JPMorgan Private Bank has launched its new Fund Banking Group, a division of the US 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 extensive 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, he 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.
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 strong 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 JPMorgan Commercial Banking’s Innovation Economy business, building on its strong relationships with General Partners and providing seamless support for this important sector.
