JP Morgan CEO Jamie Dimon listens as he’s launched on the Boston Faculty Chief Executives Membership luncheon in Boston, Massachusetts, U.S., November 23, 2021.
Brian Snyder | Reuters
JPMorgan Chase, the most important U.S. financial institution by belongings, is stepping away from Russia.
“In compliance with directives by governments around the globe, we’ve been actively unwinding Russian enterprise and haven’t been pursuing any new enterprise in Russia,” firm spokeswoman Tasha Pelio stated in an e-mail.
The financial institution’s dealings associated to Russia have been “restricted” to “serving to world purchasers handle and shut out pre-existing obligations; managing their Russian-related threat; appearing as a custodian to our purchasers; and caring for our staff,” she added.
The financial institution has below 200 staff within the area, working largely within the agency’s company and funding financial institution, based on the corporate.
The transfer follows Goldman Sachs’ determination to unwind its Russia enterprise earlier Thursday.