Kevin Dietsch
JPMorgan Chase (NYSE:JPM) created the JPMorganChase Center for Geopolitics to provide clients with resources to navigate an increasingly complex global business environment, the company said on Wednesday.
“In today’s world, business leaders must navigate rising global competition coupled with unprecedented interconnectedness, disruptive technological forces, persistent economic uncertainty and proliferating geopolitical crises,” said JPMorgan Chase Chairman and CEO Jamie Dimon.
On Monday at JPM’s Investor Day, Dimon said that geopolitical risk is “very, very, very high.” He has described the situation as the most complicated and dangerous since World War II.
The center will leverage a broad team of experts to advise clients on how to anticipate and respond to geopolitical trends reshaping the world, including the rise of artificial intelligence, shifts in global trade and supply chains, U.S.-China relations, and evolving dynamics in Europe and the Middle East, the company said.
Derek Chollet, who has worked at the Pentagon, State Department, White House, and Congress, will lead the center.
“Geopolitics is no longer a side issue for business – it’s an issue in every c-suite and boardroom around the world,” Chollet said in a statement.
The center’s initial reports cover the Middle East, issues facing the U.S. defense industrial base, and the future for Europe, in light of the Russia-Ukraine war.
JPMorgan Chase (NYSE:JPM) stock slipped 0.6% in Wednesday premarket trading, a day when S&P futures also fell 0.6%.