NEW YORK, April 21 (Reuters) – JPMorgan Chase said on Tuesday its $1.5 trillion initiative to finance and invest in industries critical to U.S. national security will expand across Europe.
Here are some details:
* The expansion of the so-called Security and Resiliency Initiative (SRI) underscores the U.S. bank’s commitment to strengthen supply chains and support industries critical to innovation and growth, it said in a statement.
* JPMorgan’s global head of SRI, Jay Horine, and CEOs for Europe, the Middle East and Africa, Conor Hillery and Matthieu Wiltz, will provide leadership, oversight and accountability for the initiative in the region.
* The firm intends to appoint Admiral Sir Tony Radakin, the former chief of the UK Defence Staff, to the SRI external advisory council subject to regulatory approval.
* CEO Jamie Dimon said “For too long, the U.S. and Europe have relied on unpredictable sources for things like critical minerals that are essential to collective security and prosperity. Now, it is in our best interest to address these challenges together – because our security, freedom and economic growth depend on it.”
(Reporting by Saeed Azhar; Editing by Chris Reese)
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