Bank to double its downtown Miami office space and add new office location in West Palm Beach
- Firm adding capacity for 400 additional employees at Brickell office location
- Study shows JPMorganChase contributes $1.93 billion annually to the region's economy, stimulating an additional 5,300 local jobs
- Miami office projects will create more than 380 local construction jobs annually
- Firm opening new West Palm Beach office and three J.P. Morgan -branded branches in Palm Beach County next year
JPMorganChase today unveiled renovation and expansion plans for its Brickell office location in Downtown Miami, and announced it is opening a 13,000 square foot office in West Palm Beach, reinforcing the firm's commitment to South Florida as one of its key strategic regions in the country. The firm's expansion of its South Florida footprint is expected to trigger an average of $151 million in additional economic activity for South Florida and support about 380 local construction jobs per year during the construction period.
The firm's downtown Miami office will double in size from 80,000 square feet to 160,000 square feet in part to accommodate 400 additional employees. The office currently includes more than 500 employees across all of JPMorganChase's lines of business and functions. The two-year project will also renovate and expand the firm's Miami Client Center to create a world-class meeting and function space to host client and employee events. This investment in the Brickell office includes refurbished work floors with state-of-the-art technology and furniture, updated meeting rooms, common spaces, restrooms and pantry areas.
In addition, the firm will open a new 13,000 square foot office in West Palm Beach at 360 Rosemary to bring together more than 60 employees across many of its lines of business and functions who were previously sitting in a number of locations across Palm Beach County.
"Miami and South Florida are home to an increasing number of our clients, customers, community partners and employees, and a strategic location for our operations in Latin America as well," said Jonathan Bello, head of Chase for Business Miami and co-chair of the firm's South Florida Market Leadership Team. "Like our investment with Inter-Miami CF to create Chase Stadium, these expansions reflect the opportunity that this area represents as well as our commitment to be the bank for all in South Florida."
JPMorganChase is one of the region's largest private employers with more than 3,000 local employees. An independent third-party study found that through the firm's thousands of local employees and operations, JPMorganChase contributes $1.9 billion in annual economic activity to South Florida, stimulating an additional 5,300 jobs across several local industries.
J.P. Morgan Financial Centers Coming to South Florida
In addition to its corporate office expansions, the firm will be opening three J.P. Morgan Financial Centers in Palm Beach, Jupiter and Palm Beach Gardens early next year. These locations are among more than 20 J.P. Morgan Financial Centers to be opened across the country. Many of these locations were previously First Republic offices that will be converted into an entirely new experience, leveraging First Republic's existing branch format – open meeting space and large living rooms, private meeting spaces and board rooms, and a signature library.
"These new centers will serve clients across banking, lending and wealth, and will offer the best of both worlds – the strength and scale of JPMorganChase and First Republic's commitment to exceptional client service," stated Jen Roberts, CEO of Chase Consumer Banking.
Expanding throughout Florida
In addition to its growth in South Florida, the firm is also adding new offices in Melbourne, Sarasota and Fort Myers, and is in the midst of executing a significant investment in its Tampa Corporate Center offices. In his recent annual letter, JPMorganChase CEO and Chairman Jamie Dimon highlighted the firm's commitment to empowering economic growth throughout Florida. The firm's 16,400 employees statewide work across all lines of business – Commercial and Investment Banking, Consumer and Community Banking, and Asset and Wealth Management – as well as its major corporate functions, including Technology, Service and Operations, Human Resources, Legal, and others.
The firm serves more than 6.2 million consumers and 678,000 small businesses through more than 400 local branches Florida-wide. Over the last three years, the firm has made more than $46 million in philanthropic and business investments in South Florida and nearly $65 million statewide to increase homeownership opportunities, accelerate wealth creation, help small businesses grow, and expand financial health for residents. Most recently, as part of its $10 million Tech Equity commitment in Miami, the firm announced a $1 million philanthropic commitment to Florida Memorial University to expand its technology programs.
About JPMorganChase
JPMorganChase (NYSE:JPM) is a leading financial services firm based in the United States of America ("U.S."), with operations worldwide. JPMorgan Chase had $4.1 trillion in assets and $337 billion in stockholders' equity as of March 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 JPMorganChase is available at www.jpmorganchase.com.
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