JPMorgan Chase announced on Monday that Byna Elliott has been named the Head of Advancing Black Pathways, a nearly two-year-old strategy aimed at strengthening the economic foundation of the Black community.
In taking the helm of Advancing Black Pathways, Elliott will play a key role in executing the firm’s strategy to address the key drivers of the racial wealth divide and create economic opportunity for Black communities through a $30 billion commitment over the next five years.
She will also build upon Advancing Black Pathways’ successes, which include a hardship fund to help students at Historically Black Colleges and Universities cover the cost of personal finance emergencies, Advancing Black Entrepreneurs by Chase for Business, Currency Conversations, the New Voices Banking Bootcamp for women entrepreneurs, and a commitment from the firm to hire 4,000 Black students by 2024 through fellowships, internships and entry-level analyst roles.
“I’m excited to join JPMorgan Chase and for the opportunity to play a direct role in helping Black people chart stronger paths towards economic success and empowerment,” Elliott said. “It’s inspiring to join a firm that’s being intentional about closing the racial wealth divide, and I look forward to contributing to this effort.”
Elliott, who will report to Brian Lamb — the firm’s Global Head of Diversity & Inclusion, will be responsible for executing a strategy that aims to help Black people achieve sustained success through targeted investments and programs in four key areas under the firm’s diversity and inclusion framework, including Careers & Skills, Financial Health & Wealth Creation, Business Growth & Entrepreneurship, and Community Development.
“Advancing Black Pathways is a bold and strategic commitment at JPMorgan Chase focused on accelerating opportunities for Black people and mitigating the effects of historical inequality,” Lamb said. “Over the last two years, we’ve established a strong foundation that will enable this strategy to achieve sustained generational impact. (Elliott) brings a proven track record of driving strategies to invest in underserved communities, and her skillset is precisely what we need to ensure that Advancing Black Pathways will deliver on its purpose for generations to come.”
Elliott brings more than 20 years of community reinvestment experience into her new role. Prior to joining JPMorgan Chase, Elliott served as the Chief Enterprise Responsibility Officer for Fifth Third Bank, overseeing the bank’s corporate social responsibility and Community Reinvestment Act efforts, including environmental sustainability initiatives, philanthropic giving, ethical business practices, and economic responsibility. As part of these efforts, she was also an executive sponsor of Fifth Third’s Black talent development initiatives.