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JPMorgan ( JPM ) kicks off decade-long investment push in four

sectors

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Bank also sets aside $10 billion for direct investments

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CEO Dimon calls for policy changes, fewer roadblocks

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To hire more bankers to supports initiative

(Adds shares in paragraph 3, rewrites headline and paragraph 1

to US investment details)

By Nupur Anand

NEW YORK, Oct 13 (Reuters) - JPMorgan Chase ( JPM ) on

Monday unveiled a plan to hire more bankers and invest up to $10

billion in U.S. companies considered critical to U.S. national

security and economic resilience.

The move is part of a broader 10-year $1.5 trillion

initiative to facilitate, finance and invest in industries

central to the growth of the American economy, including

defense, energy and advanced manufacturing.

Shares of the largest U.S. bank were last up 1.1% before the

bell. JPMorgan ( JPM ) said it will deploy the $10 billion through

direct equity and venture capital investments.

The announcement comes as U.S. President Donald Trump's

administration looks to modernize infrastructure and reduce

dependence on foreign supply chains, particularly in sectors

such as pharmaceuticals, semiconductors, clean energy and rare

earths.

"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," JPMorgan ( JPM ) Chairman and CEO

Jamie Dimon said.

Trump revived the trade war against Beijing on Friday,

ending an uneasy truce between the two largest economies with

promises to sharply hike tariffs in a reprisal against China

curbing its rare earths exports.

JPMorgan ( JPM ) said its new "security and resiliency initiative"

would facilitate financing and investment across four strategic

sectors: supply chain and manufacturing; defense and aerospace;

energy independence; and frontier technologies such as

artificial intelligence and quantum computing.

The firm said it had already planned to facilitate and

finance about $1 trillion over the next decade in support of

clients in these important industries, according to previously

undisclosed internal figures, but it would be increasing the

size by 50%.

The U.S. government is pursuing deals across up to 30

industries, involving dozens of companies deemed critical to

national or economic security, Reuters reported this month.

JPMorgan ( JPM ), which helped put together the government's deal

with U.S. rare earths mining company MP Materials ( MP ), said

in a recent company podcast that the bank was working with the

Trump administration to explore more such opportunities.

"We've had no less than 100 calls with clients to talk about

the MP transaction as well as what this means for other

industries," said Andrew Castaldo, JPMorgan's ( JPM ) co-head of mid-cap

mergers and acquisitions. "And we've had numerous trips down to

Washington to explore those opportunities with the government."

Dimon also emphasized the need for policy reform to

accelerate progress, citing regulatory delays and workforce

challenges.

"America needs more speed and investment," he said.

KEY INVESTMENT AREAS

The four key investment areas identified by the firm have

been divided into 27 sub-sectors ranging from shipbuilding and

nuclear energy to nanomaterials and secure communications and

will include middle-market companies as well as large corporate

clients, it added.

The bank said it would establish an external advisory

council composed of public and private sector leaders, in

addition to hiring more bankers and investment professionals.

It will also expand thematic research on supply chain

vulnerabilities and emerging technologies, leveraging its

recently launched Center for Geopolitics.