JPMorgan Chase & Co. opened its first retail branch in Greater Washington.
The branch — located at 1401 New York Ave. NW, McPherson Square in Washington, D.C. — is the first of six branches the banking giant plans to open in Greater Washington before the end of 2018.
JPMorgan also plans to hire 80 new employees by the end of the year. Each new branch will have seven to nine employees, including bankers, tellers and branch managers. Entry-level employees will receive no less than $18 per hour, up from the previous wage of $16.50 per hour.
Additionally, JPMorgan plans to invest $1.6 million in the region to support underserved people develop skills they need to secure in-demand jobs and help minority-owned businesses expand, among others.
