur Anand is a U.S. banking correspondent at Reuters in New York. She focuses on JPMorgan Chase, Wells Fargo and regional banks. Anand covered banking and finance in India for more than a decade, chronicling the collapse of major lenders and turmoil at digital banks and cryptocurrencies. She has a degree in English literature from Delhi University and a postgraduate diploma in journalism from the Indian Institute of Journalism & New Media in Bangalore. Anand is also an award-winning fiction writer. EmailXLinkedin
