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The largest U.S. lender's investments have included $1.8 billion in commercial loans and credit and $200 million in philanthropy. Sign up here. "We've seen an increase in consumer accounts, small business accounts," he said, as well as financing large companies based in the city. JPMorgan plans to add up to 70 employees in Detroit from a current 80 people working in a virtual call center for its consumer and auto businesses, the bank said. Detroit, once the heart of the U.S. auto industry, filed for bankruptcy in 2013 after decades of population loss, industrial decline and fiscal mismanagement. Since then, it has shown signs of recovery, with new housing, small business growth and increased investment from the public and private sectors. Several companies, including General Motors, DTE Energy and Rocket have invested locally. Detroit has served as a testing ground for JPMorgan’s community investment strategy, and it plans to replicate the model in Baltimore, Atlanta and Birmingham to expand its commercial and philanthropic footprint. “It’s the origin story for how we think about our involvement, engagement and investment in communities,” said Tim Berry, head of corporate responsibility at JPMorgan. The lender is building a new office in Detroit, scheduled to be completed next year. In October, it opened a $3 billion headquarters in New York, which will serve as a model for the company's future offices worldwide. Reporting by Nupur Anand in New York and Tatiana Bautzer in Detroit, editing by Lananh Nguyen and Rod Nickel Our Standards: The Thomson Reuters Trust Principles., opens new tab Nupur Anand is a U.S. banking correspondent at Reuters in New York. She focuses on JPMorgan Chase, Wells Fargo and regional banks. Anand covered banking and finance in India for more than a decade, chronicling the collapse of major lenders and turmoil at digital banks and cryptocurrencies. She has a degree in English literature from Delhi University and a postgraduate diploma in journalism from the Indian Institute of Journalism & New Media in Bangalore. Anand is also an award-winning fiction writer. Tatiana Bautzer is a U.S. banking correspondent at Reuters in New York. She previously covered banks in Brazil, breaking news on deals by major global corporations, initial public offerings and bankruptcies. She has also delved into corruption scandals at Brazilian conglomerates and business disputes between billionaires. Prior to joining Reuters in 2015, Bautzer worked for business magazines Exame and Istoe Dinheiro and newspapers Valor Economico and O Estado de S. Paulo. She previously served as international correspondent for Valor Economico in Washington, D.C., covering multilateral institutions and trade. Bautzer holds a B.A. in Journalism and an MBA from the University of Sao Paulo.
