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Bailey McCann, Opalesque New York: J.P. Morgan Private Bank has launched a new Fund Banking Group, the unit will serve as a division of the U.S. private bank's business focused on the banking, lending and investing needs of private equity and venture capital funds and their principals.
The new division will join First Republic's historical fund business with J.P. Morgan's private banking group to provide services.
"Historically, we've worked with some of the largest firms in the world, and the acquisition of First Republic earlier this year has enhanced our ability to reach a new segment of this industry," said David Frame, U.S. Chief Executive Officer of J.P. Morgan Private Bank.
Jeff Kaveney has been appointed as head of the Fund Banking Group. In this newly created role, Jeff will be responsible for defining and leading the private bank's fund banking strategy, driving the integration of more than 10,000 of First Republic's fund clients, and growing the business' position as the premier bank, lender, and investment partner to this sector. He will report to Jason Gies, managing director and head of the Private Bank's Financial Sponsors Group.
Prior to co-leading the business' lending practice, Kaveney was the private bank's global head of banking and custody and spent more than a decade in the private bank's investment business. In his new role he will partner with Gies and Jeremy Geller, co-head of J.P. Morga...................... To view our full article Click here
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