Inside JPMorgan Chase's push to become the startup world’s new Silicon Valley Bank
CNBC
For JPMorgan Chase, winning the niche of startup banking from rivals is about more than just gaining deposits: It's a bet to future-proof the largest U.S. bank.
Three years ago, JPMorgan Chase executive Doug Petno was at a New York City party celebrating a colleague's retirement when his boss, Jamie Dimon, called Petno over.
It was March 9, 2023, and the customers of a West Coast lender known for catering to startups had been withdrawing deposits in droves.
"Jamie looks at me and says, 'Get on this call,'" Petno told CNBC this week in an exclusive interview.
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Amazon asked the FCC for a waiver or 24-month extension to meet a July 2026 deadline to deploy 1,600 internet satellites.
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