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JPMorgan Chase & Co. is a leading financial services firm based in the United States with a global presence, offering a wide range of products and services across various segments . The company is organized into four major business segments, each catering to different client needs, including consumer banking, investment banking, commercial banking, and asset management . Through its diversified business model, JPMorgan Chase serves a broad spectrum of clients worldwide, leveraging its strong market positions to drive revenue growth and maintain a competitive edge in the financial services industry .
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Consumer & Community Banking (CCB) - Provides products and services to consumers and small businesses through bank branches, ATMs, digital platforms, and telephone banking, including Banking & Wealth Management, Home Lending, and Card Services & Auto .
- Banking & Wealth Management - Offers banking services and wealth management solutions to individual and small business clients .
- Home Lending - Provides mortgage and home equity lending services .
- Card Services & Auto - Offers credit card services and auto financing .
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Corporate & Investment Bank (CIB) - Offers investment banking, lending, payments, market-making, financing, custody, and securities products and services to corporate and institutional clients globally .
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Asset & Wealth Management (AWM) - Provides investment management solutions across equities, fixed income, alternatives, and money market funds to institutional and retail investors, along with retirement products, brokerage, custody, trusts, and estate services to high-net-worth clients .
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Commercial Banking (CB) - Delivers comprehensive financial solutions, including lending, payments, and investment banking services, primarily to middle-market clients, small and mid-sized companies, and commercial real estate clients .
| Name | Position | External Roles | Short Bio | Start Date |
|---|---|---|---|---|
Daniel E. Pinto ExecutiveBoard | President and Chief Operating Officer | None mentioned | Daniel Pinto has been the President and COO since January 2022. He will relinquish these responsibilities on June 30, 2025, and retire at the end of 2026. | January 2022 |
James Dimon ExecutiveBoard | Chairman of the Board and Chief Executive Officer | Member of the Board of Deans, Harvard Business School; Director, Catalyst; Member, Business Roundtable; Member, Business Council; Trustee, New York University School of Medicine | James Dimon has been the CEO since December 2005 and Chairman since December 2006. He joined JPMorgan Chase in 2004 after the merger with Bank One Corporation, where he was Chairman and CEO. | 2004 |
Jennifer A. Piepszak Executive | Chief Operating Officer | None mentioned | Jennifer Piepszak became the COO on January 14, 2025. She previously served as Co-CEO of the Commercial & Investment Bank and Co-CEO of Consumer & Community Banking. | January 14, 2025 |
Jeremy Barnum Executive | Chief Financial Officer | None mentioned | Jeremy Barnum has been the CFO since May 2021. He previously served as Head of Global Research for the Corporate & Investment Bank and CFO and Chief of Staff for CIB. | May 2021 |
Lori A. Beer Executive | Chief Information Officer | None mentioned | Lori A. Beer has been the CIO since September 2017. Her previous roles within JPMorgan Chase are not detailed in the documents. | September 2017 |
Marianne Lake Executive | CEO of Consumer & Community Banking | None mentioned | Marianne Lake has been the CEO of Consumer & Community Banking since January 2024. She has held various senior roles at JPMorgan Chase, including CFO from 2013 to 2019. | January 2024 |
Mary Callahan Erdoes Executive | CEO of Asset & Wealth Management | None mentioned | Mary Callahan Erdoes has been the CEO of Asset & Wealth Management since September 2009. She has held senior-level positions at JPMorgan Chase for an extended period. | September 2009 |
Robin Leopold Executive | Head of Human Resources | None mentioned | Robin Leopold has been the Head of Human Resources since January 2018. She previously served as the Head of HR for the Corporate & Investment Bank. | January 2018 |
Stacey Friedman Executive | General Counsel | None mentioned | Stacey Friedman has been the General Counsel since January 2016. Her previous roles within JPMorgan Chase are not detailed in the documents. | January 2016 |
Troy Rohrbaugh Executive | Co-CEO of the Commercial & Investment Bank | None mentioned | Troy Rohrbaugh became Co-CEO of the Commercial & Investment Bank on January 25, 2024. He previously served as Co-Head of Markets & Securities Services. | January 25, 2024 |
Alex Gorsky Board | Director | Board Member at Apple Inc. and IBM; Trustee at NewYork-Presbyterian Hospital | Alex Gorsky has been a Director since 2022. He is also involved with several other organizations. | 2022 |
Alicia Boler Davis Board | Director | CEO of Alto Pharmacy, LLC | Alicia Boler Davis has been a Director since March 20, 2023. She previously held senior roles at Amazon and General Motors. | March 20, 2023 |
Linda B. Bammann Board | Director and Chair of the Risk Committee | Board Member, Travis Mills Foundation; Senior Advisor, Brydon Education | Linda B. Bammann has been a Director since 2013 and serves as Chair of the Risk Committee. She has extensive experience in risk management. | 2013 |
Mark A. Weinberger Board | Director | Board Member at Johnson & Johnson, MetLife, Inc., Saudi Aramco; Trustee at Emory University, Case Western Reserve University | Mark A. Weinberger has been a Director since January 16, 2024. He is the former Global Chairman and CEO of Ernst & Young. | January 16, 2024 |
Mellody Hobson Board | Director | Co-CEO and President of Ariel Investments, LLC; Chair of Starbucks Corporation | Mellody Hobson has been a Director since 2018. She is also involved in various leadership roles outside JPMorgan Chase. | 2018 |
Phebe N. Novakovic Board | Director | Chairman and CEO of General Dynamics Corporation; Board Member at Cargill | Phebe N. Novakovic has been a Director since 2020. She has extensive experience in leadership roles at General Dynamics and other organizations. | 2020 |
Stephen B. Burke Board | Director | None mentioned | Stephen B. Burke is a Director and Retired Chairman and CEO of NBCUniversal, LLC. He has been a Director since 2013. | 2013 |
Todd A. Combs Board | Director | Chairman, President, and CEO of GEICO; Investment Officer at Berkshire Hathaway; Board Member at Precision Castparts Corp., Duracell Inc., Charter Brokerage LLC | Todd A. Combs has been a Director since 2016 and is involved in various roles at Berkshire Hathaway and its subsidiaries. | 2016 |
Virginia M. Rometty Board | Director | Board Member at Cargill; Member of Mitsubishi UFJ Financial Group Advisory Board | Virginia M. Rometty has been a Director since 2020. She is the retired Executive Chairman, President, and CEO of IBM. | 2020 |
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Given the increasing competition from private credit firms and changes in market structure, how is JPMorgan planning to adjust its strategies to maintain its competitive edge in market-making and traditional lending, especially when non-bank entities are not constrained by the same regulations?
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With Banking & Wealth Management revenue declining by 11% year-on-year due to deposit margin compression and lower deposits, what specific actions is JPMorgan taking to mitigate these pressures and reverse the trend of decreasing deposits, which are down 8% year-on-year?
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Despite having at least $30 billion of excess capital, why is JPMorgan choosing to be patient in deploying this capital, and how does this decision align with your long-term growth and shareholder return objectives in a potentially turbulent market environment?
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Considering the uncertainty surrounding the final Basel III capital requirements and your stance that current requirements may already be more than needed, how will this impact your capital planning, lending practices, and overall competitiveness, especially if regulations push more activities outside the banking sector?
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Jamie, you've expressed significant interest in government policy and its impact on the economy; under what circumstances, if any, would you consider transitioning from your role at JPMorgan to a government position, and how do you manage this interest alongside your commitment to the company?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
First Republic Bank | 2023 | JPMorgan Chase acquired First Republic Bank on May 1, 2023 for $67.9 billion, obtaining $173 billion of loans, $30 billion of securities, and assuming $92 billion of deposits while entering FDIC loss-share agreements, with expected incremental net income and $2.0 billion in restructuring costs. |
China International Fund Management Co., Ltd. (CIFM) | 2023 | JPMorgan Chase received final regulatory approval on March 24, 2023, to acquire the remaining 51% interest in CIFM, making it a wholly-owned subsidiary and increasing goodwill in its AWM segment, thereby expanding its presence in the Chinese market. |
Aumni | 2023 | JPMorgan Chase entered into a definitive agreement on March 22, 2023 and completed the acquisition of Aumni in Q2 2023, resulting in an estimated goodwill increase in its Corporate & Investment Bank segment while enhancing its investment analytics software capabilities. |
Global Shares | 2022 | JPMorgan Chase acquired Global Shares, an Irish fintech providing cloud-based share plan software, with the deal announced in March 2022 and expected to close in the second half of 2022 as part of a broader $1 billion fintech investment strategy aimed at expanding its digital offerings. |
Recent developments and announcements about JPM.
Earnings
New Earnings (Q4 2024)
·Jan 24, 2025, 12:13 AMView full earnings summary →JPM reported a robust 15.7% CET1 ratio and is boosting buybacks to manage excess capital. However, loan growth remains constrained by higher rates and declining card tailwinds, making the bank’s global consumer expansion and wealthy client focus critical for future earnings.
8-K Filings
8-K Filing
·Feb 19, 2025, 9:34 PMFinancial ExhibitsView full 8-K filing →JPMorgan reported record 2024 revenue of $180.6B and net income of $58.5B, with its quarterly dividend rising from $1.05 to $1.25/share. The Board approved CEO Dimon’s 2024 compensation at $39M, including a $1.5M base and performance incentives.