MEDA Members’ Corner: Doug Krinsky
Doug Krinsky, Relationship Executive, J.P. Morgan Government Banking
Explain your background in economic development
With its fortress balance sheet, J.P. Morgan’s Commercial Bank buys bonds from economic development organizations, and holds those bonds until maturity. This long-term dedication to the needs of governmental entities illustrates J.P. Morgan’s mission of doing first-class business in a first-class way. Plus, as a three-decade Dow Jones Industrial Average component, we work with fierce resolve to make this a company of which our customers, employees, shareholders, and communities can be proud.
What are your key priorities within your current position?
To help Maryland governmental entities reach their operational, banking, and fiscal goals through efficient, resilient, safe, and advanced solutions.
Does one particular project spark your excitement? If so, describe it below.
Our branch expansion into the Mid-Atlantic is a continuation of a story which began 134 years ago, when in 1887, J. Pierpont Morgan organized a syndicate to finance the reorganization of the Baltimore & Ohio Railroad. Today, we have over one dozen Maryland branches (with more planned), hundreds of employees who reside and work in the state, tens of thousands of business customers, plus over one million consumer customers in the state.
What professional pressures keep you up at night?
Ensuring Maryland governmental entities arm themselves with cyber security and fraud education, training, and protections. Our firm spends over $12 billion annually to develop and deliver world-class technology to our more than 1,897 government client in 40 states.
What attributes are unique to your community?
We’re undertaking significant, long-term, and coordinated efforts to expand access to opportunity for more people. These include bringing our business, data, and expertise to support our employees and communities around the world. We announced a $500 million, five-year initiative to invest in solutions that bolster the long-term vitality of the world’s cities. In Greater Washington, we want to create a regional economy that benefits everyone. Areas include jobs, skills, small business expansion, neighborhood revitalization, and more.
What are your locality’s top three “selling points” for future growth?
1. Opening a retail branch in Baltimore’s Cherry Hill neighborhood
2. Funding non-profits developing D.C.’s 11th Street Bridge community
3. Providing an affordable housing construction loan in St. Mary’s County
If you could wave a magic wand, what would you want to work with MEDA on to move Maryland forward?
For MEDA members to learn about our $30 billion Path Forward commitment to advance racial equity. By harnessing our expertise in business, policy, and philanthropy, the firm made a five year commitment to drive an inclusive recovery, support employees, and break down barriers of systemic racism. We’re addressing that through affordable housing, minority-owned businesses, financial health, and workforce diversity.
Is there anything else you’d like to share with MEDA and your fellow members?
If you have banking, treasury, fiscal or other needs, you have our executive level commitment to utilize the full resources of our organization.
Please include any personal background information that you’d like to share (Alma mater, Military Service, hobbies, etc)
I’ve lived in Baltimore County for 25+ years, recently moved to Lutherville, and am truly excited to get to know MEDA’s members!