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.
The Chase Mobile® app has been recognized as the #1 wealth management app in overall customer satisfaction, according to the J.D. Power 2020 study. Customer satisfaction increased by 18 points year-over-year, driven by enhanced features like unlimited commission-free trades and improved app navigation. Notably, account openings on J.P. Morgan's self-directed online platform surged over 400% during market volatility in March 2020. The app excelled in categories such as range of services and clarity of information, reflecting its significant impact on users' investing experiences.
JPMorgan Chase & Co. (NYSE: JPM) has appointed Reggie Chambers as the new head of Investor Relations, effective January 1, 2021. Chambers, who previously served as Chief Administrative Officer for Chase Consumer Banking, will report to CFO Jennifer Piepszak. He brings nearly 20 years of experience in financial services, including roles in management consulting and public service. Jason Scott, the previous head of Investor Relations, will transition to lead Global Technology Finance. This leadership change underscores JPMorgan's commitment to talent mobility.
The United Gateway Card from Chase and United Airlines has launched the "Gateway to Giving" campaign, donating $700,000 to Feeding America, which provides nearly seven million meals to those in need this holiday season. This initiative addresses the 60% increase in food insecurity caused by the COVID-19 pandemic, affecting over 54 million Americans. Cardmembers earn 3x points on grocery purchases. The partnership aims to encourage giving back during the holidays while supporting local food banks in seven major cities across the U.S.
JPMorgan Chase announced a £2 million philanthropic investment to support nonprofit organizations led by Black and ethnic minority leaders during the Powerlist Black Excellence Awards in London. This initiative aims to address the economic disparities exacerbated by COVID-19, focusing on job creation, skills development, and small business growth. It aligns with the firm's broader commitment to racial equity and follows a $30 billion pledge to promote affordable housing and support Black-owned businesses. Collaborating with the London Community Foundation, JPMorgan seeks to empower historically underserved communities.
Chase has launched My Chase Plan, a digital 'buy now, pay later' feature for eligible credit card users, allowing them to pay for purchases over $100 in fixed monthly installments without interest. This service aims to assist consumers during the holiday season, with 52% of respondents in a Chase survey citing budgeting for gifts as a significant challenge. My Chase Plan provides flexibility, transparency, and control over finances, with payment durations ranging from 3 to 18 months. Cardmembers can continue to earn rewards while managing their payment plans easily through the Chase app or website.
JPMorgan Chase & Co. (NYSE: JPM) has declared dividends on its Series V preferred stock. The financial services firm, with assets totaling $3.2 trillion, continues to lead in various sectors, including investment banking and asset management. This announcement is a significant move, ensuring returns for shareholders. For full details, visit the Firm’s Investor Relations website.
J.P. Morgan Asset Management has released its 2021 Long-Term Capital Market Assumptions (LTCMAs), focusing on the economic impacts of COVID-19. Growth projections show a slight increase to 2.4% globally, with developed markets at 1.6% and emerging markets at 3.9%. Inflation forecasts remain steady at 2.2%. The firm expects an era of heightened fiscal stimulus and elevated debt levels. U.S. large-cap equity returns are expected to decline by 1.5% to 4.1%, while alternative assets like infrastructure are forecasted to perform better, with global core infrastructure equity returns at 6.1%.
JPMorgan Chase has partnered with the New Voices Foundation to launch the New Voices Banking Bootcamp, aimed at empowering women of color entrepreneurs. Starting November 30 and running until December 18, the bootcamp will provide essential business banking education, helping participants master finances and improve banking relationships. The program will also offer a $10,000 award upon completion. This initiative responds to survey findings revealing that 72.86% of women of color entrepreneurs struggle with banking relationships, which severely limits their access to funding.
JPMorgan Chase & Co. (NYSE: JPM) has filed its Quarterly Report on Form 10-Q for the quarter ending September 30, 2020, with the SEC. This report provides essential updates about the firm's financial performance and can be accessed on the SEC's website and JPMorgan's Investor Relations page. With assets totaling $3.2 trillion, JPMorgan Chase operates globally, offering a range of financial services including investment banking and asset management. The firm continues to serve millions of consumers and large institutional clients worldwide.
Jamie Dimon, CEO of JPMorgan Chase & Co. will present at the Goldman Sachs U.S. Financial Services Conference on December 8, 2020, at 4:20 p.m. Eastern. The event will be held virtually, and a live webcast can be accessed via www.jpmorganchase.com under Investor Relations, Events & Presentations.
JPMorgan Chase, a prominent financial services firm, boasts $3.2 trillion in assets and serves millions globally. The firm is also part of the Dow Jones Industrial Average and offers a wide range of financial services.