: JPMorgan’s Chase to hire 500 bankers to expand small-business relationships

Chase, the U.S. consumer and commercial banking business of JPMorgan Chase & Co JPM., said it plans to hire more than 500 bankers over the next two years as it looks to expand relationships with small businesses. The hiring will increase Chase Business Banking’s workforce by 20%. “Small business owners are facing difficult challenges with persistent inflation, supply chain disruptions, and expense pressure,” said Ben Walter, chief executive officer of Chase Business Banking. “This investment in our workforce is a testament to our commitment to our clients and our intent to support them through the business cycle.” JPMorgan’s stock, which slipped 0.2% in afternoon trading, has advanced 9.0% over the past three months, while the Financial Select Sector SPDR exchange-traded fund XLF has gained 7.3% and the Dow Jones Industrial Average DJIA has tacked on 2.7%.

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