Submitted by JPMorgan Chase & Co.
NEW YORK--(BUSINESS WIRE)--June 27, 2007--Building on its long-standing commitment to New York State, JPMorgan Chase today announced that it will invest $30 million over ten years in an innovative university-industry partnership with Syracuse University to create a financial service technology and infrastructure curriculum and training program that will benefit students throughout the region. The partnership also includes plans for a new corporate technology center on the Syracuse University campus as well as scholarships and internships for students. This program will provide a training ground for new and diverse talent in financial services technology and infrastructure and create hundreds of new jobs in Syracuse and upstate New York.
Employees of JPMorgan Chase will join Syracuse University faculty and students in creating a comprehensive interdisciplinary curriculum focused on the fields of financial and information technology, and to sponsor new research and development activities. Students from Syracuse University as well as other public and private colleges and universities across New York State will be able to participate in the program through distance learning opportunities and other classroom and research exercises. The workforce programs will include multidisciplinary educational and project opportunities for Syracuse students and JPMorgan Chase employees. The partnership hopes to extend its science, math and technology training into programs in the Syracuse City School District and other school systems.
Syracuse University Chancellor and President Nancy Cantor said, "This comprehensive university-industry collaboration between JPMorgan Chase and Syracuse University provides one of those rare opportunities to pool intellectual capital to make an immediate difference in industry, higher education and our region. Together we will build a new path-setting curriculum that draws on an array of disciplines from information studies and management, to engineering and computer science, to law and public policy and integrates the on-the-ground expertise of JPMorgan Chase technologists. This partnership will put scholarship into action to solve real-world problems in global financial services technology while reaching out to K-12 students and engaging college students near and far. JPMorgan Chase is a powerhouse and seeing its commitment to this region and state played out in hundreds of new technology jobs and the creation of a state-of-the art green-built technology center on our campus is a dream come true."
JPMorgan Chase and Syracuse University each have a tradition of excellence in New York that dates back to the 1800s. The new partnership will combine the skills and resources of these two institutions into a new model that integrates corporate expertise into the classroom and will incorporate student and faculty research in JPMorgan Chase operations.
"Throughout our history, JPMorgan Chase has been a partner with the State of New York and universities and colleges in the region. Through this partnership with Syracuse University, we are continuing our commitment to maintaining the vitality of New York State's economy by building a pipeline for future talent," said Frank Bisignano, Chief Administrative Officer and Member of JPMorgan Chase's Operating Committee. "Syracuse University is a leader in applying scholarship and innovation in educational program development. Through this partnership, we can combine our knowledge and resources to create a diverse workforce focused on financial services technology and infrastructure in upstate New York."
"This university-industry partnership expands our commitment to education and job creation in New York State. Our strategic approach to building communities is by engaging and collaborating with partners. Creating a Community Renaissance is consistent with this important initiative," said Kimberly Davis, Senior Vice President of Global Philanthropy, JPMorgan Chase.
The partnership intends to begin teaching part of the new curriculum in fall 2008. The building construction should begin shortly after. It is expected that Syracuse University will make temporary space available for partnership participants in the CASE Center in the Center for Science and Technology while the technology center is being constructed.
JPMorgan Chase's workforce of more than 25,000 in New York State makes it one of the state's largest private employers. With more than 600 bank branches and almost 2,000 ATMs, it also has the largest consumer banking presence in the state and is a leader in corporate philanthropy in the region.
JPMorgan Chase is a leading global financial services firm with assets of $1.4 trillion and operations in more than 50 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset and wealth management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. JPMorgan Chase is committed to investing in economic opportunity, development and environmental programs that enable people and communities to live, learn and thrive. Information about the firm is available at www.jpmorganchase.com.
Chartered in 1870 as a private, coeducational institution of higher education, Syracuse University is a leading national research university of more than 18,000 full- and part-time students from all 50 states and 90 countries, and more than 1,400 faculty members. Syracuse University is propelled by the bold idea of Scholarship in Action--education that is not static, but the living expression of insight that drives change. It is a place where students become leaders, teachers, and collaborators and where the community is continually impacted by the energy of new ideas.
Copyright Business Wire 2007
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.5 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, 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.
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