Mellody Hobson—one of the most respected African American women in the realm of business—has hit another major milestone in her career. Hobson was recently appointed to serve on the boards of JPMorgan Chase Bank, N.A., Chase Bank USA, N.A. and JPMorgan Chase Holdings LLC, Walker’s Legacy reported.
The Princeton University alumnus—who hails from Chicago—has held leadership positions at notable firms and organizations throughout her career, the news outlet writes. She currently serves as the President of Ariel Investments, LLC and in the past was the director of the Chicago Public Education Fund and the chairman of a non-profit called After School Matters that provides both after-school and summer programs for Chicago’s youth. Her business acumen and philanthropic work surrounding education and diversity have landed her board seats at companies that include DreamWorks Animation, The Estée Lauder Companies, and Starbucks Corporation.
Chairman and Chief Executive Officer of JPMorgan Chase Jamie Dimon says the company is fortunate to have Hobson serve on their board. “Mellody Hobson is one of the most highly respected and knowledgeable leaders in business today, with valuable experience in corporate governance, financial markets, communications, and leadership,” said Dimon in a statement.
Prior to Hobson’s appointment, JP Morgan Chase announced that they would invest $1 million in creating two initiatives that would fund startups launched by women of color in efforts to level the playing field when it comes to getting access to capital. “My hope is that our investment continues to help unlock doors for Black and Hispanic women entrepreneurs to grow and showcase their tech startups to get ahead once and for all,” said Dimon, according to Black Enterprise. “Women of color have not had equal access to the resources they need to be successful in business.”
JP Morgan isn’t the only financial institution that has launched initiatives to support Black business owners. In January, Wells Fargo announced that it would invest $6.6 million to ensure that Black entrepreneurs have a seat at the venture capital table.