Skip to content
Subscriber Only

Fraternity Chief Feared for Son as Hazings Spurred JPMorgan Snub

Early this month, JPMorgan Chase & Co. stopped managing an investment account for a prominent client: the charitable foundation of Sigma Alpha Epsilon, one of the U.S.’s largest fraternities.

The bank was concerned about SAE’s bad publicity, according to Anthony Alberico, a JPMorgan vice president who dealt with the foundation. SAE has had 10 deaths linked to drinking, drugs and hazing since 2006, more than any other fraternity.