Feb 19 - JPMorgan has held discussions about supplying banking services to the U.S.-led Board of Peace, the Financial Times said on Thursday, citing people familiar with the matter.
The conversations reportedly covered functions such as handling payments to and from the board. Reuters could not immediately verify the FT report. The White House and JPMorgan did not immediately respond to requests for comment, according to the report.
Context and tensions
The account of talks between the bank and the board arrives against a backdrop of strained relations between former President Donald Trump and JPMorgan. Last month, Trump filed a $5 billion lawsuit alleging that the bank and its chief executive Jamie Dimon closed several of his personal and business accounts for political reasons. The FT said its piece was published while those tensions remain unresolved.
Board of Peace meeting
Trump is scheduled to preside over the Board of Peace's first meeting later on Thursday. Delegations from 47 countries, along with a delegation from the European Union, are expected to attend. President Trump first proposed the Board of Peace in September 2025. The body was conceived to oversee Gaza's temporary governance, with later statements indicating an intention to expand its remit to other conflicts - a move some experts say could affect the role of multilateral institutions.
Market and investor considerations
The FT's report focuses on the potential operational role a major commercial bank might play in facilitating reconstruction-related payments for a new international body. Any arrangement would involve detailed operational, compliance, and risk-management work to process and track funds for reconstruction efforts.
The report also notes the persistent legal dispute between Trump and JPMorgan, which could shape perceptions and the practicalities of any banking relationship with an initiative closely linked to Trump.
Promotional note included in the original report
The original article included a promotional segment describing ProPicks AI, which evaluates companies including JPMorgan using multiple financial metrics and highlights past winners such as Super Micro Computer (+185%) and AppLovin (+157%). That segment offered readers a prompt about whether JPMorgan appears in any AI-generated strategies.