Bloomberg News has reported that JPMorgan Chase is giving its investment bankers iPads "to provide an additional mobile tool." The second-largest U.S. bank will distribute iPads free to all associates in its global investment banking division, according to a Nov. 24 e-mail obtained by Bloomberg News. Employees will get to keep the device as long as they remain at the unit until the pilot program ends on May 1, 2011.
"We believe there are real benefits in our working environment that can be realized using this device -- as well as the personal productivity and enjoyment that come as part of the package," two managing directors at New York-based JPMorgan said in the e-mail. Bankers will be able to access e-mails, contacts, calendar and attachments via Microsoft Outlook, as well as have the ability to mark-up and annotate confidential documents and make client presentations, according to the e-mail. They will also be allowed to download applications for personal use, according to the Bloomberg report.
This move is logical because JPMorgan as well as Morgan Stanley and Credit Suisse have all rolled out investment research applications for the iPad for their investment banking clients; Barclays is said to be planning such an application early next year. Why not let the bankers use the same devices clients are using?
J.P. Morgan unveiled its iPad app November 15, giving clients access to its investment bank research from their iPad. The app provides clients with reports and analysis from more than 1,000 analysts on economic indicators, markets, companies and asset classes around the world. Users can access content offline and receive instant alerts when new content they pre-select becomes available, the bank says.