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Expansion follows the firm’s recent $24 million investment in Philadelphia to strengthen shipbuilding, skills training, and local small business suppliers – reflecting JPMorganChase’s broader, long-term commitment to the city
PHILADELPHIA
October 13, 2026
JPMorganChase today announced plans to relocate many of its Philadelphia employees to a newly renovated office at 2400 Market Street beginning in early 2028, marking a significant investment in downtown Philadelphia and in the firm’s employees.
The firm will occupy the entire fifth floor, accommodating up to 370 employees. Over the next 18 months, JPMorganChase will renovate the space to create a modern workplace for employees and a dynamic client center.
“Growth is imminent, and we are investing ahead of it,” said Colin Wetherill, J.P. Morgan Private Bank Mid-Atlantic Head of Investments and Advice. “Our Private Bank headcount has doubled over the past five years, and we intend to double it again over the next five. This expanded team reflects increasing demand for the wealth management services we provide, and it reinforces our commitment to serving clients with local expertise and convenience through our new Client Center at 2400 Market Street.”
The move underscores JPMorganChase’s long-term commitment to Philadelphia, bringing employees from across the firm’s lines of business under one roof and fostering greater collaboration and innovation. The new space will serve as a hub for the firm’s continued growth in the region, supporting clients across Wealth Management, Commercial and Investment Banking, Consumer and Business Banking. The firm plans to add more than 150 new jobs over the next several years across all lines of business.
“This expansion reflects our long-term commitment to Philadelphia and our confidence in the region’s economic future,” said Stephen Wright, J.P. Morgan Private Bank Managing Director and Co-Chair of the Delaware & Philadelphia Market Leadership Team at JPMorganChase. “By bringing teams together in a dedicated, modern space designed to scale, we are strengthening collaboration, enhancing the employee experience, and positioning our businesses to continue serving clients and communities across the region.”
Through its more than 600 local employees and operations currently in the Philadelphia area, JPMorganChase contributes more than $400 million annually to the local economy, stimulating an additional 500 jobs across area industries. In addition, the renovation of its new office at 2400 Market Street will contribute an additional $100 million to the local economy over the next two years, creating more than 200 construction jobs.
“Long-term investments create opportunities for residents and strengthen Philadelphia's business community, and these investments are part of what drives the City's growth," said Cherelle L. Parker, Mayor of Philadelphia. “JPMorganChase’s expansion to 2400 Market Street will bring quality, family-sustaining jobs across Philadelphia. With continued investment in our communities—through skills training, local business support, and initiatives that strengthen supply chains and financial health—this move delivers meaningful impact for our city.”
Earlier this year, JPMorganChase announced $24 million to strengthen Philadelphia’s shipbuilding and maritime manufacturing sector – supporting skills training, supply chains, and small business growth critical to America’s defense industrial base. The investment includes $18 million in loans and investments and $6 million in philanthropic grants, with a near-term focus on expanding submarine manufacturing capacity expected to create 450 jobs, scaling workforce training, and apprenticeships at the Navy Yard, supporting up to 100 local suppliers, and building a regional employer-training collaboration.
The firm serves more than 250,000 consumers and 22,800 small businesses through its 19 Chase branches in Philadelphia and over 80 branches in the tri-state region.
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 $5.0 trillion in assets and $375 billion in stockholders’ equity as of June 30, 2026. 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 www.jpmorganchase.com.
Jimmy Contreras
jimmy.contreras@jpmorgan.com
1+ 267-257-5582
