J.P. Morgan Looks to Sustainability, Fintech for Wealth Management Growth

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J.P. Morgan

J.P. Morgan provides financial services worldwide including investment banking, markets & investor services, treasury services, investment management, private banking, and wealth management & brokerage services.

With roots dating back to 1871, J. Pierpont Morgan and Philadelphia banker Anthony Drexel formed a private merchant banking partnership in New York City called Drexel, Morgan & Co., which evolved into J.P. Morgan. By 1893, the newly formed company was the primary financier of US railroads.

An active supporter of sporting events, the investment services giant has sponsored the US Open Tennis Championships for 35 years

The 33rd running of the J.P. Morgan Corporate Challenge Championship in Central Park attracted 156 qualified runners from 39 companies representing the top men’s, women’s and mixed teams from 13 cities across 7 countries.

As big banks strive to make money, they are also reinventing themselves as a new breed of automated investment platforms. To facilitate growth, parent company JPMorgan Chase has formed a strategic relationship with InvestCloud, a California-based fintech firm. The partnership will enable J.P. Morgan to expedite the launch of new online investing capabilities by coupling the firm’s wealth management expertise with InvestCloud’s innovative technology solutions.

JPMorgan Chase also made an equity investment in InvestCloud, strengthening the alliance and further demonstrating its commitment to digital transformation in financial services.

“Across the wealth spectrum, our clients are increasingly engaging with us digitally,” said Mary Callahan Erdoes, CEO of Asset Management for JPMorgan Chase. “We have been managing wealth for more than 200 years. Pairing these new technological capabilities with our trusted guidance will help our clients achieve their long-term financial goals with flexibility in how they interact with us and our advisors.”

J.P. Morgan notably participates in community outreach endeavors, including relief efforts for flooding in New Orleans and the water crisis in Flint, Michigan.

These moves are consistent with JPMorgan Chase’s corporatewide “Environmental and Social Policy statement” pledging to transition away from financing coal-mining operations in high-income countries of the Organisation for Economic Co-operation and Development (OECD). “We believe the financial services sector has an important role to play as governments implement policies to combat climate change,” reads the corporate announcement .

JPMorgan Chase plans to invest billions in conservation. For example, it was founding sponsor of a collaboration with The Nature Conservancy to grow the conservation finance marketplace called NatureVest.

J.P. Morgan was the first US bank to announce results since Britain voted on June 23 to leave the European Union, a vote that helped push the financial services firm’s fixed-income trading revenue up 35 percent last quarter.

But perhaps most indicative of the legacy brand’s evolution, the buttoned-up firm recently told its more than 200,000 employees that Fridays would now follow a business casual dress code.

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