NEW YORK CITY (dpa-AFX) - JPMorgan Chase & Co. (JPM), Monday announced the Security and Resiliency Initiative to facilitate, finance and invest in industries critical to national economic security and resiliency.
Under the $1.5 trillion plan, the company will make direct equity and venture capital investments of up to $10 billion to help select companies primarily in the United States.
The 10-year plan will focus on four key areas - Supply Chain and Advanced Manufacturing, Defense and Aerospace, Energy Independence and Resilience, and Frontier and Strategic Technologies.
To back this initiative, the company aims to hire more bankers, investment professionals and other experts.
Currently, JPM is trading at $308.50, up 2.53 percent on the New York Stock Exchange.
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