JP Morgan Chase 2014 Annual Report Download - page 14

1212
I. AN OUTSTANDING FRANCHISE
Part of our mix of businesses, however, is
not unique. While we divide our company
into four distinct businesses, the truth
is that many regional banks do a lot of
what three of our four businesses do (i.e.,
Chase Consumer & Community Banking,
Commercial Banking and Asset Manage-
ment). The biggest dierence between us
and regional banks is our global Corpo-
rate & Investment Bank (and the non-U.S.
part of our Asset Management business).
Our broad product set and some of our
unique capabilities (some we inherited,
and some we built carefully over time),
combined with eective cross sell, create
substantial competitive advantage. The
examples below make some of those
advantages clear:
• Commercial Banking now generates
35% of our U.S. investment banking
business. This means we are able to
bring JPMorgan Chase’s exceptional
Investment Bank to serve hundreds
of midsized corporations and institu-
tions with the best global investment
banking products and services in the
industry. We can do this because our
Commercial Bank is in hundreds of
towns across the country where we can
serve clients locally – person to person
– and also bring the best of JPMorgan
Chase to them.
• Around the world, we can bring excep-
tional private banking services to CEOs
and company owners or help private
banking clients with their global
commercial banking needs.
• Because of our international footprint,
we bring global banking services –
from cash management to M&A – to
approximately 2,500 of our more than
20,000 Corporate Client Banking and
Middle Market Banking clients, who
are rapidly expanding overseas and
who need these services from someone
they know and can trust.
• We market Chase Paymentech, our
merchant acquirer, through our branches
to small businesses, through the Commer-
cial Bank to midsized companies and
through our Corporate & Investment Bank
to large, multinational corporations.
America’s financial system is still the best the
world has ever seen — it is large and diverse
— and it serves the best economy the world
has ever seen, which also is large and diverse
America’s financial system still is the best
the world has ever seen, and it includes not
just banks but asset managers, private equity,
venture capital, individual and corporate
investors, non-bank financial companies,
and public and private markets. In fact, in
the United States, banks are a much smaller
part of the financial system and the economy
than in most other countries. And there is a
great need for the services of all banks, from
large global banks to smaller regional and
community banks.
Our large global Corporate & Investment Bank
does things that regional and community banks
simply cannot do. We oer unique capabili-
ties to large corporations, large investors and
governments, including federal institutions,
states and cities. For example, we provide
extensive credit lines or raise capital for these
clients, often in multiple jurisdictions and in
multiple currencies. We essentially manage
the checking accounts for these large insti-
tutions, often in many dierent countries.
On the average day, JPMorgan Chase moves
approximately $6 trillion for these types of
institutions. On the average day, we raise or
lend $6 billion for these institutions. On the
average day, we buy or sell approximately
$800 billion of securities to serve investors
and issuers. In 2014, our Corporate & Invest-
ment Bank raised $61 billion for states, cities,
governments and universities, including
funds to renovate the historic Arthur Ashe
(Tennis) Stadium in New York City, revenue