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JPMorgan hires former SVB exec to lend to Silicon Valley startups

News Snapshot:

JPMorgan Chase (JPM) is turning to a top former Silicon Valley Bank executive for help lending to startups. The nation's largest bank on Tuesday announced the hiring of John China, who spent 27 years working for Silicon Valley Bank and its parent company SVB Financial. Most recently he was president of SVB Capital, the parent company's venture capital unit. Silicon Valley Bank was seized by regulators on March 10. Its parent company filed for bankruptcy one week later. SVB Capital had $9.5 billion assets under management, according to a March 19 bankruptcy court filing. China will co-head JPMorgan's innovation economy…

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