Women on the Move (WOTM) started as an internal, firmwide initiative to empower female employees to grow their careers. In 2018, we decided to expand the program to include female clients and consumers. It currently has three main objectives: expand women-run businesses, improve women’s financial health and empower women’s career growth.
WOTM aims to serve women-owned or women-run businesses at all stages of development, from startups to global enterprises, by providing greater access to capital, networking, expertise and advice. Lending to women-owned businesses is a key priority of the program and thanks to the scale of our firm, we can have a major impact. By the end of 2021, our firm expects to extend $10 billion in credit to women-owned businesses.
JPMorgan Chase is also focused on educating women on managing their money, which in turn helps improve their economic security. This includes helping women grow their assets through banking and investment solutions. In addition, last year, the firm invested $55 million in philanthropic investments globally to help women improve their financial health, gain well-paying jobs and grow their small businesses. We are just getting started and plan to do much more.
With roots in thousands of local communities, we are excited to increase our commitment to the success of women and girls and to help secure an equal future for women in their professional and personal lives.
Samantha Saperstein, Head of Women on the Move, JPMorgan Chase & Co