JPMorgan has reshaped its senior investment banking ranks, naming Dorothee Blessing as sole head of global investment banking and moving Jay Horine to oversee a new initiative focused on companies considered vital to US national security.

According to a memo reported by Reuters and Financial News, Horine becomes global banking’s head of the Security & Resiliency Initiative, which will guide a $1.5 trillion pledge over 10 years and deploy up to $10 billion directly into US companies through equity and venture capital investments.

Filippo Gori and John Simmons, co-heads of global banking, wrote: “Jay’s industry expertise and strong relationships across the energy sector and other critical industries make him ideally suited for this pivotal role.” He will continue to report to Gori and Simmons.

With Horine’s move, Blessing steps into the newly consolidated leadership of investment banking coverage. Financial News reported that she had previously co-headed the unit with Horine following a reshuffle last year and has held senior roles across Emea since joining JPMorgan more than a decade ago. A former Goldman Sachs banker, Blessing initially led coverage of countries including Germany before co-heading JPMorgan’s dealmaking team in Emea.

In their memo, Gori and Simmons wrote that Horine “will coordinate our global banking activities across these strategic industries and work closely with colleagues, and clients to help them scale.” Reuters added that the bank intends to use direct equity and venture investments and will hire bankers to support the programme.

The leadership changes follow a period of heightened focus on defence, energy and manufacturing within JPMorgan’s broader strategy, as described in the memo cited by both outlets.

Blessing’s appointment as sole head aligns coverage with the bank’s reoriented investment priorities, while Horine’s brief centres on building and financing capacity in sectors deemed critical.

---