JPMorganChase, which plans to slash hundreds of jobs in its consumer unit, has hired Avenue Solutions for Washington to work on financial services matters.
Avenue Solutions promotes itself as an "all-female, all-Democratic firm specialized in representing pro-business interests on Capitol Hill."
It has worked for ExxonMobil, Merck, American Medical Assn., Environmental Working Group, UnitedHealth Group and Sage Therapeutics.
Founding partners Tracy Spicer, who was political director/deputy chief of staff to ex-Massachusetts Senator Ted Kennedy, and Amy Tejral, legislative director former Nebraska Senator Ben Nelson, represent JPMorganChase.
Bloomberg reported Jan. 28 that JPMorganChase will notify staffers of the cutbacks on Feb. 6. The reductions are possible as consumers increasingly bank online or via mobile apps.
JPMorganChase ended 2019 with 127,137 workers, which was down two percent from 2018. It also may sell its investment banking headquarters at 383 Madison Ave as part of a facilities review.
CEO Jamie Dimon is the top Democrat on Wall Street.