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JPMorgan Boosts Small-Business Support with 500+ Banker Hires

JPMorgan Chase & Co, the largest lender in the U.S., has announced plans to hire more than 500 bankers to cater to small businesses through 2024.

This increase in staffing will boost the bank's workforce serving small enterprises by 20% from the current 2,300 employees. The added staffing is a sign of the company's commitment to supporting small business owners through the ups and downs of the business cycle, according to Ben Walter, CEO of business banking at JPMorgan.

Despite the economic outlook worsening, small business owners remain optimistic, according to a survey conducted by JPMorgan. Two-thirds of the business owners surveyed expect increased sales, and 65% anticipate higher profits. However, some Wall Street giants, including Goldman Sachs Group Inc and Morgan Stanley, have cut thousands of jobs due to the economic slowdown, and the tech industry has also announced tens of layoffs.

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