April 21, 2017 (U.K.) – J.P. Morgan today announces Her Majesty The Queen has selected the firm as winner of the Queen’s Award for Enterprise for Promoting Opportunity.
The bank’s Aspiring Professionals Programme, run in partnership with the Social Mobility Foundation, has been recognized for enhancing social mobility for students from low-income backgrounds in the U.K. The programme opens doors for students who otherwise may not have exposure to careers in professional services or finance.
The programme targets high-achieving secondary school students from low-income backgrounds to take part in a two-week work placement at the bank’s London offices across revenue-generating businesses. Each student also receives mentoring with a J.P. Morgan employee for a full year after the residential programme to support them in their university applications.
Whilst the programme focuses on short-term work experience and mentoring, more than 30 alumni have graduated to earn places on J.P. Morgan’s ultra-competitive Spring Week and internship programmes. Two alumni from the class of 2012, the programme’s inaugural year, were recently offered full time positions at the bank.
The JPMorgan Chase Foundation financially supports the Social Mobility Foundation in its selection of the students for the Aspiring Professionals Programme and support after the programme including university visits and skills workshops.
Jamie Dimon, Chairman and CEO of JPMorgan Chase & Co. said:
"By providing experience, skills and industry insight to young people from low-income families through the Aspiring Professionals Programme, we help to break down the barriers that might prevent some of the brightest and most diverse people from realizing their ambitions."
"Our greatest asset is our people. And we will continue to focus on attracting, retaining and motivating the highest quality workforce drawn from the broadest possible pool of talent. We will do this by creating an open environment that cuts down on bureaucracy and builds up morale so we can operate like a partnership "
Radhika Chandarana, Aspiring Professionals Programme alumna and full-time employee at J.P. Morgan said:
"The Aspiring Professionals Programme has been invaluable to my career development. From the day I walked through the door in 2012, J.P. Morgan and the Social Mobility Foundation has supported me every step of the way."
"Before the programme I had the perception that a career in banking and finance was impossible for ambitious students from my background. But the programme has opened doors to a dream career path and I’m so excited about my future at the bank."
The 2017 awards, published to mark Her Majesty The Queen’s 91st birthday on 21st April, contains 176 companies ranging from local businesses to multinational institutions.
J.P. Morgan receives the accolade in the inaugural year of the Promoting Opportunity category. The other categories are Innovation, International Trade, and Sustainable Business. Organized by the Department for Business, Innovation and Skills, each category has a judging panel which makes a recommendation to the Prime Minister’s Advisory Committee. The committee then makes a final recommendation to Her Majesty The Queen, who decides the winners.
The Queen’s Awards for Enterprise are widely regarded as the most prestigious business awards in the country and 2017 marks the 51st anniversary of the scheme.
J.P. Morgan has received government recognition for four consecutive years in the U.K. Government’s State of the Nation Report. The Aspiring Professionals Programme was called out as an example of best practice as a programme that enhances social mobility.
Through several targeted philanthropic initiatives including the Aspiring Professionals Programme, JPMorgan Chase is investing over $325 million in skills development around the world to help provide real and tangible pathways to economic opportunity.
In a recent editorial in The Daily Telegraph newspaper, David Lomer, J.P. Morgan’s Co-Head of Mergers & Acquisitions for Europe, the Middle East and Africa, spoke about the importance of social mobility to U.K. economic success and the bank’s talent pipeline.
About J.P. Morgan’s Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $20.5 trillion of assets under custody and $390.8 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at www.jpmorgan.com.