M
ichelle Herrick, a Chicago-based executive, has risen through the ranks in the male-dominated banking industry. She joined JP Morgan in 2017 as head of its commercial real estate division's central region, spanning from Atlanta to Seattle. Her territory expanded rapidly, and by January, she will oversee the entire US division, reporting directly to John Simmons, JPMorgan's head of commercial banking. Herrick's new role includes agency lending, community development banking, commercial term lending, and real estate banking.

    Despite her growing responsibilities, Herrick remains based in Chicago, where she has made a significant impact. She helped secure a $549 million construction loan for Salesforce Tower, one of the city's largest financing deals in 2020. Herrick also founded Yield Chicago, a program aimed at increasing diversity among developers in the city.

    JP Morgan's head of Real Estate Americas, Chad Tredway, has praised Herrick as "almost a brand," citing her ability to attract clients and drive business growth. As a mother of three in her early 40s, Herrick is breaking the mold of banking executives and showing no signs of slowing down. She will take on her new role at a challenging time for the commercial real estate sector, but JP Morgan's strategy remains focused on remaining an active lender despite high interest rates and market uncertainty.

    Herrick believes that the bank's approach starts with serving clients' needs rather than focusing solely on debt exposure. With a recent rate cut from the federal reserve potentially paving the way for more cuts, Herrick may be stepping into her new position at a critical moment in the industry's history.