JPMorgan Chase has dislosed plans to invest $30 million over ten years in a partnership with Syracuse University to create a financial technology and infrastructure curriculum and training programme.
The agreement includes plans for the establishment of a technology centre on the Syracuse University campus as well as scholarships and internships for students.
Bank employees will join faculty staff and students in creating an interdisciplinary curriculum focused on financial and information technology, and to sponsor new research and development activities.
The university intends to begin teaching part of the new curriculum in autumn 2008. Building construction on the new technology centre is expected to begin shortly afterwards. The university is expected to make temporary space available for partnership participants in its Centre for Science and Technology while the new technology facility is being constructed.
JPMorgan says the programme will provide a training ground for new and diverse talent in financial services technology and infrastructure and create hundreds of new jobs in Syracuse and upstate New York.
Students from other universities across New York State will be able to participate in the programme through distance learning, says JPMorgan. Also, workforce programmes will be available for Syracuse students and JPMorgan Chase employees. An outreach programme will also tap into the Syracuse City School District and other school systems.
Nancy Cantor, Syracuse University chancellor and president, says: "This partnership will put scholarship into action to solve real-world problems in global financial services technology while reaching out to K-12 students and engaging college students."
Frank Bisignano, chief administrative officer and member of JPMorgan Chase's operating committee, says the partnership with Syracuse University builds "a pipeline for future talent".
"We can combine our knowledge and resources to create a diverse workforce focused on financial services technology and infrastructure in upstate New York," adds Bisignano.