Effective today, businesswoman and diversity champion Mellody Hobson has been elected to join the boards of JPMorgan Chase Bank, N.A., Chase Bank USA, N.A. and JPMorgan Chase Holdings LLC.
The Chicago native is recognized as the first African-American woman to head the Economic Club of Chicago and served as the Board Chair of DreamWorks Animation where she was key in administering its 2016 sale to Comcast for a groundbreaking $3.8 billion. Hobson additionally serves on the boards of Boards of Starbucks Corporation and The Estée Lauder Companies,
“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 Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase.
“We are extremely fortunate to attract such an outstanding director to our firm, and we are looking forward to working with Mellody and learning from her”Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase.
Hobson graduated from Princeton University and began interning with Ariel Investments, LLC the following summer
“I was desperate to understand money, desperate for financial security,” says Hobson in a 2015 Vanity Fair Interview, “I felt like financial security would be the biggest gift I could ever have, ever.”
In 2000, Hobson was appointed as President and was known for her innovative, impactful investment strategies and persistent hard work. She is responsible for firm-wide management and strategic planning, overseeing operations outside of research and portfolio management, and serves as chairman of the board of trustees for Ariel Investment Trust.
Alongside her achievements in business, Hobson is both socially and philanthropically engaged. She works with a number of civic, non-profit and professional organizations including her roles as Chairman of After School Matters; Director of the Chicago Public Education Fund; and Board member of the George Lucas Education Foundation among others. She is a champion of financial literacy, diversity in the workplace, and investor education, serving as a regular commentator and speaker for CBS News, Black Enterprise, TEDx, and other media outlets.
Hobson’s board appointment comes as JPMorgan Chase CEO Jamie Dimon announces the bank’s $1 million investment in two programs focused on high-growth startups founded by women of color, one of which is also supported by the Case Foundation. In January, the bank also announced its plan to spend $20 billion over five (5) years to raise hourly pay for a portion of its workforce, add jobs, open 400 branches in new U.S. locations.