[stock JPM][/stock] recently discovered a great way to promote its new JPMorgan Research iPad app
— simply give every single one of its investment bankers an iPad so they can access it.
If this doesn't strike you as true genius, it's time to rethink strategy. Not only is JPMorgan doing a little bit of shameless marketing, it's distributing iPads for the betterment of Wall Street (aww, how heartwarming).
In an article by Investment News two managing directors for the banking giant said: "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."
Yeah, personal enjoyment for employees, as JPMorgan rakes in profits from selling its research. You know each one of those iPads is coming standard with the research app. Too bad that's the only free part about it.
Don't get me wrong, there are tons of beneficial things about the app, such as the ability to store downloaded research and access it without an Internet connection. I'm just not sure the iPad is essential for Wall Street business. But at least in beats paying a 50% tax on cold, hard Christmas bonus cash — the standard in the City of London.
Then again, who's going to argue with a shiny new toy?
Write to Christine Ricciardi
Disclosure: The author holds no relevant investments.