JPMorganChase to hire more Bay Area bankers as company remains bullish on region

Below is an excerpt of that conversation, which can be read in full here:

“The country’s largest bank by assets is bullish on the Bay Area amid an artificial intelligence boom and looking to grow.

JPMorgan Chase & Co. is hiring 50 local business bankers in San Francisco and Oakland and plans to boost local philanthropy by $2.5 million.

“We want to be the lead option for every kind of business and every consumer in this market, whether you are a startup, venture-backed by the biggest venture companies in the world, with the latest AI thing, or you’re the bakery at the corner,” said Ben Walter, CEO of Chase Business Banking.

The Business Banking hiring is planned over the next five years and represents a 30% increase in the division’s local workforce. Those bankers work with entrepreneurs to provide financial advice and loans. JPMorgan currently has nearly 6,000 Bay Area employees. The bank laid off 99 San Francisco workers last year but is continuing to hire.

JPMorgan is also renovating its offices at 560 Mission St. and One Front St. On Wednesday, the bank is hosting a gathering for local entrepreneurs at the Midway, a San Francisco event venue. Nationwide, the bank plans to open more than 160 new branches in over 30 states this year.

JPMorgan is also issuing grants totaling $2.5 million to help San Francisco small businesses, fill vacant retail spaces and fund downtown events. Recipients include culinary nonprofit La Cocina, manufacturer nonprofit SFMade, Advance SF and the Civic Joy Fund, which organizes the Downtown First Thursdays block parties. JPMorgan previously committed $3.8 million in local philanthropy last year."