JP Morgan To Expand Its Women In Finance Group

Editorial Staff

28 September 2018

JPMorgan Chase & Co is expanding the reach and funding of a group established to promote women working inside the bank, and to help female clients, including entrepreneurs and individuals, reports have said. Women in wealth is a very prominent topic, as many financial services firms are deciding to stand up and make a difference, as reported by this publication.

According to Reuters, the bank said it is backing the group with a full-time director and resources to promote savings by women, and providing $10 billion of loans to women-owned businesses.

“We are going to continue to focus on employees to make sure we have more women in senior positions, but the extension is around clients and providing access to capital,” Samantha Saperstein, the JPMorgan managing director of the group, Women on the Move, said in an Reuters interview.

The move comes as a number of big banks have publicized their aspirations to have more women executives. In August, Citigroup said it aims to lift its share of women in mid- and senior-level executive positions to 40 per cent by 2021 from the current 37 per cent.

In March, Goldman Sachs Group said that it was committed to having women account for 50 per cent of employees globally “over time.”

This publication has contacted the firm, and will update in due course.