Inside the dual-command structure of JPMorgan’s startup banking arm

China, a veteran recruit from Silicon Valley Bank, and Kresse, a two-decade JPMorgan insider, oversee a 550-person team serving over 11,000 companies. Since the collapse of Silicon Valley Bank and JPMorgan’s acquisition of First Republic, the firm has aggressively pushed to capture the startup market, aiming to shed its reputation as a bank reserved strictly for established corporations. The duo operates on opposite coasts, utilizing the time zone difference to extend their availability and leveraging their contrasting backgrounds to manage rapid expansion.

Scaling the Innovation Economy

Communication between the two relies on a "divide and conquer" philosophy rather than rigid hierarchy. They describe their partnership as coaching in real-time, relying on an established rapport built through international advisory boards before their formal appointment. This collaborative approach is currently being tested by the surge in AI startups, a sector the pair monitors with an "athletic stance" to remain ready for the next wave of high-growth companies. For China and Kresse, success in co-leadership hinges on assuming positive intent, ensuring that their 550-person team remains agile enough to pivot as quickly as the venture capital market demands.