Last year, JPMorganChase announced the launch of the Security and Resiliency Initiative, a 10-year, $1.5 trillion plan to facilitate, finance and invest in industries critical to national security. With an initial $10 billion in direct equity investments, the initiative aims to help select companies accelerate growth, drive innovation and strengthen strategic manufacturing. As Jamie Dimon, Chairman and CEO of JPMorganChase, put it, “It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing – all of which are essential for our national security.” In this episode, Aaron Mulvihill is joined by Jay Horine, Global Head of the Security and Resiliency Initiative, to discuss the priority areas that the initiative will be focusing on and the role that private companies play in making innovation happen. Watch the video version on YouTube. Resources: For more resources on Alternatives, visit our Guide to Alternatives and Principles of Alternatives Investing Listen to the audio version of the Alternative Realities podcast: Apple Podcasts | Spotify

Alternative Realities: Inside JPMorganChase’s $1.5 trillion security and resiliency initiative

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**Podcast:** Insights Now

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[SPEAKER_A] Welcome to Alternative Realities, a podcast about the people, strategies, and stories driving the world of alternative investments. I'm Aaron Mulvihill, Global Alternative Strategist for JPMorgan Asset Management. And today I'm very excited to welcome on Jay Horine, Global Head of the Security and Resiliency Initiative for JPMorganChase. The Security and Resiliency Initiative is a 10-year, $1.5 trillion plan by JPMorganChase to facilitate, finance and invest in industries critical to national economic security and resiliency. Part of that plan includes making $10 billion of direct equity and venture capital investments to help companies enhance growth, spur innovation and accelerate strategic manufacturing. Today, I will be discussing with Jay why JPMorgan has launched the this ambitious plan. We'll talk about the priority areas that the initiative will be focusing on and the role that private companies play in making innovation happen. Jay, thanks very much for coming on Alternative Realities.

[SPEAKER_B] Thanks for having me. Appreciate it, Aaron.

[SPEAKER_A] So before we kick off, I'd love to hear some more about your background, your career before you were tapped to lead the initiative.

[SPEAKER_B] Thanks. Well, I've been here since 2006 and I came here to help run the Power and Utility Group. Doug Patno hired me when he ran Natural Resources. Then I ran Natural Resources. Then I had a chance to help lead our North American effort and then partnered with Dorothy Blessing on the global coverage and industry effort. And then about 6 months ago, was tapped to run the Security and Resiliency Initiative.

[SPEAKER_A] Very good. Well, we have a lot to talk about, but before we get into the Security and Resiliency Initiative, I just want to set the scene. I'll read from an op-ed that Jamie Dimon wrote last year. The United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing, all of which are essential for our national security. And this struck a chord with me. So in 2021, I was running a manufacturing business. And when COVID kicked off, it became extremely challenging to get a lot of products and materials from overseas, particularly computer chips, specialty steel. We had challenges with workforce retention. A lot of folks choose to prioritize their health, leave the workforce, and challenging to get people trained up and replace those people. I think that was a wake-up call for a lot of folks in manufacturing about how vulnerable the global supply chain is. So, From your perspective, how did we get here and what are some of the big gaps you see in the supply chain today?

[SPEAKER_B] Well, it's interesting you had that firsthand experience. I think Jamie was more right than any of us could have imagined when we began this. And it's been great to see the US government, states— we've done a number of things ...

Alternative Realities: Inside JPMorganChase’s $1.5 trillion security and resiliency initiative

Transcript

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Alternative Realities: Inside JPMorganChase’s $1.5 trillion security and resiliency initiative

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.