JPMorgan Chase announced it has invested $5 billion in startup companies during the first year of its U.S. security and resiliency initiative, a faster pace than expected. The bank, which initially committed $10 billion over a decade, may expand the program further. Co-president Doug Petno said the group, led by former Berkshire Hathaway executive Todd Combs, has "hit the ground running" and placed the bank in "some really interesting companies."
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Doug Petno
Co-president of JPMorgan Chase