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JPMorgan is hiring people from SVB as MDs

When Silicon Valley Bank collapsed back in March, eyes were suddenly drawn to the investment banking talent it hired in the years before its downfall. Some of those people are resurfacing - at JPMorgan.

Susan Winter, for example, has just rejoined JPMorgan after 24 years as a managing director and head of innovation economy syndication. She spent the nearly 13 years at SVB, where she was most recently global head of loan syndications. Winter, who is based in Palo Alto, began her career at JPMorgan as an associate in the financial sponsors team but left after less than five years in 1999.

Winter isn't the only SVB alum hired as an MD at JPMorgan this month. Ilya Klets, a former SVB MD in fintech corporate banking also joined JPM this month as an MD working with tech and disruptive commerce clients. Klets has worked for various high profile fintechs in California, including PayPal, LendingClub and Qwil. He joined SVB in 2020.

The SVB additions come as JPMorgan building out its fintech funding platform, Capital Connect. However, with MDs now required to be in the office five days per week, the culture will still be very different to the WFH friendly bank of the tech sector.

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AUTHORAlex McMurray Editor
  • ph
    12 May 2023

    If they've got needed talent and were not part of why the place collapsed, fine. One would hope that JPMC will have learned important lessons from recent history, though JD's arrogance in some areas, especially towards his employees, doesn't help that hope.

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