JPMorgan Chase (JPM) has hired the head of a nonprofit that promotes business in developing countries to lead its charitable programs.
Bruce McNamer will become JPMorgan's head of global philanthropy and chief executive of the JPMorgan Chase Foundation on Nov. 15, the company announced Wednesday. The roles are new, a company spokeswoman said.
McNamer will join the bank from TechnoServe, where he has been president and CEO for nine years. TechnoServe is a nonprofit that promotes business and entrepreneurship as a means of fighting poverty in Africa, Latin America and India. Before joining TechnoServe, McNamer headed several technology startups, and worked as an investment banker for Morgan Stanley (MS) and a management consultant for McKinsey.
The JPMorgan Foundation distributed more than $190 million in 2012 to nonprofits in the United States and around the world, the company said. Last month, it partnered with the Gates Foundation to launch a fund that would invest in medical research and treatment for diseases that cause preventable deaths in poor countries.
"The private sector needs to step up and do its part to address the critical challenges we face," JPMorgan Chairman and CEO Jamie Dimon said in a news release. "We are thrilled to bring on board a leader with [McNamer]'s experience and passion who can help us drive our impact on economic growth and progress in the communities we serve."
JPMorgan also announced that Dalila Wilson-Scott has been named president of the company's foundation. She had been leading the foundation since the beginning of the year, replacing former president Kimberly Davis, who left the company, a JPMorgan spokeswoman said.