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A JPMorgan veteran left to work in Detroit's government. Now he's back to help the bank's $1.5 trillion security effort. Sep 25, 2026, 2:51 AM PT Marcus von Kapff's knowledge of Detroit's formerly byzantine permitting process for opening a small business has come in surprisingly handy in his new role at JPMorgan. Von Kapff spent two decades at JPMorgan before becoming Detroit's chief operating officer in 2024, and is now back to work on the firm's Security & Resilience Initiative, a $1.5 trillion effort to boost industries seen as strategically important to the US. Many of the SRI team's projects rely on coordination between the government and private industries, and von Kapff said his time in the public sector has positioned him uniquely well to do that work. He rejoined the firm this summer as head of advanced manufacturing, overseeing a team that supports companies building cutting-edge products, like specialized sensors or industrial equipment. "I have a lot more empathy for understanding the roles that they play and how hard these jobs are," von Kapff said about government officials. He didn't expect to return to JPMorgan - when asked, von Kapff said no with a loud, halfway shocked laugh - but said he was compelled by SRI's mission and that "timing is everything." Conversations with former colleagues, who assured him that the effort had the support of CEO Jamie Dimon, convinced him to join the roughly 30-person team. Von Kapff previously held a range of management positions at JPMorgan, including CFO of the commercial bank. In Detroit, he said he drew on the problem-solving and trust-building skills he developed at the firm to reform housing zoning laws, grow public transportation, and secure government funds for infrastructure investments. Now, he spends his days meeting with internal stakeholders and government officials to raise capital and address problems in the advanced manufacturing sector. It's an unexpected return to his roots: Von Kapff studied mechanical engineering in college and sold factory automation equipment in Pennsylvania and New Jersey after graduating. Solving the "knotty problems" Though von Kapff is a relative newcomer to SRI, the team has been in place for nearly a year. As of late September, it had financed more than $200 billion, and the strategic investment group had deployed more than $4 billion in equity. The team's work involves more stakeholders than is typical in banking and requires balancing the firm's commercial needs with the country's interests. Von Kapff is focused on figuring out how bankers' energy infrastructure deals, for example, can also boost the US manufacturing base. Yet more than anything, von Kapff focused on structural issues, like the "knotty problems of workforce," partly because the advanced manufacturing sector will face a 3.8 million-person worker shortage, according to JPMorgan's research. In June, SRI hosted a summit in Detroit focused in part on job growth and on how Michigan's industrial companies can help scale domestic supply chains. As Detroit's COO, von Kapff said he gained a new appreciation for the importance of a stable, well-paying job, which now informs everything he does. "If I have a long, hard day, and I'm kind of like, 'Why am I doing this again?' I just think about how if it leads to a good job back in Michigan or Detroit, it's worth it," he said. He has plenty of travel time to mull over snarled supply chains - von Kapff has been to Washington, DC, three times in his first eight weeks on the job. A unique perspective. Von Kapff has relied on his time in Detroit when working on public-private partnerships, a cornerstone of SRI's work. When the team is negotiating these deals, von Kapff said he can provide political context, which has "been material." "I just look at the problem from another angle," he said. "I now understand the incentive systems and the motivations from the public side that I might not have known before." Beyond being able to look at deals from the other side, von Kapff has helped facilitate work and events in Michigan and is actively working on public-private partnerships across the US. His local work, however, is only relevant to an extent. Figuring out how to simplify the permitting process for small business owners in Detroit, for example, provides an intellectual skeleton for SRI's internal permitting task force, but leaves gaps. "I know I can get it done, but that was just at a city level," von Kapff said. "Trying to do something similar at the federal level is going to be hard, but I'm up for it."

JPMorgan Chase names Feinsilver US Wealth Management communications head. The former Kroll communications leader joins after earlier senior roles at UBS and Merrill Lynch. NEW YORK - JPMorgan Chase has named Lori Feinsilver head of US Wealth Management communications, effective September 28. Feinsilver will oversee communications for the business and join the Consumer & Community Banking communications leadership team. She joins from financial and risk advisory firm Kroll, where she most recently served as global head of corporate communications. Before Kroll, Feinsilver spent 12 years at UBS and 10 years at Merrill Lynch in senior wealth management communications roles. Her experience includes executive and digital communications, transformation, media and shareholder relations, speechwriting and social media. At JPMorgan Chase, Feinsilver will work closely with the firm's field communications, social media and US Wealth Management marketing teams. Article tags News direct to your inbox The agency playbook. The PR industry's most comprehensive listing of firms from every region and specialty.

JPMorgan to double GIFT City business as $1 billion book expands. ET Online Last Updated: Sep 23, 2026, 10:27:00 AM IST JPMorgan Chase & Co. plans to expand its operations at Gujarat's GIFT City in the next few years. The bank aims to double its business in areas like trade finance and payments. After establishing its branch in 2022, JPMorgan currently serves a few hundred clients with a book of nearly $1 billion. GIFT City is attracting multinational companies exploring treasury and cross-border financial operations. JPMorgan Chase & Co. plans to double its business at Gujarat 's GIFT City over the next couple of years, as the Wall Street bank expands its operations in trade finance, foreign exchange, liquidity and payments. The bank's GIFT City business currently has a book of close to $1 billion and serves a few hundred clients, according to people familiar with the matter and Max Neukirchen, global co-head of payments at JPMorgan. "We've been there for four years now and have a few hundred clients there, with the business growing substantially," Neukirchen told Bloomberg TV. The expansion will build on JPMorgan's existing operations at the International Financial Services Centre. The bank opened its GIFT City branch in 2022 and offers loans, risk management, working-capital financing and investment services, along with fixed-income, commodities and capital-markets products. It appointed Amit Roy, a senior executive from its London office, to head the branch in June. You May Like GIFT City draws MNC treasury business. JPMorgan's expansion comes as GIFT City attracts more multinational companies looking to move treasury and cross-border financial operations to the centre. In July, JPMorgan said more than 100 multinationals had approached the bank to explore banking and payment solutions for corporate treasury operations over the next 12 to 18 months. The companies include insurance and fintech firms. "Treasury centers are a major theme for GIFT City, and the ability to offer foreign-currency accounts alongside rupee capabilities provides an additional tailwind," Guhaprasath Rajagopal, managing director and head of payments at JPMorgan India, had said in an interview cited by Bloomberg. Rajagopal also said: "Significant internal evaluation is underway at corporates, particularly among multinational firms." JPMorgan provides services including physical pooling, cash concentration and notional pooling to companies using the centre for treasury operations. GIFT City banking assets cross $110 billion. The expansion comes as the scale of GIFT City's financial ecosystem has increased. Banking assets at GIFT City IFSC stood at $111 billion as of March 2026, according to data cited by ETBFSI. The financial hub had more than 1,500 entities and a workforce of about 27,000 professionals at the time. Loans and advances by global and regional corporate treasury centres operating from GIFT City stood at $5.61 billion as of March 2026, the same report said. The banking ecosystem has also expanded. As of February 2026, 37 banks were operating in GIFT IFSC, including 20 foreign banks and 17 domestic banks, according to an ETBFSI report citing GIFT City data. Dimon flags India investment opportunity. JPMorgan's GIFT City expansion comes alongside the bank's wider India strategy. In an interview with ET, JPMorgan Chase CEO Jamie Dimon said India's economic prospects remained strong while pointing to concerns around taxation and the application of rules. "At 7.8%, India is probably the fastest-growing economy on the planet. I think it's got great prospects. It's done a lot of things over the years that have made the economy better. There are always things you can do to make it better, particularly around regulations, consistent taxing and consistent policies. My view is it's going to have a pretty bright future." On foreign investor concerns, Dimon said: "You often get complaints from investors on taxes and inconsistency in the application of rules. Those should be fixed to strengthen investments here." He also said JPMorgan would continue to expand in Asia. "JPMorganChase has grown considerably in Asia and we will continue to do so. We look at every country's rules, regulations, central bank, its schools, its commodities for example. We try to understand its strengths and weaknesses, and each country has its own growth prospects," Dimon said. Read More News on