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.
J.P. Morgan Asset Management has launched the U.S. Applied Data Science Value Fund (JPIVX), incorporating a unique data science-driven investment strategy. This fund merges fundamental research with advanced data insights, leveraging machine learning to optimize portfolio construction and security selection. Managed by experienced portfolio managers, the fund benefits from J.P. Morgan's extensive proprietary data and cloud technology, aiming to deliver superior value to clients. As of September 30, 2021, J.P. Morgan Asset Management oversees $2.7 trillion in assets.
Chase recently released findings from its second digital banking attitudes study, emphasizing the growing reliance on mobile banking. Key highlights include that 73% of consumers use mobile apps weekly, a rise of 8% year-over-year. Furthermore, 93% of consumers adopted digital payment methods, with convenience being the top reason. Notably, credit monitoring services saw increased adoption, particularly among Gen Z. As of Q3 2021, Chase reported over 44 million mobile active users, a 10% annual increase.
JPMorgan Chase & Co. (NYSE: JPM) has announced dividends for its Series I, R, S, Z, FF & HH preferred stock. As of September 30, 2021, the firm holds $3.8 trillion in assets and $290.0 billion in stockholders’ equity, reflecting its strong standing in the financial services industry. Investors can find more details on dividend amounts and payment dates on the Investor Relations website. This announcement reinforces JPMorgan's commitment to returning value to its shareholders.
Chase Freedom has launched new rotating categories for Q1 2022, allowing Freedom and Freedom Flex cardmembers to earn 5% cash back on up to $1,500 in purchases on eBay and grocery stores from January 1 to March 31, 2022. This initiative aims to assist consumers in saving money post-holiday season. Cardmembers can also earn additional cash back on various other categories, including travel and dining. New cardmembers are eligible for a $200 bonus after spending $500 in the first three months.
JPMorgan Chase & Co. (NYSE: JPM) has announced a quarterly dividend on its common stock. As of September 30, 2021, the firm reported $3.8 trillion in assets and $290.0 billion in stockholders' equity. This financial services leader operates globally, providing investment banking, asset management, and consumer financial services. Investors can find more details on the firm’s performance and dividend on its Investor Relations website.
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The Chase Ink Business Premier®, launching December 14, 2021, is Chase's first Pay in Full business credit card, tailored for larger businesses. It offers unlimited 2% cash back on every purchase, 2.5% on purchases over $5,000, and 5% on travel via Chase Ultimate Rewards®. Notable features include Flex for Business for payment flexibility, no-cost employee cards, and premium benefits such as cell phone protection (up to $1,000). The card carries a $195 annual fee and new cardholders can earn $1,000 cash back on $10,000 in purchases within the first three months.
Chase has announced a £1 million investment to enhance children's literacy in the UK through improved library and reading spaces in primary schools. This initiative targets underserved communities where 1 in 4 schools lack designated reading areas. The programme aims to support approximately 35,000 children, providing them with books, e-readers, and training for teachers. This is part of Chase's broader Rewarding Futures initiative, focused on addressing significant literacy barriers and empowering families to foster reading enjoyment.
Chase has inaugurated its flagship branch in downtown Los Angeles at LA Live, marking a significant investment in the community. This innovative location features modern technology and design, aiming to serve as a hub for residents and businesses. Key offerings include a community space for events, financial health workshops, and enhanced banking services. With over 300 branches in Los Angeles, Chase continues its commitment to economic revitalization and support for underserved neighborhoods, aligning with its goal to enhance financial success for all.
Star Mountain Capital has appointed Renald “Ray” Durand as the new Director of Finance. Previously with JPMorgan Chase, Durand brings extensive experience in finance and fund administration. His addition aims to enhance Star Mountain’s finance department, which is led by Chris Gimbert. This year, Star Mountain has recruited two senior professionals from JPMorgan, indicating a trend of attracting talent from major financial institutions. The firm manages over $2 billion and focuses on small to medium-sized businesses in the North American lower middle market.