JPMorganChase Unveils Expansion Plans in South Florida
June 21 2024 - 10:31AM
Business Wire
Bank to double its downtown Miami office space
and add new office location in West Palm Beach
- Firm adding capacity for 400 additional employees at Brickell
office location
- Study shows JPMorganChase contributes $1.93 billion annually to
the region’s economy, stimulating an additional 5,300 local
jobs
- Miami office projects will create more than 380 local
construction jobs annually
- Firm opening new West Palm Beach office and three J.P. Morgan
-branded branches in Palm Beach County next year
JPMorganChase today unveiled renovation and expansion plans for
its Brickell office location in Downtown Miami, and announced it is
opening a 13,000 square foot office in West Palm Beach, reinforcing
the firm’s commitment to South Florida as one of its key strategic
regions in the country. The firm’s expansion of its South Florida
footprint is expected to trigger an average of $151 million in
additional economic activity for South Florida and support about
380 local construction jobs per year during the construction
period.
The firm’s downtown Miami office will double in size from 80,000
square feet to 160,000 square feet in part to accommodate 400
additional employees. The office currently includes more than 500
employees across all of JPMorganChase’s lines of business and
functions. The two-year project will also renovate and expand the
firm’s Miami Client Center to create a world-class meeting and
function space to host client and employee events. This investment
in the Brickell office includes refurbished work floors with
state-of-the-art technology and furniture, updated meeting rooms,
common spaces, restrooms and pantry areas.
In addition, the firm will open a new 13,000 square foot office
in West Palm Beach at 360 Rosemary to bring together more than 60
employees across many of its lines of business and functions who
were previously sitting in a number of locations across Palm Beach
County.
“Miami and South Florida are home to an increasing number of our
clients, customers, community partners and employees, and a
strategic location for our operations in Latin America as well,”
said Jonathan Bello, head of Chase for Business Miami and
co-chair of the firm’s South Florida Market Leadership Team.
“Like our investment with Inter-Miami CF to create Chase Stadium,
these expansions reflect the opportunity that this area represents
as well as our commitment to be the bank for all in South
Florida.”
JPMorganChase is one of the region’s largest private employers
with more than 3,000 local employees. An independent third-party
study found that through the firm’s thousands of local employees
and operations, JPMorganChase contributes $1.9 billion in annual
economic activity to South Florida, stimulating an additional 5,300
jobs across several local industries.
J.P. Morgan Financial Centers Coming to South Florida
In addition to its corporate office expansions, the firm will be
opening three J.P. Morgan Financial Centers in Palm Beach, Jupiter
and Palm Beach Gardens early next year. These locations are among
more than 20 J.P. Morgan Financial Centers to be opened across the
country. Many of these locations were previously First Republic
offices that will be converted into an entirely new experience,
leveraging First Republic’s existing branch format – open meeting
space and large living rooms, private meeting spaces and board
rooms, and a signature library.
“These new centers will serve clients across banking, lending
and wealth, and will offer the best of both worlds – the strength
and scale of JPMorganChase and First Republic's commitment to
exceptional client service,” stated Jen Roberts, CEO of Chase
Consumer Banking.
Expanding throughout Florida
In addition to its growth in South Florida, the firm is also
adding new offices in Melbourne, Sarasota and Fort Myers, and is in
the midst of executing a significant investment in its Tampa
Corporate Center offices. In his recent annual letter,
JPMorganChase CEO and Chairman Jamie Dimon highlighted the firm’s
commitment to empowering economic growth throughout Florida. The
firm’s 16,400 employees statewide work across all lines of business
– Commercial and Investment Banking, Consumer and Community
Banking, and Asset and Wealth Management – as well as its major
corporate functions, including Technology, Service and Operations,
Human Resources, Legal, and others.
The firm serves more than 6.2 million consumers and 678,000
small businesses through more than 400 local branches Florida-wide.
Over the last three years, the firm has made more than $46 million
in philanthropic and business investments in South Florida and
nearly $65 million statewide to increase homeownership
opportunities, accelerate wealth creation, help small businesses
grow, and expand financial health for residents. Most recently, as
part of its $10 million Tech Equity commitment in Miami, the firm
announced a $1 million philanthropic commitment to Florida Memorial
University to expand its technology programs.
About JPMorganChase
JPMorganChase (NYSE: JPM) is a leading financial services firm
based in the United States of America (“U.S.”), with operations
worldwide. JPMorgan Chase had $4.1 trillion in assets and $337
billion in stockholders’ equity as of March 31, 2024. The Firm is a
leader in investment banking, financial services for consumers and
small businesses, commercial banking, financial transaction
processing and asset management. Under the J.P. Morgan and Chase
brands, the Firm serves millions of customers in the U.S., and many
of the world’s most prominent corporate, institutional and
government clients globally. Information about JPMorganChase is
available at www.jpmorganchase.com.
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