JP Morgan Chase 2010 Annual Report Download - page 45

43
Through our Community Devel-
opment Banking group, we also
committed nearly $1.5 billion to
create and retain more than 12,000
units of aordable housing for
low- and moderate-income families.
2011 Priorities: U.S. and Global
Market Expansions and an Even
Higher Cross-Sell Target
While we are pleased with our track
record of strong performance, we
are even more enthusiastic about
what lies ahead. We are actively
pursuing four key areas of growth:
U.S. Market Expansion – Cali-
fornia, Washington, Oregon, Florida
and Georgia represent attractive
new growth markets for us. With
over 250 dedicated resources
in place, this expansion is well
under way and has the potential
to generate more than $1 billion in
additional revenue for Commer-
cial Banking. We also have over
40 commercial bankers covering
key markets outside our branch
footprint, including Philadelphia,
Boston, Washington D.C.,
St. Louis and Minneapolis.
International Growth – As
U.S. companies increase global
commerce, serving their commercial
banking needs has become a key
dierentiator that sets us apart from
the competition. Since 2005, we
have added more than 1,400 clients
outside the United States and will
continue to increase our oce and
branch locations around the world as
our customers expand their reach.
Investment Banking – Six years ago,
we set a target of $1 billion in revenue
from IB products sold to commercial
clients. Since that time, we have more
than doubled this revenue, achieving
$1.3 billion in gross IB revenue in 2010.
We are confident that we will continue
to gain share and have set a new goal
of $2 billion in gross IB revenue within
the next five years.
Commercial Real Estate – Finally,
we are seeing improved opportuni-
ties in each of our three real estate
businesses: Commercial Term
Lending, Real Estate Banking and
Community Development Banking.
Through the most recent cycle
of market stress, we significantly
outperformed our peers, giving us
the confidence and resolve to capi-
talize on future real estate demand.
As we move forward, we will dili-
gently maintain our conservative
underwriting approach and prudent
risk management so that we are able
to grow our real estate portfolios
responsibly as the market recovers.
As I look back over the last few years,
I am very pleased with Commercial
Banking’s progress since the merger.
Together, we have achieved an unpar-
alleled combination of competitive
advantages: exceptional people, critical
branch footprint, product and service
superiority, capital strength and large
scale. All our accomplishments, both
past and present, not only validate
our status as an industry leader but
also position us to continue to meet
the needs of our clients and grow our
business well into the future.
Todd Maclin
CEO, Commercial Banking
2010 Highlights and Accomplishments
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 
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Gross Investment Banking
Revenue

200
0
400
600
800
1,000
2005 2010
1,200
$1,400
$552
$1,335
142%