JPMorgan Chase to Add 25 Branches in Georgia in Next Three Years
Atlanta Sep 25, 2018
Bank to create 150 more jobs 10 years after entering Georgia
It has hired more than 30 new bankers and advisors this year alone
Ten years after entering the Georgia market, JPMorgan Chase announced today that it plans to add up to 25 new branches over the next three years, creating up to 150 jobs in the state. The bank entered Georgia by buying Washington Mutual in 2008.
In addition, the firm has hired more than 30 new executives, senior bankers and wealth management advisors in Atlanta this year to serve consumers, private bank clients, and small and large companies.
Chase recently hired Atlanta-based Mark Adams to lead its Consumer and Wealth Management businesses in Georgia and North Florida. He had been the Georgia market executive for Bank of America’s U.S. Trust business.
Chase serves metro Atlanta customers through 80 branches and 215 ATMs. The firm led the region in deposit growth this year as customers added $634 million to their banks accounts –four times the local industry average.
“I’m excited to join Chase as we add talented bankers and capabilities to serve our clients here,” Adams said.
Full Range of Services
The bank has added more than 200 employees in building its Private Bank, J.P. Morgan Securities, Commercial Banking, Investment Banking and Business Banking teams in the last 10 years.
This year alone, the J.P. Morgan Private Bank has hired 16 new advisors to provide wealth and investment management advice, mortgage and lending services, and trust and estate planning to successful individuals, family offices, foundations and endowments.
“Georgia’s economy is thriving and its sustained corporate and population growth has led to tremendous wealth creation,” said Mike Marino, head of the J.P. Morgan Private Bank in the Southeast. “These demographics – combined with our established client base here – make a clear case to continue to build out our team.”
The bank built a local Commercial Banking presence from scratch since buying WaMu. Today, more than 100 employees serve companies with more than $20 million in annual revenue through its Middle Market Banking and Corporate Client Banking teams.
“I’m so proud of what we’ve built here since I moved here from Detroit nine years ago,” said David Balos, market executive for Chase Middle Market Banking in Georgia and Alabama. “Our new bankers know the market and their industries, so they can to serve our clients and help them grow.”
JPMorgan Chase now has about 1,000 employees working in Georgia across all of its lines of business.
The firm has also invested in economic growth in Atlanta through its corporate responsibility programs. They have revitalized communities, helped young people gain the skills needed for high-quality jobs, expanded small businesses and promoted financial health for individuals.
In 2016, JPMorgan Chase invested $4 million in the Equity Atlanta Collaborative – a new group that brings together Access to Capital for Entrepreneurs Inc., Atlanta Neighborhood Development Partnership, and Reinvestment Fund to create or preserve over 700 affordable housing units and establish more than 1,000 jobs through small business and housing development.
Last year, the firm donated more than $700,000 to Georgia nonprofits, including $400,000 to Morehouse College to increase capital and training for minority and female entrepreneurs in Atlanta’s inner cities.
Michael F. Fusco, Michael.F.Fusco@jpmchase.com