JPMorgan Chase opened a new regional headquarters in the District with a ribbon-cutting ceremony on Monday, May 9.
The recently renovated office is located in the Bowen Building at 875 15th Street Northwest, at the corner of McPherson Square.
“We’re celebrating not only the opening of JPMorgan Chase’s Mid-Atlantic headquarters in downtown D.C., but we’re also celebrating the hundreds of employees who will come here to create opportunity for our city and region,” said DC Mayor Muriel Bowser, who attended the opening.
The 12-story historic building is expected to accommodate around 600 employees of the banking company.
LIVE: Mayor Bowser Delivers Remarks at the Ribbon Cutting of JPMorgan Chase Regional Headquarters https://t.co/NuhdRu4c1T
— Mayor Muriel Bowser (@MayorBowser) May 9, 2022
JPMorgan Chase Vice Chairman and Chair of the Mid-Atlantic Peter Scher, who cut the ribbon at the ceremony along with Bowser, said that the firm is planning to provide more economic opportunity in the area.
“With the opening of our Mid-Atlantic headquarters, and our continued philanthropic and business commitments, JPMorgan Chase is supporting the future of Greater Washington,” Scher said, noting that the region is one of the largest economies in the country.
The bank is doubling its original plans made four years ago for new branches throughout DC, Maryland and Virginia, by committing to open 140 branches by the year 2025. Around 30 percent of the new branches will be in low income neighborhoods.
Operating in the DMV area since 1999, JPMorgan Chase has over 1,300 employees in DC, Maryland, and Virginia.