JPMorgan Confirms iPad Distribution, Bloomberg Reports

JPMorgan Chase & Co. is set to distribute complimentary iPads to every member of its global investment banking team, as reported by an email obtained by Bloomberg.

This initiative, which will run as a trial until May 2011, allows bankers to evaluate the effectiveness of the iPad as a business tool and enjoy its benefits for personal use as well.

“The integration of this device is expected to bring substantial advantages to our work settings, alongside enhancing personal productivity and enjoyment,” stated two managing directors from JPMorgan in New York via the email.

This move is part of a broader trend where Wall Street is gradually transitioning from BlackBerry to more modern solutions like the iPhone and iPad, with Apple aggressively making inroads into the corporate sector.

Recent developments have seen financial giants such as Morgan Stanley and Credit Suisse Group AG launching their own iPad applications, while Citi Group and Bank of America are contemplating adopting the iPhone for their staff, according to Bloomberg.

“Apple is now a significant threat to RIM. For the first time, there’s a strong alternative to BlackBerry’s secure mobile communications, and we’re observing a significant shift towards Apple’s devices,” commented Brian Marshal, an analyst at Gleacher & Co.

Meanwhile, RIM is gearing up to launch the BlackBerry PlayBook, promoted as a formidable rival to the iPad.

Despite its potential, it remains to be seen if it can compete effectively with the upcoming iPad 2, expected early next year, and whether it can sway the BlackBerry loyalists on Wall Street to wait for its release.

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Robert

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