Middle Market Growth Conversations The Rise of ESOPs: What the Midmarket Needs to Know
Oct 24, 2025
Regina Carls, Managing Director at J.P. Morgan and founder of the ESOP Advisory Group, shares her 33 years of expertise on employee stock ownership plans. She debunks myths about ESOPs, emphasizing their tax advantages and flexibility for middle-market firms. The rising popularity of ESOPs is attributed to tax policies, legacy motives, and positive community impact. Regina also highlights common industries where ESOPs thrive, offering actionable advice for companies considering this ownership structure.
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From Loan Officer To ESOP Leader
- Regina Carls started at JPMorgan Chase through a loan officer training program and later built the ESOP advisory group.
- Her team partners nationally to educate bankers and clients and support ESOP transactions end-to-end.
Early Summer Job Shaped Work Ethic
- Regina's first job was detasseling corn which taught her the value of hard work and education.
- She credits that early labor with instilling the ethic that "you get out of it what you put into it."
Flexible Ownership Transition Tool
- ESOPs let owners sell partial or full ownership to employees while staying involved if desired.
- The structure is flexible and can be customized to the owner's goals and company needs.