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JP Morgan allocates $3.8 mn in aid for India employees amid COVID-19
Filippo Gori, the chief executive of JP Morgan Asia Pacific, said the bank has set aside $3.8 million for the care of its over 35,000 India employees
PTI | May 15, 2021 | Updated 08:38 IST
JP Morgan
Global investment banking major JP Morgan Chase has increased its COVID-19 support to the country manifold, taking the total planned aid to close to $16 million, of which $3.8 million is for supporting its over 35,000 employees in India. The head of the Wall Street major Jamie Dimon had on April 30 had committed an upfront $2 million financial aid along with an appeal to its over 2.5 lakh employees globally to chip in which would be matched by an equal amount by the company.
COVID support: JP Morgan earmarks $3.8 mn for India staff; offers $10 mn more in phases
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COVID support: JP Morgan earmarks $3.8 mn for India staff; offers $10 mn more in phasesPTI
Last Updated: May 14, 2021, 02:55 PM IST
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Synopsis
The head of the Wall Street major Jamie Dimon had on April 30 had committed an upfront USD 2 million financial aid along with an appeal to its over 2.5 lakh employees globally to chip in which would be matched by an equal amount by the company.
Agencies
JP Morgan is also a member of the recently-announced global taskforce on the pandemic response, a public-private partnership providing 1,000 ventilators and a further 25,000 oxygen concentrators to India.
Global investment banking major JP Morgan Chase has increased its COVID-19 support to the country manifold, taking the total planned aid to close to $16 million, of which $3.8 million is for supporting its over 35,000 employees in India. The head of the Wall Street major Jamie Dimon had on April 30 had committed an upfront $2 million financial aid along with an appeal to its over 2.5 lakh employees globally to chip in which would be matched by an equal amount by the company. In an internal communication on Thursday, which PTI has seen, Filippo Gori, the chief executive of JP Morgan Asia Pacific, said the bank has set aside $3.8 million for the care of its over 35,000 India employees, and an additional $10 million is being earmarked in phases to support the needy in their pandemic recovery phase.