New York City-based JPMorgan Chase & Co. (NYSE: JPM) is expanding its commercial banking in the Springfield market with a key local hire.
Brenton Kembell was brought on as executive director of JPMorgan Chase’s commercial banking in southwest Missouri. Kembell said via email this morning that JPMorgan Chase has served clients locally with commercial banking “for a long time,” but his hire marks the “first time we’ll have a local, on-the-ground commercial banking presence in Springfield.”
The expansion represents growth of JPMorgan Chase’s middle-market banking and specialized industries division into Springfield, according to a news release.
“As the manufacturing capital of Missouri, with a dynamic middle market, Springfield outpunches its weight when it comes to its flourishing business sector,” Kembell said in the release. “I’m excited to bring the strength of JPMorgan Chase to local companies to contribute to Springfield’s success story.”
Kembell said JPMorgan Chase is evaluating whether it will add a branch in the market.
“We plan to build up to 400 new Chase branches in several new markets over the next five years. We are not in some significant markets like Springfield, but hope to be soon,” he said via email. “We’re still confirming our plans and will share more details when we can.”
Kembell comes to JPMorgan Chase from BancorpSouth, where he worked for more than two years as a commercial banking senior vice president in Springfield.
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