New York City, January 14, 2010 - Following a devastating earthquake in Haiti this week that resulted in yet untold casualties and severe infrastructure damage, JPMorgan Chase announced today that it would commit $1 million to the relief and recovery of the country and encourage employees to contribute to the rescue efforts.
"Our deepest sympathies go out to the people of Haiti," said JPMorgan Chase CEO and Chairman Jamie Dimon, who offered his condolences and the bank's support to Haitian Ambassador Raymond Joseph yesterday. "JPMorgan Chase is offering our support today because a quick response following a disaster like this is critical to saving lives. The American Red Cross, CARE and World Vision are trusted organizations that are on the ground now and will be there to support Haiti as they work through the aftermath."
JPMorgan Chase will provide a total of $250,000 for urgent relief care from humanitarian aid organizations The American Red Cross and CARE. This will assist with efforts such as setting up temporary shelters, offering medical assistance, helping with sanitation and handling the most pressing issues immediately following the disaster.
The bank will donate an additional $500,000 for future recovery and rebuilding efforts, split between CARE, The American Red Cross and aid organization World Vision. Exact allocations will be determined in the coming weeks following a full assessment of the earthquake's damage and the country's needs.
The bank also will encourage its more than 220,000 employees to contribute to the relief efforts, matching up to a total of $250,000 of employee contributions made to The American Red Cross or CARE via a special employee donation website. Contributions eligible for the match must be made via the website.
"The American Red Cross is rushing supplies and disaster management staff to Haiti in the aftermath of this earthquake, and the generous contribution of JPMorgan Chase is critical to our ability to provide help and hope for people during their time of need," said Gail McGovern, President and CEO of the American Red Cross. "We are grateful for this support of our humanitarian mission."
"This is an extremely serious situation. We currently have 133 personnel on the ground in Haiti and are deploying additional staff immediately to distribute food, hygiene kits and water, as well as to deliver emergency health services," said Helene Gayle, President and CEO of CARE USA. "We are extremely grateful to JPMorgan Chase for this tangible expression of concern for the people of Haiti in this time of dire need."
To make a donation to trusted charties helping earthquake victims in Haiti, please visit:
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.