New York City, March 14, 2010 - JPMorgan Chase announced today that it would commit $5 (USD) million to near-term relief and recovery efforts in Japan in the aftermath of its worst earthquake on record. JPMorgan Chase is also encouraging employees to contribute to the rescue efforts being led by The American Red Cross and World Vision, with the firm matching these contributions.
"Our thoughts and prayers are with the people of Japan at this time," JPMorgan Chase CEO and Chairman Jamie Dimon said. "This donation is to help both with immediate needs as well as the ongoing relief and recovery efforts in the months ahead."
This donation includes the following components:
This commitment 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. Exact allocations will be determined in the coming weeks following a full assessment of the earthquake's damage and the country's needs.
In addition, Chase SapphireSM, Ink® from Chase and Chase FreedomSM customers will shortly be able to make donations to assist with the relief effort in Japan through Ultimate RewardsSM, our flagship rewards program.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 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.