J.P. Morgan Private Bank announced the launch of its Fund Banking Group, 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.
This new division combines the experience of First Republic’s historical fund business with the Private Bank’s history serving some of the country’s largest funds and their C-suites.
Jeff Kaveney has been appointed as Head of the Fund Banking Group. In this newly created role, Kaveney 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.
In his new role, he will partner with Gies and Jeremy Geller, Co-Head of J.P. Morgan Private Bank’s New York City market and financial services segment strategy leader, to scale the group’s professional skills across the U.S. and globally. As an expansion of the Financial Sponsors Group, Kaveney and the Fund Banking Group team of more than 40 front office professionals will extend the delivery of J.P. Morgan’s services to the broader fund ecosystem
The Fund Banking Group extends across the United States, with hubs in Boston, MA, New York, NY, and Los Angeles, San Francisco and Palo Alto, CA. The group’s geographic footprint will be bolstered by bankers across the country who have joined the Private Bank’s Fund Banking Group from First Republic. The Fund Banking team will also partner closely with J.P. Morgan Commercial Banking’s Innovation Economy business, building on its relationships with General Partners and providing support for this sector.