J.P. Morgan appointed John China co-head of innovation economy for commercial banking. Based in San Francisco, China will serve alongside New York-based Melissa Smith, who is continuing her dual role as co-head of innovation economy and head of specialized industries for commercial banking.
China and Smith will lead a team of more than 350 dedicated bankers, providing financial and advisory solutions to more than 6,000 innovation economy companies globally. Since 2016, J.P. Morgan’s commercial banking division has steadily built its innovation economy business to support companies, startups, founders and venture capital firms across the technology, disruptive commerce, life sciences, climate-tech and healthcare IT industries. The firm has also entered new markets, expanding its geographic footprint to collaborate with innovation economy clients in the UK, Ireland, the Nordics, Germany, Australia, Israel and China.
“The founders and investors who make up the innovation economy are tackling some of the biggest issues facing our world today. They’re creating jobs, technology and opportunities that are uplifting communities and driving the global economy forward,” John Simmons, head of middle-market banking at J.P. Morgan, said. “We’re committed to supporting this critical segment, and John and Melissa’s industry expertise and extensive experience will provide coast-to-coast leadership during this pivotal time for our clients.”
China joined J.P. Morgan after 27 years at Silicon Valley Bank, where he most recently served as president of SVB Capital and was responsible for the fund management business across VC, funds of funds and direct funds. He previously led SVB’s North America technology banking teams and the company’s corporate venturing group, early-stage banking services, global gateway program, credit solutioning group and corporate finance.
“I’m tremendously proud of the deep relationships we’ve built with our innovation economy clients,” Smith said. “Recent market events have only strengthened our commitment to provide the bespoke services and solutions that founders, startups and investors need to thrive. I look forward to partnering with John to further accelerate our efforts to deliver for our clients.”
“J.P. Morgan’s ability to serve clients throughout every stage of their life cycle is a true differentiator in the marketplace,” China said. “As companies scale and grow more sophisticated, their banking needs can quickly turn complex. I’m excited to partner with Melissa and double down on the team’s efforts to support companies as they build their businesses and leave their mark on the world.”
J.P. Morgan has continued to invest in its people, resources and capabilities to provide tailored solutions for the innovation economy ecosystem. Recent investments include:
- The establishment of a standalone innovation economy startup banking business to serve early-stage companies
- The expansion of its climate-tech team
- The creation of a dedicated sponsor ARR financing team to complement existing venture debt capabilities
- Simplifying the digital banking experience and bundled payments offerings
- Providing digital capital raising and networking through the Capital Connect platform with analytics powered by Aumni
- Providing a cloud-based share plan management through Global Shares, an asset management solution for employee ownership
- Providing access to research and industry insights through the J.P. Morgan Markets platform
- Providing support for founders and partners through J.P. Morgan’s Private Bank