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JPMorgan to hire more than 500 bankers to serve SMEs


JPMorgan Chase & Co. has planned to hire more than 500 bankers in two years who will boost the bank’s workforce serving small enterprises by 20% from about 2,300 currently. Ben Walter, JPMorgan’s chief executive officer of business banking, said the added staffing signals the company’s intent to support them through the business cycle. According to the largest US lender, a majority of small business owners expect a recession this year but they also remain optimistic, with two-thirds seeing increased sales and 65% anticipating higher profits. In September, JPMorgan’s global chief information officer Lori Beer said the company planned to add about 2,000 engineers worldwide amid fierce competition for tech talent. More broadly, the bank’s global headcount rose 8% to 293,723 last year.


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