The U.S. banking giant said Monday it is bringing its 10-year Security and Resiliency Initiative, first announced in October, to the country. The program aims to direct financing, capital raising and investment toward sectors including energy, defence, critical minerals and advanced manufacturing, although the bank has not disclosed a specific dollar allocation for Canada.
(The Logic, The Globe and Mail)

Talking point: JPMorgan has reportedly deployed US$122 billion of its US$1.5-trillion target so far, and has identified roughly 4,000 companies globally that fit the initiative’s focus areas. The expansion comes as Ottawa seeks to attract $500 billion in private-sector investment over the next five years and amid calls for financial institutions to play a larger role in supporting domestic growth. Jay Horine, the initiative’s global head, told the Globe the program is expected to increase financing activity by roughly 50 per cent above normal levels. JPMorgan Canada CEO David Rawlings will lead the initiative in Canada.