JP Morgan Chase

Company Overview

  Formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.
 JPMorgan Chase, in its current structure, is the result of the combination of several large U.S.
banking companies over the last decade including Chase Manhattan Bank, J.P. Morgan &
Co., Bank One, Bear Stearns and Washington Mutual. 
 Leader in financial services with assets of almost $2 trillion and largest market cap
 Third largest deposit base U.S. banking institution behind Wells Fargo and Bank of America
 They had 220,452 employees in 2009
 Its headquarters are located in Manhattan, New York

Vision

Our company was built with hard work over 200 years. We would like to create a company that all can
be proud of, and we are confident that, working together, we will build the best financial services
company in the world.

Business Principles

 Aspire to be the best

o Develop a world-class franchise in every business we operate
o Be field- and client-driven, consistently delivering the best products and services in a
cost-effective way
o Innovate, test and learn
o Create powerful brands that carry a commitment of quality and integrity

 Execute superbly
o Demand and maintain strong financial discipline, building for good times and bad
o Create and maintain a fortress balance sheet
o Design and maintain the best systems and operations
o Eliminate waste and bureaucracy
o Maintain a strong system of internal governance and controls
o Measure performance through a complete and balanced scorecard

 Build a great team and a winning culture

o Operate with the highest standards of integrity
o Train and retain great managers
o Be open and honest with ourselves, our colleagues, our shareholders and our
communities
 o Get incentives right
o Foster an environment of respect and inclusiveness
o Give back to our communities

Management Team

 James Dimon - Chairman and Chief Executive Officer

 Michael J. Cavanagh - CFO
 Frank J. Bisignano - Chief Administrative Officer
 Charles W.Scharf - CEO Retail Financial Services
 Gordon A.Smith - CEO Card Services
 Barry L. Zubrow - Chief Risk Officer

Business Overview
JPMorgan Chase’s activities are organized, for management reporting purposes, into six business
segments
 Investment Bank
o Investment banking: advisory; debt and equity underwriting
o Market making and trading: Fixed income, Equity
 Corporate lending
 Principal investing

 Retail Financial Services

o Regional banking: Consumer and business banking; home lending; education lending
o Mortgage banking
o Auto finance

 Card Services
o Credit cards
o Merchant acquiring

 Commercial Banking
o Middle market banking
o Mid-corporate banking
o Real estate banking
o Chase business credit
o Chase equipment leasing
o Chase Capital Corporation

 Treasury & Securities Services

 o Treasury Services (Global Trade, Core Cash Management, Liquidity, Import/Export Advisory)
o Investor Services
o Clearance and Agency

 Asset Management
o Investment Management
o Private Bank
o Private Wealth Management
 Corporate - Includes the company's private equity; One Equity Partners, Treasury and Corporate
functions.

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Competitors

 Bank of America
 Citigroup
 Wells Fargo
 Barclays
 American Express
 Goldman Sachs
 Morgan Stanley

Subsidiaries/Parent Company
JPMorgan Chase & Co. owns five bank subsidiaries in the United States:

 Chase Bank USA, National Association

 JPMorgan Chase Bank, National Association

 JPMorgan Chase Bank, Dearborn

 J.P. Morgan Trust Company, National Association

 Custodial Trust Company

Financials

Financial Overview

 Market Capitalization of US $ 151.18 billion as of Feb. 3, 2010

 Posted a net profit of $3.3 billion in the three months ended Dec. 31, 2009 as against $702
million a year earlier
 Group net-worth of over $ 165.3 billion
 Ranked #1 in Global Investment Banking Fees for full-year 2009
 Completed Washington Mutual integration and maintained solid growth in Retail Banking,
opening more than 6 million new checking accounts in 2009
 Delivered solid fourth-quarter results in other businesses, including Asset Management and
Commercial Banking
 Credit costs remained high: added $1.9 billion to consumer loan loss reserves, resulting in firm-
wide credit reserves of $32.5 billion and loan loss coverage ratio of 5.5%1
 Balance sheet strengthened further: Tier 1 Capital of $133.0 billion, or 11.1%, and Tier 1
Common1 of $105.3 billion, or 8.8% (estimated), at year-end
 Continued focus on sound lending and efforts to prevent foreclosures:

o Extended more than $600 billion in new credit during 2009 to consumers, corporations,
small businesses, municipalities and non-profits (including more than 18 million card,
home equity, mortgage, auto and education loans)

o Launched new initiative during the quarter to expand lending to small businesses by up
to $4 billion in 2010; adding 325 small-business bankers and 100 middle- market
bankers to support increased lending

o Extended offers to modify approximately 600,000 mortgages and approved 120,000

modifications during the year
 Credit Ratings
JPMorgan Chase & Co.
Moody's S&P Fitch
Outlook Negative Negative Stable
Commercial paper P-1 A-1 F1+
Senior unsecured Aa3 A+ AA-
Subordinated A1 A A+
Junior subordinated A1 A- A+
Preferred stock A2 BBB+ A+
 JPMorgan Chase Bank, N.A. and Chase Bank USA, N.A.

  Moody's S&P Fitch

Short-term deposits/debt P-1 A-1+ F1+
Long-term deposits/debt Aa1 AA- AA-

Last Quarter Ended 30th Dec 2009

 Net revenue of $25.2 billion, up by $6.1 billion over same quarter last year
 PBT of $3.9 billion
 Net profit of $3.3 billion, up by $367 million over last year
 Retail segment was the highest revenue generator at followed by IB, Card Services, Asset
Management, Corporate/Private Equity, Treasury & Commercial Banking
 Diluted EPS of $0.74, as against $0.06 for same quarter in FY08

Last Annual Financial Statement for FY 2009

 Net revenue of $108.6 billion as against $72.7 billion for FY08

 PBT of $16 billion as against $2.7 billion for FY08
 Net income of $11.7 billion, up from $5.6 billion for FY08
 Diluted EPS of 2.26 as against 1.35 for FY08

Stock Market Details & Financial Ratios

Financial Ratios March 09 (%)
Particular Value
Operating Profit Margin (%) 16.0
NYSE $38.35 (as of
Feb 4, 2010) Net Profit Margin (%) 11.6
Market Cap $151.18 B Debt to Assets ratio 37.68
EPS $2.23 ROA 0.55
P/E 17.17 ROE 5.95
P/Sales 2.32 Debt to Equity 60.46
Price/Book 1.18 Current Ratio 0.91
Div Yield 0.50% Quick Ratio 0.91

HR Initiatives/CSR Initiatives
“At JPMorgan Chase, corporate responsibility is about what we do every day in our businesses and how
we do it. We are committed to managing our businesses to create value for our consumer and corporate
clients as well as our shareholders, communities and employees and to being a responsible corporate
citizen.”
The CSR activities are directed towards
 Serving consumers
 Serving institutions
 Community development - work with community-based partners to address issues related to
poverty and social exclusion by building economic infrastructure, promoting self-sufficiency, and
supporting efforts to narrow social inequities
o Expanding access to capital
o Leadership by example
o Leveraging the many resources of JPMorgan Chase
 Global philanthropy – Community Development, Education, Arts & Culture
 Diversity - "Building a workplace where differences are respected and valued is critical to our
future. We have an amazing opportunity in front of us to build the best financial services
company in the world. Achieving this depends on having the best people doing their best work."
 Environment - JPMorgan Chase recognizes that the health of the economy rests on the health of
the planet. Our goal is to make a positive contribution to sustainability by integrating
environmental principles into our business model.
 Human Rights - JPMorgan Chase supports fundamental principles of human rights across all our
lines of business and in each region of the world in which we operate. JPMorgan Chase's respect
for the protection and preservation of human rights is guided by the principles set forth in the
United Nations Universal Declaration of Human Rights.

Milestones
 1991 - Chemical Banking Corp. combined with Manufacturers Hanover Corp., keeping the name
Chemical Banking Corp., then the second-largest banking institution in the United States.
 1995 - First Chicago Corp. merged with National Bank of Detroit's parent NBD Bancorp., forming
First Chicago NBD, the largest banking company based in the Midwest.
 1996 - Chase Manhattan Corp. merged with Chemical Banking Corp., creating what was then the
largest bank holding company in the United States.
 1998 - Banc One Corp. merged with First Chicago NBD, taking the name Bank One Corp. Merging
subsequently with Louisiana's First Commerce Corp., Bank One became the largest financial
services firm in the Midwest, the fourth-largest bank in the U. S. and the world's largest Visa
credit card issuer.
 2000 - J.P. Morgan & Co. merged with Chase Manhattan Corp., in effect combining four of the
largest and oldest money center banking institutions in New York City (J.P. Morgan, Chase,
Chemical and Manufacturers Hanover) into one firm called J.P. Morgan Chase & Co.
 July 2004 - J.P. Morgan Chase & Co. and Bank One Corp. merged to form today's JPMorgan
Chase & Co.
  April 2006 - JPMorgan Chase announced it would swap its corporate trust unit for The Bank of
New York Co.'s retail and small business banking network. The swap valued The Bank of New
York business at $3.1 billion and JPMorgan's trust unit at $2.8 billion and gave Chase access to
338 additional branches and 700,000 new customers in New York, New Jersey, and Indiana.
 March 2008 - JPMorgan Chase acquired Bear Stearns in a stock swap worth $2.00 per share

 March 2008 - JPMorgan acquired the UK-based carbon offsetting company ClimateCare.

 September 25, 2008 - JPMorgan Chase bought most of the banking operations of Washington
Mutual from the receivership of the FDIC.
 November 2009 - JPMorgan announced it would acquire the balance of JPMorgan Cazenove, an
advisory and underwriting joint venture established in 2004 with the Cazenove Group, for GBP1
billion

Awards/Recognitions
 Top 50 Companies for Diversity by DiversityInc magazine. 2009 and previous eight years running
 50 Out Front Companies for Diversity Leadership: Best Places for Diverse Managers to Work by
DiversityMBA Magazine. 2009
 Named to "Diversity Elite" list by Hispanic Business Magazine. 2009 and previous two years
running
 Top Companies for Executive Women by Working Mother magazine. 2009
 Top 50 companies for Latinas by LATINA Style magazine. 2009 and previous eight years running
 Most Admired Companies by Fortune magazine, 2009
 World's Most Influential Companies by BusinessWeek magazine. 2008
 Top 10 Best Places to Launch a Career by BusinessWeek magazine. 2008
 Top 10 Companies for Recruiting and Retention by DiversityInc magazine. 2009
 Top 10 Companies for Retention Practices & Recruiting Strategies by DiversityMBA magazine.
2009
 Top 10 Companies for African Americans by DiversityInc magazine. 2009
 Top 50 Employers for Women in U.K. by The Times newspaper. 2008 and previous two years
 Top Companies for Multicultural Women by Working Mother magazine. 2008 and previous four
years running
 Top 5 Companies for Diverse MBAs by DiversityMBA magazine. 2008
 Top 100 Companies for Working Parents by Working Mother magazine for 2008 and previous
13 years.
 100% rating on the Corporate Equality Index, measuring treatment of gay, lesbian, bisexual and
transgender employees and customers. Perfect score since inception of this recognition in 2001.
 Top 10 Adoption-Friendly Workplaces by the Dave Thomas Foundation for Adoption. 2008 and
2007

Recent News/Events
  January 14, 2010 - Following a devastating earthquake in Haiti this week that resulted in yet
untold casualties and severe infrastructure damage, JPMorgan Chase announced today that it
would commit $1 million to the relief and recovery of the country and encourage employees to
contribute to the rescue efforts.
 January 13, 2010: JPMorgan Chase Chairman and CEO Jamie Dimon testified in Washington, DC
on the causes of the financial crisis and the bank's focus on risk management, responsible
lending and disciplined capital and liquidity management.
 December 18, 2009: Mayor Richard M. Daley said today that Chase is donating $2.25 million to
provide 90 state-of-the-art security cameras at 40 public high school campuses across the city.
The cameras will be installed outside the high schools and send live feeds to Chicago's Office of
Emergency Management and Communications Center.
 December 8, 2009 - JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly dividend of 5 cents
per share on the outstanding shares of the Corporation's common stock.  The dividend is
payable on January 31, 2010, to stockholders of record at the close of business on January 6,
2010.
 November 16, 2009 - For the first time ever, Facebook®: users will be able to choose from more
than 500,000 small and local charities to decide which community organizations they want to
receive donations totaling millions of dollars from a corporate philanthropy fund. Chase and
Facebook today announced the launch of Chase Community Giving: You Decide What Matters, a
grassroots campaign to inspire a new way of corporate philanthropy.

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