The National Pan-Hellenic Council, Inc. and JPMorgan Chase announced the launch of a first-of-its-kind strategic partnership. The partnership is aimed at recruiting more diverse talent in the financial services industry and providing access to tools and information to help the two million plus members of historically Black fraternities and sororities create a solid economic foundation for themselves and their families.
As part of the partnership, JPMorgan Chase will provide financial health and wealth-building workshops to all Divine Nine organizations at national and regional conferences throughout the summer and during the 2023 National Pan-Hellenic Council Annual Leadership Conference in Chicago. The workshop is targeted at members of various ages and career stages and includes information on estate planning and how to build and maintain generational wealth.
“The National Pan-Hellenic Council, Inc. is beyond excited to partner with JPMorgan Chase,” said Donna Jones, President of the National Pan-Hellenic Council. “This year’s theme of the Annual Leadership Conference is ‘Stronger Together United For Service Serving Collaboratively,’ which aligns with the work that we hope comes from our partnership with JPMorgan Chase. The goal is to work collaboratively to create a more diverse talent pool of business leaders and educate our members and community on ways to create wealth.”
This partnership stems from JPMorgan Chase’s Advancing Black Pathways, which seeks to address historical barriers to economic growth in Black communities through targeted investments and programs. The goal is to create career opportunities for Black talent, expand and support Black-owned businesses and improve Black families’ financial health. The National Pan-Hellenic Council, which consists of nine historically Black fraternities and sororities, provides a large population to impact with these initiatives. This is the first corporate partnership that spans all nine organizations.
“We’re thrilled to partner with The National Pan-Hellenic Council, Inc. and the large population of members representing nine prestigious historically Black fraternities and sororities,” said Byna Elliott, Head of JPMorgan Chase’s Advancing Black Pathways. “Partnering with National Pan-Hellenic Council provides us with an opportunity to meet members across the educational and socioeconomic spectrums who can provide us unique insight into how we can address ways to close the racial wealth gap.”
JPMorgan Chase recognizes the vast influence that the National Pan-Hellenic Council and its member organizations wield throughout Black communities and sees this effort as a critical component of an ongoing effort to grow Black wealth while building a more robust pipeline of Black talent across all levels of the firm.
“The Council of Presidents is elated to support this strategic partnership with JPMorgan Chase,” said Rasheeda S. Liberty, International President of Sigma Gamma Rho Sorority, Inc. and Chair of the NPHC Council of Presidents. “Collectively, we aim to provide our members with resources and opportunities that positively impact the communities we serve. We look forward to working effectively with JPMorgan Chase to achieve our goals.”
According to McKinsey Research, although companies have successfully hired Black employees into frontline and entry-level jobs, there is a significant drop in representation at management levels. Significant work needs to be done, and this partnership addresses the challenges.