Skip to main content
Secondary Nav

One Houston Together: Member Spotlight on JPMorgan Chase's $30B Commitment to Racial Equity

Published May 09, 2022 by A.J. Mistretta

dei roundtable

As part of its ongoing effort to showcase success in supplier diversity, the Partnership’s One Houston Together initiative hosted its latest roundtable discussion in late April featuring a case study with financial services firm JPMorgan Chase & Co. 

Supplier diversity is one of the two priorities of One Houston Together alongside talent advancement and board representation. The roundtable discussions are designed to showcase Partnership members that are leading change and to share best practices. 

In 2020, JPMorgan Chase committed $30 billion over a five-year period to advance racial equity. The firm said at the time that it would harness its expertise in business, policy and philanthropy to address the key drivers of the racial wealth divide, reduce systemic racism against Black and Latinx people, and support employees. Part of the bank’s commitment includes $750 million in additional spending with Black and Latinx suppliers. 

JPMorgan partners with its sourcing managers and business units to ensure supplier diversity throughout the sourcing process. Qualified and certified minority business enterprises (MBEs) are identified from the bank’s diverse supplier registration portal and external supplier databases to source vendors that can meet business needs. 

JPMorgan Chase supplier diversity strategy

Jim Flynn, Executive Director of Global Supplier Diversity at JPMorgan, joined the roundtable and discussed the bank’s diverse supplier program and how it’s grown in recent years. Since 2015, JPMorgan has spent $11 billion with diverse suppliers. 

In 2020, the bank examined how they could become more activist and intentional in their approach while leveraging their own supply chain to expand the reach to more MBEs. Today, he said, the company is much more focused on business development and a holistic supply chain centered approach. 

“The old model was meeting companies where they are,” Flynn said. “Our new approach goes beyond that to how do we increase overall inclusivity by working with our suppliers and helping them develop a program with specific standards.” 

JPMorgan’s robust Tier 2 Program, aimed at encouraging its direct or prime vendors to use MBEs, puts those prime vendors into three categories: nascent, emerging and mature. The bank works with its suppliers in each category to help them develop an effective supplier diversity program of their own. The company also requests its suppliers to report their diverse supplier spend on a quarterly basis.

“We’re asking our primes to be interested in what we’re doing and to be engaged,” Flynn said. “We’re sharing our success stories with MBEs with them because sometimes the MBEs core competencies may be best suited to one of our suppliers. So we’ve gotten better at showcasing the MBEs to the group.” 

Through their city strategy/focus, “We have an opportunity in Houston to leverage the power of partnership to do this work,” Flynn said. 

Flynn said when it comes to MBE supplier success, JPMorgan is focused on finding, protecting and propelling effective MBEs in their network. 

Learn more about One Houston Together and the Equity & Inclusion Assessment. 

Related News

Diversity and Inclusion

How Board Service Prepares You for Leadership

5/12/25
Board service isn’t just about governance – it’s a leadership masterclass. If you’re looking to grow your impact and elevate your strategic thinking, joining a board is one of the most powerful development opportunities available. Why It Matters At the Greater Houston Partnership, we know that leadership at every level, from the boardroom to the front lines, is critical to advancing Houston’s position as a city of opportunity. Serving on a board strengthens the kind of high-impact leadership our region needs to grow and thrive. Whether you're leading a team or a company, the responsibilities of board members mirror those of top executives: defining strategy, assessing risk, guiding talent and maintaining accountability. Serving on a board challenges you to think beyond your functional expertise and operate with a high-altitude, enterprise-wide perspective. You’ll learn to ask better questions, make sharper decisions and prioritize what truly matters. The Power of Board Diversity Through our One Houston Together initiative, we’re committed to advancing diversity on corporate boards as part of our broader mission to strengthen Houston’s economic dynamism and opportunity for all. Diverse boards bring broader perspectives, deeper understanding of stakeholder needs and stronger business outcomes. When leadership reflects the communities it serves, companies are better equipped to navigate complexity, spark innovation and build lasting trust.  Core Skills You Build Board experience sharpens your ability to: Think strategically: Board members are expected to elevate conversations, zooming out to consider long-term risks and opportunities. Communicate with purpose: You’re on the board for a reason – using your voice with clarity and confidence is key. Prioritize ruthlessly: Managing board commitments alongside your career teaches disciplined time management. Learn continuously: Staying current on market trends, competitors and global shifts is a non-negotiable. What You’ll Tackle Board meetings often center on today’s most pressing business issues: artificial intelligence, global trade and economic shifts, federal policy changes, sustainability and talent development. You won’t just observe – you’ll contribute to decisions that shape a company’s future. These topics mirror the challenges and opportunities the Greater Houston Partnership tackles, including shaping policies, attracting investment and positioning Houston for long-term success. Getting Ready to Serve You don’t need to wait until retirement. Many professionals gain board experience through nonprofit organizations, where they build leadership skills and expand their networks while giving back to the community. Key steps include: Start networking: Relationships matter. Begin connecting with board members and executive leaders now. Stay curious: Board-ready professionals are lifelong learners who bring fresh insights to the table. Be intentional: Think about how your current role demonstrates strategic thinking, community impact and business results. If you're considering board service, don’t underestimate its impact on your professional trajectory. You’ll grow as a leader, contribute to something bigger than yourself, and bring those sharpened skills back to your day job, benefiting your organization and your career.
Read More
Economic Development

How Amazon's Strategic Procurement Drives Inclusive Growth

11/25/24
Amazon’s leadership in supplier diversity has positioned the corporation for success while driving inclusive economic growth. Kennedy Oates, Partnership Board Member and Vice President of Global Procurement at Amazon, shared insights and best practices at the Greater Houston Partnership’s One Houston Together Fall Chief Procurement Officers (CPO) Convening.  Oates discussed how Amazon has grown its supplier diversity efforts by ensuring the value proposition of advancing supplier diversity and inclusion throughout our supply chain is communicated at every level. According to Amazon’s 2023 Sustainability Report, the company’s global supplier diversity and inclusion (SD&I) program is estimated to have supported over 30,000 U.S. jobs and generated approximately $2.8 billion in wages, earned from Amazon’s certified U.S. tier 1 supplier diversity spend. In 2023, Amazon was inducted to the Billion Dollar Roundtable, a nonprofit organization comprised of U.S. corporations that each spend $1 billion or more annually on a tier 1 basis with diverse suppliers. These diverse-owned businesses include majority owners identifying as minorities, women, veterans, disabled, and LGBTQ.  Oates stated that achieving this milestone required a deliberate approach, built on a clear vision, a targeted strategy, and an empowered team dedicated to executing these goals. By embedding supplier diversity into Amazon’s core procurement practices, they’ve fostered a sustainable and inclusive growth model that supports the company’s goals and the success of diverse suppliers. Key Takeaways from CPO Convening Supplier Diversity as a Strategic Value Proposition Oates emphasized the importance of viewing supplier diversity as more than just an initiative—highlighting the long-term value diverse suppliers bring to a company and its surrounding communities. Through its global SD&I strategy, Amazon measures impact through jobs supported, wages earned, and economic output generated. “Given our reach and scale, Amazon has a greater responsibility.” – Kennedy Oates, VP of Global Procurement, Amazon Vision-Driven Goals with Clear Strategies For Amazon, supplier diversity goes beyond statements. Oates stressed the importance of crafting a well-defined vision, supported by actionable strategies to advance supplier diversity objectives. He also noted that internal teams should have collaborative discussions on supplier diversity across the entire business rather than in silos.   Partnering with Companies at Every Level “Every large company was once small.” – Kennedy Oates, VP of Global Procurement, Amazon Amazon is redefining procurement by challenging the perception that only large companies can serve large corporations. Its approach embraces partnerships with businesses of all sizes, embedding supplier diversity as a core element of its supply chain. This creates a positive ripple effect that brings opportunities to underrepresented companies. To learn more about the Partnership’s Supplier Diversity workstream, contact LaTanya Flix.
Read More

Related Events

Diversity and Inclusion

Talent Roundtable: Navigating Uncertainty with Clarity

Join us on Thursday May 22, for an engaging in-person session for senior people and culture leaders. Our conversation will explore timely challenges and offer strategic insights on how organizations across the region…

Learn More
Learn More
Executive Partners