Largest US Lender JP Morgan Announces First Republic Branch Closures Amid Expansion Plans

Benzinga2023-06-02

JP Morgan Chase & Co (NYSE: JPM) looks to shut 21 branches of First Republic Bank by 2023 as it integrates the failed lender into its operations. The locations account for about a quarter of First ...

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Branch Closures Amid Expansion Plans\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-06-02 01:47 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/largest-us-lender-jp-morgan-174743329.html><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>JP Morgan Chase & Co (NYSE: JPM) looks to shut 21 branches of First Republic Bank by 2023 as it integrates the failed lender into its operations.\nThe locations account for about a quarter of First ...</p>\n\n<a href=\"https://finance.yahoo.com/news/largest-us-lender-jp-morgan-174743329.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BWXC8680.SGD","symbol_name":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) 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spokesperson said.\nAlso Read: ChatGPT Bug Bites JP Morgan: Looks To Develop AI Software For Investment Advice\nJP Morgan will offer six-month transition assignments to close to 100 employees affected by the branch closures. \nAfter that, they will be eligible to apply for other roles at JP Morgan, which currently has 13,000 vacancies.\nLast week, JP Morgan informed nearly 1,000 First Republic Bank employees would lose their jobs. Some others have been offered temporary roles for three months to a year.\nThe lender, the largest to collapse since the 2008 financial crisis, was seized by regulators in May and sold to JP Morgan.\nJP Morgan is the largest U.S. lender, with plans to invest in opening more locations while also expanding its digital offerings.\nPrice Action: JPM shares traded higher by 1.47% at $137.70 on the last check Thursday.\n\nDon't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.\nThis article Largest US Lender JP Morgan Announces First Republic Branch Closures Amid Expansion Plans originally appeared on Benzinga.com.\n© 2023 Benzinga.com. Benzinga does not provide investment advice. 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