On May 2, 2022, JPMorgan Chase & Co. confirmed the acquisition of Frosch Travel Group (“FROSCH”) in a filing with the U.S. Securities and Exchange Commission.
FROSCH operates as a distinct brand within JPMorgan Chase’s Consumer & Community Bank, with continued leadership from FROSCH President & CEO, Bryan Leibman. The integration of FROSCH continues to happen over time with no disruption to existing business operations or to client and customer services.
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I’m very proud to join one of the most recognized and respected brands in the world. Our interest is aligned, and JPMorgan Chase is committed to all our employees, independent contractors and customer sectors.
BRYAN LEIBMAN • President & CEO, FROSCH
FROSCH is thrilled about JPMorgan Chase’s acquisition of the agency • Travel Weekly
“The JPMorgan Chase acquisition gives FROSCH access to new resources, including enhanced cybersecurity, a critical component especially for corporate and entertainment clients.
‘They want us to continue to do what we do best, to service and support, but they’re providing us tremendous resources to uplift us to be able to have scale and provide stability and security.’ Leibman said.”
Together, with our family of brands, we will continue to deliver exceptional customer service and meaningful travel experiences to our clients.
Both FROSCH and JPMorgan Chase share fundamental beliefs around creating connections, inspiring exploration, as well as commitment to customer experience. These synergies align with creating exceptional experiences, which will form the basis of a dynamic partnership and opportunities as we continue to expand. Read more about the acquisition and FROSCH’s exciting future below.
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Delivering exceptional travel experiences is foundational to Chase’s goal of engaging with our customers more deeply and holistically. FROSCH and their associated brands are essential to this goal, delivering high quality, first-class experiences that leave a lasting impression and create customers for life.
JASON WYNN • HEAD OF CHASE TRAVEL
Newly Acquired by JPMC, FROSCH Goes Into Growth Mode • Business Travel News
“In a broad sense, JPMC brings our clients some tremendous resources and expertise in areas like data security, [environmental and social governance] and obviously payments that we are very excited about. They are looking to grow all the different parts of our business—including all the segments we talk about as corporate travel, whether that’s entertainment or energy to our end-to-end services and consulting, which is where our TCG advisory business comes in. There’s a commitment by JPMC to maintain all the FROSCH brands and to build all our lines of business—leisure as well as corporate.”
As FROSCH continues to integrate into JPMorgan Chase, our valued clients can expect the same levels of service they are used to PLUS a whole new suite of benefits and capabilities.
The scale and footprint of JPMorgan Chase enables FROSCH to significantly uplift our infrastructure growing from both a global and local perspective as well as enhancing our data and cybersecurity practices to meet the JPMorgan Chase’s industry-leading standards. As we continue to integrate, our leisure clients will enjoy new benefits and innovative digital experiences to enhance their experience, while our business travel clients will have access to truly end-to-end programs with fully-integrated payment solutions.
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Providing a first-class end-to-end travel solution for consumers and small businesses has been part of our long-term strategy. FROSCH is the perfect complement to our current platform and will help us serve even more of our customers and clients.
Marianne Lake • Co-CEO of Chase
Chase to Launch Consumer Travel Portal; Claims Top 5 U.S. Travel Provider With $8 Billion in Sales • Skift
“Travel has been the center of gravity for our Ultimate Rewards program for a decade, and remains the most aspirational lifestyle category for many of our customers. And we partner with some of the most admired brands in the travel industry. Travel is at the center of our card business.
In terms of U.S. leisure travel, $1 in every $4 spent is on a Chase Card, and $1 in every $3 spent is by a Chase customer. And the stats for dining are quite similar. But only a small percentage of this spend went through our platform because our assets were not differentiated. But despite that, in 2019, we were already a top 15 travel provider.
We saw an opportunity during the pandemic to own our own destiny in travel, and we acquired cxLoyalty, a proprietary, two-sided travel platform, and Frosch, itself a top ten leisure travel agency, providing us now with the booking engine, the content, the servicing excellence and the concierge capabilities that our customers should expect. And today, we estimate we are a top five US consumer travel provider.”
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