Investing.com -- Madhu Namburi, a long-standing technology banker at JPMorgan Chase & Co. (NYSE:JPM), is set to leave the financial institution after a 25-year tenure. Namburi held the position of global chair of technology investment banking until his upcoming departure in August.
The news of Namburi’s transition was confirmed through a memo seen by Bloomberg, which was verified by a JPMorgan spokesperson.
Upon leaving JPMorgan, Namburi will join venture capital firm General Catalyst. He will serve as a managing director, co-managing the firm’s Creation fund. This fund is known for its focus on merging technology firms and establishing new ones.
General Catalyst currently has $36 billion in assets under management. The firm recently bolstered its financial position by raising an additional $8 billion in capital, according to a spokesperson from the firm.
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