JPMorgan Chase has announced that Bruce McNamer will join the firm as the new Head of Global Philanthropy and Chief Executive Officer of the JPMorgan Chase Foundation, and Dalila Wilson-Scott has been appointed President of the Foundation.
JPMorgan Chase has a long history of philanthropy and civic engagement, utilizing its unique strength and expertise, its global reach and access to capital to support clients and communities. Last year, the firm and its Foundation gave more than $190m to thousands of non-profit organizations across the United States and 37 countries around the world. In 2012, JPMorgan Chase and the Brookings Institution launched the Global Cities Initiative to help metropolitan regions become more competitive in the global economy.
Last week, the firm announced the Global Health Investment Fund, structured with the Bill & Melinda Gates Foundation, which, for the first time, introduces nearly $100m of investment capital to support global health research and development for interventions against diseases that cause millions of preventable deaths in low-income countries.
'The private sector needs to step up and do its part to address the critical challenges we face', said Jamie Dimon, Chairman & CEO of JPMorgan Chase & Co. 'We are thrilled to bring on board a leader with Bruce's experience and passion who can help us drive our impact on economic growth and progress in the communities we serve'.
Peter L. Scher, Executive Vice President and Head of Corporate Responsibility of JPMorgan Chase, said, 'Our firm has tremendous assets and expertise to help communities around the world address a range of issues, from economic growth and workforce readiness to affordable housing and consumer financial empowerment. The addition of Bruce to our team, along with Dalila's continued leadership, will significantly enhance our efforts'.
'Having spent many years working to build business-based solutions to poverty, I am thrilled to join JPMorgan Chase as it continues to harness the talents of its people, its substantial assets and relationships, and its philanthropic capital to expand economic opportunity and well-being for communities worldwide', said McNamer.
For the last nine years, McNamer has served as the President and CEO of TechnoServe, a nonprofit organization that works with people in the developing world to build competitive farms, businesses and industries. McNamer grew the organization's annual revenues from $16m to over $74m and drove its expansion to operations in 30 countries in Africa, Latin America and India. The number of people benefiting from TechnoServe's work has increased from 500,000 in 2004 to nearly 3m last year.
Before joining TechnoServe, McNamer's career spanned both the public and private sectors. He was the founder and a senior executive at several technology startups and worked as an investment banker at Morgan Stanley and a management consultant at McKinsey & Company. He was also a White House Fellow at the National Economic Council and a Peace Corps volunteer in Paraguay. McNamer will join the firm on November 15.
Wilson-Scott, who has been leading the Foundation since the beginning of the year, will become the new President of the JPMorgan Chase Foundation. She brings fourteen years of experience at the firm with over eight years as a philanthropic leader. Wilson-Scott has recently spearheaded the development of new initiatives supporting workforce skills development and consumer financial empowerment. Prior to joining Global Philanthropy, she was in the corporate merger office and in strategic planning in the consumer and commercial banking businesses.