News
Billion Dollar Roundtable Inducts Newest Corporate Member JPMorgan Chase
Iconic Wall Street Firm Recognized for Billion-Dollar Annual Supplier Diversity Spend
Aug. 21, 2019 – The Billion Dollar Roundtable Inc. (BDR) announced today that JPMorgan Chase & Co. has joined the top-level corporate supplier diversity advocacy organization as its newest member company. JPMorgan Chase, the global financial services firm whose corporate history dates back more than 200 years, joins an exclusive group of U.S.-based corporations that have attained $1 billion or more in annual Tier 1 supply-chain diversity spend, the threshold for BDR membership.
JPMorgan Chase will be inducted formally into the organization during the BDR Annual Summit Aug. 21-22, 2019, in Basking Ridge, N.J.
“JPMorgan Chase truly is one of the nation’s legendary companies. With its global leadership in the financial services industry, the BDR welcomes the opportunity to work with JPMorgan Chase on groundbreaking initiatives to advance the practice of corporate supplier diversity. Our corporate members will benefit greatly from collaboration with JPMorgan Chase and its unparalleled expertise in supplier-diversity best practices in financial services,” said BDR Chairman Shelley Stewart Jr.
JPMorgan Chase’s Global Supplier Diversity mission aligns the company’s supply and consumer bases, engaging with certified and qualified diverse businesses, including companies owned and operated by minorities, women, military veterans, disabled veterans, service-disabled veterans, people with disabilities and members of the LGBT+ community, in the interest of promoting economic growth in the communities it serves. In 2018 alone, JPMorgan Chase’s spend with diverse suppliers surpassed $2 billion.
“The Billion Dollar Roundtable represents the Super Bowl of accomplishments in supplier diversity. We are honored to achieve this milestone, and we are extremely proud of our teammates, partners and company for having done so,” said JPMorgan Chase Chief Procurement Officer Ken Litton. “JPMorgan Chase has a long-standing commitment to working with diverse suppliers. This year marks the 25th anniversary of our program, and over the past 12 years we’ve spent more than $17 billion with diverse suppliers. We are looking forward to working alongside the other members of the Billion Dollar Roundtable to reach even greater heights.”
Bill Kapfer, JPMorgan Chase Global Head of Supplier Diversity, said, “An accomplishment such as this one is not achieved alone. It was the shared dedication of the supplier diversity and sourcing teams along with senior managers from lines of business across the firm that made this achievement possible.”
JPMorgan Chase joins these major U.S.-based corporations as member companies of the BDR: Adient, Apple Inc., AT&T Inc., Avis Budget Group, Bank of America, The Boeing Co., Comcast NBCUniversal, Cummins Inc., CVS Health, Dell Inc., Exelon Corp., Fiat Chrysler, Ford Motor Co., General Motors Corp., Honda North America, IBM Corp., Johnson Controls Inc., Johnson & Johnson, Kaiser-Permanente, The Kroger Co., Merck & Co., Microsoft Corp., Pacific Gas and Electric Co., Procter & Gamble Co., Toyota Motor North America Inc., Verizon Communications Inc. and Wal-Mart Stores Inc.
“The BDR is excited JPMorgan Chase has joined us in support of our mission to drive supplier diversity excellence through best-practice sharing and thought leadership. Robust supplier diversity initiatives have emerged as a business imperative for corporations today, and the BDR welcomes to the table JPMorgan Chase’s ideas, market presence and leadership,” said BDR President and CEO Sharon Patterson.
About the Billion Dollar Roundtable
The Billion Dollar Roundtable, created in 2001, is a non-profit organization that comprises corporations that each spend $1 billion or more annually on a Tier 1 basis with diverse suppliers. The BDR recognizes and celebrates corporations that achieve this status and promotes and shares best practices in supply-chain diversity excellence. BDR member companies review and discuss issues, challenges and strategies related to supplier diversity as a means to advance supply chain opportunities for both corporations and diverse suppliers. The BDR is publisher of the title “Supplier Diversity Best Practices: Building Excellence to Improve the Supply Chain Matrix.” For more information about the BDR, go to www.billiondollarroundtable.org
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.7 trillion and operations worldwide. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase is available at www.jpmorganchase.com.