US bank JPMorgan Chase has announced £2.5 million in funding to support job opportunities for students from disadvantaged backgrounds in the UK.

The bank on Thursday said that it had renewed its commitment to the national body for careers education in England, The Careers & Enterprise Company (CEC), following a successful pilot.

The funding, the bank said, will scale the work to continue helping young people to make informed decisions about careers, build employability skills, and remain in education or training.

The pilot, launched in 2021, helped 1,000 young people to gain employability skills with the next phase promising to support an additional 1,500. The funding will continue and scale the work connecting secondary students from low income and disadvantaged backgrounds to coaching, work placements and experiences to develop their work-readiness skills and ensure that they can access their best next steps.

The bank said that the programme has engaged more than 145 employers, and increased awareness of how employer collaboration contributes to students' educational experience.

Alison Macpherson, head of recruiting for Global Technology, Digital, Data & Analytics, at JPMorgan Chase, said: "We know that connections with employers and work experience can open important doors for young people – providing them with the skills and confidence they need to unlock their potential and succeed in the professional world.”

Nicky Morgan, the former Secretary of State for Education and current chair of the CEC, said: “Our work with JPMorgan Chase is having a real impact on young people from low income or disadvantaged backgrounds, who face the biggest barriers and need the most support. But we must go further and that's what this renewed partnership will help to do."

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