A memo seen by Reuters on Friday reported that JPMorgan Chase has appointed a group of senior leaders to further pursue its drive into areas related to national security and economic resilience.
The bank introduced its 10-year, $1.5 trillion Security and Resiliency Initiative (SRI) in October, enabling it to finance and invest in various industries, including semiconductors, defense, energy, artificial intelligence, and critical infrastructure.
Kevin Quinn has joined as the SRI lead for frontier and strategic technologies. According to the memo, he had earlier served in the U.S. Department of Commerce in its CHIPS Program Office.
The memo stated that Trevor Burns will work as the head of SRI for defense and aerospace, and Sara O’Rourke will be the head of SRI Solutions, a cross-functional team that collaborates with banking and product groups to resolve supply chain vulnerabilities.
Shannon Wu and Kelly Wolfe also joined in new positions to support the banking and operating teams at SRI, and Caroline Sambuco assumed the role of vice president at SRI Solutions, working as an investment director at the CHIPS Investment Office.
The growth is due to the geopolitical tensions leading to increased government and private-sector expenditure on developing technologies to enhance U.S. security, and JPMorgan seeks to support those companies through its expanding investment drive.
However, the Pentagon is urging leading AI companies, such as OpenAI and Anthropic, to extend their AI systems to classified networks.
The Wall Street Journal stated last week that the U.S. military deployed Anthropic’s Claude in the raid to detain former Venezuelan President Nicolás Maduro, highlighting the growing pace at which Washington is requesting sophisticated security technologies.
