Initial $25 Million Investment to Benefit New Orleans-Based Liberty Bank & Trust Company
AmerisourceBergen, a global healthcare company, has made an initial investment of $25 million into J.P. Morgan Asset Management’s Empower money market share class which allows institutional clients to support minority-owned and diverse-led financial institutions and create a positive social impact. AmerisourceBergen has selected Liberty Bank and Trust Company, headquartered in New Orleans, Louisiana, as the beneficiary of potential revenues from managing this investment, providing the bank with access to capital for hiring, lending, training, mentoring and additional community support.
“At AmerisourceBergen, we are guided by our purpose and principles, and driven by our responsibility to create healthier futures. Part of that responsibility requires us to act and use our privilege and position to address systematic inequality,” said Steve Collis, Chairman, President & CEO of AmerisourceBergen. “Investing in J.P. Morgan’s Empower share class is a critical step in our process to align cash management strategies with our commitments to fostering healthy communities. Creating economic opportunity is such a powerful way to break down barriers, and we’re thrilled that our investment will benefit Liberty Bank and Trust Company – an organization that has a track record of bridging gaps and empowering the communities it serves.”
Evolving treasury and cash management programs is part of AmerisourceBergen’s expanded commitment to addressing systemic inequalities and supporting diversity and inclusion in various aspects of its business. In fact, AmerisourceBergen’s Global Diversity & Inclusion Council (GDIC) was created to provide strategic direction, best practice sharing, and accountability to advance business results through a global diversity and inclusion strategy. The GDIC works to ensure the company has a globally diverse workforce, fosters a strong culture of inclusion, drives competitive value and builds collaborative partnerships with key influencers and diverse suppliers in the community.
Seeing AmerisourceBergen’s renewed energy for creating impact and its focus on fueling growth through innovation, diversity, equity and inclusion, inspired Kiara Hall, a manager at AmerisourceBergen, to bring this investment idea to senior leaders within the company.
“After reading about companies investing in minority-owned banks, I became immediately intrigued by the possibility of AmerisourceBergen doing something similar in the space.” said Hall. “I had conversations with leaders across the organization and was encouraged to keep elevating the concept. The process was so collaborative, and it was meaningful to have leaders rally around me and this idea. It speaks volumes to the culture and commitments of AmerisourceBergen. There truly is a space for team members to explore impactful ideas, and the dedication from leaders to help see it through to reality is undeniably present. It makes a significant difference.”
AmerisourceBergen fosters a positive impact on the health of people and communities around the world by advancing the development and delivery of pharmaceuticals and healthcare products. As a leading global healthcare company, with a foundation in pharmaceutical distribution and solutions for manufacturers, pharmacies, and providers, we create unparalleled access, efficiency, and reliability for human and animal health. Our 41,000 global team members power our purpose: We are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #8 on the Fortune 500 with more than $200 billion in annual revenue. Learn more at https://amerisourcebergen.com.
About J.P. Morgan Asset Management
J.P. Morgan Asset Management, with assets under management of USD 2.7 trillion (as of 30 September 2021), is a global leader in investment management. J.P. Morgan Asset Management's clients include institutions, retail investors and high net worth individuals in every major market throughout the world. J.P. Morgan Asset Management offers global investment management in equities, fixed income, real estate, hedge funds, private equity and liquidity. For more information: www.jpmorganassetmanagement.com.
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Media: Francesca Gunning