JP Morgan invests 4.3 million euros in skills development for young people and the long-term unemployed in Paris

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PARIS–(COMMERCIAL THREAD) – Today, JP Morgan has deployed more than 4.3 million euros to connect the young and the long-term unemployed in vulnerable communities in Paris with the skills needed for stable and well-paying careers. Building on the company’s existing investment in the future of work and as part of its $ 30 million commitment to Greater Paris, JP Morgan will provide people with the opportunity to acquire sought-after skills that will make them feel better. will better prepare for jobs in the modern economy, which is going through significant changes.

The announcement is made in anticipation of the inauguration of the firm’s expanded office in Paris on Tuesday, June 29 by the President of the Republic – Emmanuel Macron, in the presence of Minister of Economy, Finance and Recovery – Bruno Le Maire. The opening of the office follows the Choose France Summit in the presence of Chairman and CEO of JPMorgan Chase – Jamie Dimon.

The COVID-19 crisis has disproportionately affected disadvantaged communities like those of Seine-Saint-Denis. As part of JPMorgan Chase’s efforts to support collective solutions that contribute to an inclusive recovery, this new commitment is helping prepare some of the people who need it most to succeed in jobs in digitally driven industries and those who need it most. support major infrastructure projects.

Viswas Raghavan, CEO EMEA for JP Morgan, said, “COVID-19 threatens to leave people who have previously faced barriers to opportunity in low-income, high-unemployment communities. Access to rewarding and stable jobs is a crucial first step in removing these obstacles to an inclusive recovery. ”

JP Morgan’s new € 4.3 million investment will focus on:

  • Learning: Connect young people from disadvantaged backgrounds with internships that allow them to learn on the job.
    • In collaboration with organizations including Sport in the City, Mozaïk Foundation and JobIRL, JP Morgan will help the young people of Seine-Saint-Denis to take the first step towards stable careers through apprenticeships and other training and placement opportunities that help increase their employability.

  • Rise in digital skills: Supporting young people – faced with unprecedented levels of unemployment – with the digital skills necessary for the economy of tomorrow.
    • In line with the government’s digital skills agenda, JP Morgan partners with organizations such as Konexio and E2C support the offer of digital training efforts for young people.

  • Upgrading the long-term unemployed: Prepare long-term unemployed adults with the skills to enter and return to the labor market.
    • Work with organizations, including ARES, Moulinot and WeTechCare, JP Morgan will help train and then employ people who have been out of work for an extended period. These efforts will combine improving digital and financial management skills with practical work experience to develop skills in demand for growing sectors of the labor market, including the green economy sector.

Expansion in Paris

JP Morgan’s continued investment in the local community comes as the company has relocated 140 employees to Paris, as part of its European-wide Brexit strategy. By the end of 2021, a total of 440 people will have joined the Paris office, including some local recruitments. Colleagues who have made the transfer so far come from 32 nationalities at all seniority levels, working primarily in sales and negotiation roles.

Many of these new employees in Paris will work in the company’s expanded offices – a seven-story building that can accommodate up to 450 people. It is located at 21 Place du Marché Saint-Honoré, in the heart of the 1st arrondissement of Paris, and adjoins its French headquarters in the Hotel de la Fare at 14 place Vendôme. By the end of 2022, the Parisian offices of JP Morgan will have a total of 800 employees.

Kyril Courboin, CEO France, JP Morgan, said: “We are delighted to see more of our colleagues joining us in Paris, working in one of the most diverse and dynamic offices we operate in the world. The city of Paris has been very welcoming to them, and many have already commented on the quality of life here.

The newly opened building includes amenities including a cafeteria, 15 meeting rooms and 100 bicycle spaces. In accordance with the company’s commitment to operational carbon neutrality, the building is connected to the Paris district cooling network, which uses geothermal energy.

About JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services company with $ 3.7 trillion in assets and operations worldwide. The company is a leader in investment banking, personal and small business financial services, commercial banking, financial transaction processing and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of clients in the United States and many of the world’s largest private, institutional and government clients under its JP Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

About JP Morgan in Paris

JP Morgan was the first foreign bank to set up in France in 1868. Today, the bank offers corporate and investment banking, private banking and asset management services. The company also recently launched a new line of international commercial banking business dedicated to serving medium-sized businesses, supported by several newly hired bankers in Paris.

To expand access to opportunities for residents and entrepreneurs of Seine-Saint-Denis and other communities facing poverty and unemployment, JP Morgan is investing $ 30 million over five years in Greater Paris as part of his AdvancingCities program and uses lessons learned from other investments he made in Detroit, Chicago and Washington, DC

To date, JP Morgan has deployed $ 14 million of the total commitment of $ 30 million, enabling more than 11,000 people to access career awareness and preparation programs, 523 people participating in programs hands-on training and skills building, 5,636 micro-entrepreneurs were assisted during COVID-19 and 260 small businesses received capital, mentorship and technical advice.

JP Morgan works closely with local nonprofit, government and business leaders to support small business growth and local workforce development initiatives. The firm signed the Business for Inclusive Growth (B4IG) coalition agreement, launched by President Macron, as part of the 2019 G7 in Biarritz.

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