Latest news with #TimBerry
Epoch Times
23-04-2025
- Business
- Epoch Times
JPMorgan to Expand Office Space in Downtown San Francisco
JP Morgan is overhauling and expanding its downtown San Francisco offices after committing to play a role in revitalizing the city's downtown economy, which has suffered in recent years. The bank announced in a statement on Monday that it will renovate and expand its offices, located at 560 Mission Street and One Front Street, the latter of which had a lease set to expire in June. The renovated Mission Street office, which is to be renamed JPMorganChase Center in place of the old JPMorgan Chase Building, will be increased to 280,000 square feet and become the local headquarters for the firm and function as the office for more than 1,600 employees. The additions represent an overall 65,000 square feet increase. The firm states as its goal to make the offices cutting-edge workplaces for both employees and clients, and will include prayer and maternity rooms, as well as a pantry and collaborative workspaces, state-of-the-art technology, and high-end furniture. JPMorganChase has almost 7,000 employees in the Bay Area, according to the firm's statement. 'San Francisco is a key growth market for JPMorganChase and we have been hard at work with local leaders, partners, and clients to understand how we can best deploy our resources and expertise to power continued economic growth across the city,' said Tim Berry, global head of corporate responsibility for JPMorganChase. Berry also said the firm is working with local stakeholders to revitalize San Francisco's downtown. Related Stories 4/22/2025 4/22/2025 The bank devoted $3.8 million, at least some of which in the form of loan capital and technical assistance, to support the city through its support of the Bay's downtown economy, small businesses, and efforts to attract residents and visitors back to the downtown area. 'Through our business and philanthropy investments, we are creating over $1.2 billion in economic growth for San Francisco to boost the downtown economy, support local businesses, create jobs, and bring workers, residents and visitors back to the city,' Berry said. San Francisco Mayor Daniel Lurie said JPMorganChase's commitment signals that the city is bouncing back after a period of stagnation that included crime and a homelessness crisis in the downtown area. 'By renaming and renovating 560 Mission as the JPMorganChase Center, they're making a clear bet on our city's future,' Lurie said. 'My administration is focused on creating the conditions for growth downtown—through safer, cleaner streets and reforms to make permitting faster. The message is getting out, and San Francisco is on the rise.' The firm's office first opened in 2002 and includes a fitness center, cafe, as well as a dining area for building tenants. The company is partnered with other companies, like Downtown Volunteer Coalition, with a goal of revitalizing the downtown area. JPMorgan positions its revitalization as part of a San Francisco-wide effort to bring downtown San Francisco back from a period of stagnation. The multinational firm cites a study by Vista Site Selection which demonstrated that JPMorganChase's employees and business in the Bay Area are worth $1.2 billion each year for San Francisco's economy. 'JPMorgan is investing again in San Francisco,' Lurie posted on social media. 'As one of the largest employers in SF, they are now investing $3.8 million into our city. This is more than just a commitment—it's a vote of confidence in San Francisco.' The news comes just months after JPMorgan announced it would vacate office space in San Francisco used by First Republic Bank, which JPMorgan purchased after it had been seized by regulators due to financial distress, resulting in the second-largest bank failure in U.S. history. The firm's plan to dump 70 percent of its space in the downtown San Francisco tower was reported by CoStar, a commercial real estate information provider. It appears those plans have changed. Downtown San Francisco's office vacancy rate was 34.7 percent in Q1 2025, an increase of 33 percent from the year prior, though there are signs of a possible recovery in the city's commercial real estate market. San Francisco's tourism industry, as well, has not recovered from the effects felt by all major cities from the COVID-19 pandemic. At the start of 2019, San Francisco had 85 percent monthly occupancy rates at its hotels. That number stands at around 67 percent in early 2025. The city is lagging behind other cities when it comes to office attendance. During the week of April 2, weekly average office attendance was 42 percent. Meanwhile, Los Angeles saw 49 percent; Austin, 63 percent; New York, 54 percent; and San Jose, 50 percent. Unemployment has been on the rise in San Francisco. In May 2022, unemployment stood at 2.3 percent. Today, that number is 3.8 percent, according to city data. Much of the job losses come from the tech industry. The finance and insurance industries combined employ approximately 55,000 people in the city.
San Francisco Chronicle
21-04-2025
- Business
- San Francisco Chronicle
JPMorgan commits $3.8 million to boost downtown S.F., expands office
JPMorgan Chase is committing $3.8 million in local philanthropic support this year to boost downtown San Francisco, while also expanding and renovating its local offices. The banking giant said Monday it would provide funding for small business loans and help them fill empty storefronts. The bank is supporting the downtown pop-up openings of Mexican restaurant Al Pastor Papi, clothing store Nooworks and art studio Craftivity through the Vacant to Vibrant program. JPMorgan renewed its lease at 560 Mission St. and expanded by 65,000 square feet to almost 280,000 square feet, with space for over 1,600 employees. The building, owned by CommonWealth Partners, will be renamed to JPMorganChase Center. The company is also retaining 125,000 square feet at One Front St., the former offices of First Republic Bank, which JPMorgan acquired in 2023. The bank called employees back to the office five days a week starting in March. The offices will be renovated with new collaboration spaces, a pantry and prayer and maternity rooms. New signs will be installed at 560 Mission St. The renovation is expected to create almost 500 construction jobs. 'San Francisco is a key growth market for JPMorganChase and we have been hard at work with local leaders, partners, and clients to understand how we can best deploy our resources and expertise to power continued economic growth across the city,' said Tim Berry, JPMorgan's global head of corporate responsibility, in a statement. The bank has nearly 7,000 employees in the Bay Area and is also part of the Downtown Volunteer Coalition and supports Advance SF's Clean & Safe Streets Program and the SF Chamber of Commerce's Safety Workshops Initiative. It also confirmed the return of its Healthcare Conference to Union Square in January 2026. In the Bay Area, the company plans to open seven Financial Centers, bank branches geared towards high net worth investors, this year. Its first local Financial Center opened last October at 111 Pine St. 'JPMorganChase is showing the kind of partnership San Francisco needs," said Mayor Daniel Lurie in a statement. 'My administration is focused on creating the conditions for growth downtown — through safer, cleaner streets and reforms to make permitting faster. The message is getting out, and San Francisco is on the rise.'
Yahoo
19-02-2025
- Business
- Yahoo
JPMorganChase Expands Hiring in Maryland Offering Flexible Careers for Military Spouses
Forty local military spouses join JPMorganChase's newest Virtual Call Center cohort ANNAPOLIS, Md., February 19, 2025--(BUSINESS WIRE)--Today, JPMorganChase welcomes to its Maryland-area Virtual Call Center a new cohort of employees who are military spouses residing within a 90-mile radius of Baltimore. This latest investment, which will initially create 40 jobs, deepens the firm's 130-year presence in the Greater Baltimore region while working to address the high unemployment rate among military spouses. In partnership with the Department of Defense's Military Spouse Employment Partnership (MSEP) and Hiring Our Heroes, JPMorganChase is advancing innovative solutions to create flexible career pathways for military spouses. This newest cohort builds on the firm's successful virtual call center model launched in communities around the country including Baltimore, Atlanta and Detroit. "This initiative reflects our commitment to addressing the needs of military families through innovative workforce solutions that create well-paying jobs and promote career growth opportunities," said Tim Berry, Global Head of Corporate Responsibility & Chairman of the Mid-Atlantic Region for JPMorganChase. "We're proud to make this announcement alongside the Department of Defense and Hiring Our Heroes here in Maryland – a state with a vibrant military and veteran community that shines with exceptional talent and skill." "When I deployed to Afghanistan, I learned that military families sacrifice everything so their loved ones can serve. They are just as much a part of the American story as those who wear the uniform of this country," said Gov. Wes Moore. "Our administration is committed to making Maryland the best state in the nation for military families, and this new call center supports that vital mission. I applaud our partners at JPMorganChase for putting military families first. Together, we will leave no one behind." "In Maryland, our military families aren't just appreciated – they're necessary," said Maryland's First Lady Dawn Moore. "As the spouse of someone who served in combat, I know the challenges that military spouses face firsthand. I want to thank our partners at JPMorganChase for standing up this new call center that will create new jobs, grow our economy, and uplift military families for years to come." This hiring effort directly addresses the fact that unemployment among military spouses is disproportionately high due to frequent relocations and limited access to local job markets. According to Hiring Our Heroes, military spouses face unemployment rates upwards of 22%, well above the national average. JPMorgan Chase is a co-founder of the Veteran Jobs Mission, a coalition of more than 300 companies dedicated to employing talent from the U.S. military community. Since 2011, the Firm has hired more than 18,000 veterans and currently employs more than 3,100 military spouses. "The expansion of the JPMorgan Chase virtual call center program is a significant step in providing meaningful career opportunities for military spouses, empowering families to thrive and achieve stability," said Secretary Anthony Woods, Maryland Department of Veterans and Military Families. "This initiative aligns with our commitment to making Maryland the best state for veterans and military families, creating lasting opportunities to impact their lives and strengthen our communities positively. In addition, along with the Families Serve Act, which aims to provide hiring opportunities for military spouses, we can address one of many challenges military spouses face—difficulty finding and maintaining steady employment due to frequent relocations caused by military life." "At JPMorganChase, we recognize the unique challenges faced by military spouses and are committed to creating meaningful career opportunities that empower them to thrive both personally and professionally," said Mark Elliott, global head of Military & Veterans Affairs, JPMorganChase. "A service member's journey impacts the entire family unit, which is why we are proud to support military families through innovative solutions like our virtual call center model – providing flexible pathways tailored to their needs." These virtual call center positions are full time, home-based roles offering the flexibility needed for military families to maintain employment regardless of potential relocation scenarios. The idea of a virtual call center was originally developed by Chase Operations leaders in 2022 to expand the availability of customer service careers to communities where talent exists, but the opportunity hasn't been available without a traditional call center site. "With how often the military moves families, job portability has always been our biggest challenge," shared cohort member Christine Abbott. "When our service members are called to do a job, we as spouses are left to fend for ourselves, and our careers are jolted to a halt. It means so much for JPMorgan Chase to recognize the talent, resilience, experience, and flexibility that spouses possess. Allowing us to carry these qualities into the financial services industry will change our lives for the better." "We've seen tremendous results with our virtual call centers around the country and we're excited to welcome our newest employees to the team here in Maryland," said Mike Ashworth, Chief Operations Officer for Consumer & Community Banking at Chase. "Military spouses bring unique skills and perspectives to the workplace that will only enhance our ability to provide the highest quality service to our customers." JPMorganChase now operates virtual call centers in Baltimore, Detroit and Atlanta, creating more than 200 jobs offering competitive pay, benefits and career advancement opportunities. These employees will be paid no less than $22.50/hour and receive an annual benefits package including healthcare worth about $16,000. About JPMorgan Chase's Office of Military & Veteran Affairs Established in 2011, JPMorganChase's Military & Veterans Affairs supports service members, veterans and their families. Since its inception, the firm has hired over 18,000 and played a foundational role in establishing the Veterans Job Mission – a coalition of more than 300 companies working to hire 2 million veterans by 2032. Military & Veterans Affairs has also led veteran housing solutions by facilitating mortgage-free homes for more than 1,000 veterans and their families. About JPMorganChase in Greater Baltimore JPMorganChase has served the Greater Baltimore community for more than 130 years. The firm has supported the placement of more than 12,000 local residents into apprenticeships, full-time, or part-time positions and the participation of more than 5,800 individuals in job training programs aligned with high-demand industries. Since 2019 the firm has committed $16.9 million in philanthropic capital to the region where it serves as the bank of choice for more than 35,000 small business clients and 574,000 consumer banking customers. To support wealth-building and economic development, JPMorganChase committed to investing $20 million in philanthropic capital and flexible-low cost loans in Baltimore by 2027. About JPMorganChase JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorganChase had $4.0 trillion in assets and $345 billion in stockholders' equity as of December 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 JPMorgan Chase & Co. is available at View source version on Contacts Kevin Boland - Justin Page -
