What to Know
- JP Morgan Chase is expanding into the Philadelphia region.
- The expansion of its retail network includes plans to add about 50 branches, 100 ATMs and 300 new employees over five years.
- “The Delaware Valley is a critically important market to our branch expansion and growth as a firm,” JPMorgan CEO Jamie Dimon said.
In a move that is sure to shake up an already crowded competitive landscape, JPMorgan Chase, the nation’s largest bank, will announce Monday the expansion of its retail network into the Philadelphia region, with plans to add about 50 branches, 100 ATMs and 300 new employees over the next five years.
“The Delaware Valley is a critically important market to our branch expansion and growth as a firm,” JPMorgan Chairman and CEO Jamie Dimon said in a statement. “We already have thousands of employees here that serve our customers every day. With new branches and investment in the region, we’ll create more jobs and opportunity for those locally, while building deeper relationships with customers and establishing new ones.”
Dimon, who is not being made available for interviews, will be speaking Monday at a World Affairs Council of Philadelphia luncheon in Center City.
Coinciding with the retail branch expansion, Chase will also invest $5 million to revitalize the Kensington Avenue commercial corridor and partnering with the University of Delaware on Spectrum Scholars, a college-to-careers program for students with autism who want to study computer science or electrical and computer engineering.
Find out more about the plans at the Philadelphia Business Journal.
For more business news, check out pbj.com.
