JPMorgan Chase has agreed a new deal with the International Olympic Committee, becoming the Olympic Games’ first Global Banking Partner.
The arrangement covers the Los Angeles 2028 Olympic and Paralympic Games as well as the French Alps 2030 Olympic and Paralympic Winter Games.
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Separately, the banking giant also struck an agreement with LA28 under which it will serve as the official bank of Team USA and LA28, while also taking on the role of a founding partner of LA28.
Under the IOC agreement, JPMorgan Chase will become a Worldwide Olympic Partner in the categories of asset and wealth management and private banking, as well as commercial and investment banking.
In the US market, the bank will also act as a founding partner of the LA28 Olympic Games in the retail banking category.
As part of the partnership, JPMorgan Chase and the IOC said they will back athletes, including plans to deliver financial health workshops through the IOC’s Athlete365 platform.
The bank also said it intends to support athletes and local communities through financial education programmes, investment in local businesses, and storytelling initiatives in collaboration with NBCUniversal.
Income generated from the agreement will be redistributed to support sports bodies worldwide, including National Olympic Committees and their athletes, along with organising committees for the Olympic Games and Youth Olympic Games.
IOC president Kirsty Coventry commented: “JPMorgan Chase is the first Global Partner from the banking sector in Olympic history, and we are proud to welcome them to the Worldwide Olympic Partner programme.
“This partnership reflects our shared values of ambition, excellence and trust, and will support the Olympic Movement and sport around the world. JPMorganChase’s global reach and expertise will deliver lasting support for athletes and help create a lasting impact in communities worldwide.”
Jamie Dimon, chairman and CEO of JPMorgan Chase, added: “Olympians and Paralympians are more than athletes – they are our customers, clients and employees, and their dreams extend beyond the Games.
“We bank the communities they live in, finance the facilities they train in, help them start businesses, and plan for their futures. Their journeys reflect the aspirations of millions we serve every day, and we’re excited to support them.”
