JPMorgan Chase & Co. reports developments across a global financial services franchise operating under the J.P. Morgan and Chase brands. News commonly covers investment banking, consumer and small-business banking, commercial banking, financial transaction processing, asset management, and wealth-related services for corporate, institutional, government, nonprofit, commercial real estate and retail customers.
Company updates also include Chase product changes such as Secure Banking, quarterly reporting, commercial banking programs, philanthropic workforce initiatives, and strategic partnerships. Asset-management news includes real estate and timberland investment activity through J.P. Morgan Asset Management and Campbell Global, while broader corporate announcements cover client services, community investment and brand partnerships.
Daniel Pinto, President and COO of JPMorgan Chase & Co. (NYSE: JPM), is scheduled to present at the Barclays Global Financial Services Conference on September 13, 2022, at 10:30 a.m. (Eastern) in New York City. A live audio webcast will be accessible at www.jpmorganchase.com under Investor Relations. As of June 30, 2022, JPMorgan Chase reported $3.8 trillion in assets and $286.1 billion in stockholders' equity, making it a leading financial services firm in the U.S. and globally.
JPMorgan Chase & Co. (NYSE: JPM) has filed its Quarterly Report on Form 10-Q for the quarter ending June 30, 2022, with the SEC. As of this date, the firm reported $3.8 trillion in assets and $286.1 billion in stockholders’ equity. JPMorgan Chase is a major player in investment banking, consumer financial services, commercial banking, and asset management, serving millions of customers in the U.S. and global markets. The report is accessible on the SEC's website and the firm's Investor Relations page.
J.P. Morgan Global Alternatives has appointed Andrew Carter as Head of Private Credit Secondaries and Tim Henn as Lead Portfolio Manager for Secondaries in the Private Equity Group. Both executives bring extensive experience in their respective fields and are expected to enhance the firm’s capabilities in private equity and private credit secondaries. With the increasing demand for secondaries strategies, these hires aim to bolster J.P. Morgan’s presence in the private market investment space, reflecting the firm's ongoing commitment to expanding its alternative asset management capabilities.
On August 1, 2022, J.P. Morgan Asset Management announced a $1 million commitment to support underserved students and single mothers through its Empower Community Development Fund. This initiative aligns with the firm's broader goal of addressing racial wealth gaps. Since its launch in February 2021, the Empower share class has surpassed $6 billion in assets under management and expanded its relationships with Minority Deposit Institutions. The firm continues to invest heavily in initiatives that foster economic opportunities in underserved communities.
Summary not available.
J.P. Morgan Real Estate Income Trust, Inc. (JPMREIT) announced the effectiveness of its Form S-11 registration statement for an initial public offering (IPO). The IPO includes up to $4,000,000 in common stock across various classes and $1,000,000 for a distribution reinvestment plan. JPMREIT plans to invest primarily in stabilized income-generating properties, with a target portfolio of 75% such properties and 25% focused on refurbishment and development. Initial shares are priced at $10.00 each, with ongoing offerings based on net asset value.
Summary not available.
Chase and Instacart have launched the first-ever Instacart Mastercard credit card, offering unlimited cash back on groceries and everyday purchases. Cardmembers earn 5% cash back on Instacart purchases and travel via Chase, 2% on restaurants and gas, and 1% on other purchases. There’s no annual fee, and new users can receive a $200 credit and a year of free Instacart+. The card also provides various travel and purchase protections, making it attractive for frequent shoppers and travelers.
J.P. Morgan Global Alternatives has been re-appointed by the Florida State Board of Administration to manage a second tranche of the Florida Growth Fund. This initiative aims to develop a private equity portfolio focused on technology and growth ventures in Florida. The Fund, operating since 2009, has over $600 million invested in Florida-based funds and direct transactions. J.P. Morgan emphasizes the growth potential within Florida's economy, noting an increase in private equity sponsors in the state.
JPMorgan Chase (NYSE: JPM) has elected Alex Gorsky as a director, effective immediately. Gorsky, 62, is the Executive Chairman of Johnson & Johnson and previously served as its CEO from 2012 to 2021. His leadership significantly impacted the healthcare sector and innovation in emerging health technologies. Gorsky expressed enthusiasm about contributing to JPMorgan Chase, emphasizing the firm's role as a leader in the financial services industry. Jamie Dimon, Chairman and CEO of JPMorgan Chase, praised Gorsky's extensive experience and potential contributions.