JP Morgan Chase 2010 Annual Report Download - page 49

47
• Third,wehavetocontinuetoinvest
in local delivery of our products
and services to the myriad markets
we serve, especially in our under-
penetrated international markets.
Throughout our more than 175 years
of constant evolution and expan-
sion, what never has changed is our
commitment to delivering “first-
class business in a first-class way.”
Whether we are investing assets,
providing trust and estate services
or lending money, we take our
responsibility to clients very seri-
ously. Clients come to us because
we deliver best-in-class investment
management. But clients stay with
us because they trust we always will
uphold our obligations to them.
We look forward to continuing to
invest in the best people and tech-
nology to provide superior invest-
ment advice to our clients around
the world for generations to come.
Mary Callahan Erdoes
CEO, Asset Management
 
 Pensions &
Investments
 

Absolute Return
 

Strategic Insight
 

The Asset
 



 -

 

 -


 

Institutional Investor
 

 Institutional Investor
2010 Highlights and Accomplishments
In retail distribution, we increased
our sales teams by 20% across the
United States; Europe, Middle East
and Africa; and Asia Pacific.
Finally, in the investment arena,
as part of our commitment to
increasing local coverage in
important emerging markets, we
purchased a majority stake in Gávea
Investimentos, a leading alternative
investments company in Brazil run
by Arminio Fraga, former presi-
dent of the Central Bank of Brazil.
Through its hedge funds, private
equity and longer-term investments,
and wealth management services,
Gávea invests across both emerging
and broader international markets,
with a macroeconomic, research-
intensive investment process.
This transaction was particularly
important as our clients are increas-
ingly looking to access Brazil’s
rapidly growing economy. Together
with Gávea, we now can provide our
clients with a powerful combination
of local emerging markets expertise
and a global platform. We’ve had the
pleasure of getting to know Arminio
over the last decade as he’s served
on J.P. Morgan’s International Council.
During that time, I’ve seen firsthand
the unique perspective he and his
team bring to investment decisions in
Brazil, as well as the government expe-
rience the team applies to macroinvest-
ment decisions. I’m thrilled that our
clients globally now are able to benefit
from Gávea’s investment expertise.
Strategic Priorities for 2011
Our success ultimately is measured
by our ability to generate superior
risk-adjusted returns for our clients
over the long term and across busi-
ness cycles. With very strong and
consistent investment performance
across most products, our priorities
are focused on three areas that will
further strengthen our leadership:
• First,wemustmaintainourstrong
investment performance in existing
products and improve any areas of
underperformance.
• Second,weneedtocontinueto
maintain our leadership position in
innovation of new products and bring
creative ideas quickly to market, espe-
cially in an increasingly global and
interconnected environment.
0
500
20102005
Institutional Retail Private
Banking
1-year
basis
3-year
basis
5-year
basis
Total assets under management in 1st/2nd quartiles
1,000
$420
$245
$484
$687
$422
$731
$1,149
$1,840
1,500
$2,000
80%
70
60
50
40
30
20

CAGR: 10%
Five-Year
Growth
Rate:
60%
Assets Under Supervision —
2005 to 2010

(in billions)
Global Mutual Fund
Performance Metrics

(percentage)
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2009 2010 2009 2010 2009 2010
0
500
20102005
Institutional Retail Private
Banking
1-year
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3-year
basis
5-year
basis
Total assets under management in 1st/2nd quartiles
1,000
$420
$245
$484
$687
$422
$731
$1,149
$1,840
1,500
$2,000
80%
70
60
50
40
30
20

CAGR: 10%
Five-Year
Growth
Rate:
60%
Assets Under Supervision —
2005 to 2010

(in billions)
Global Mutual Fund
Performance Metrics

(percentage)
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2009 2010 2009 2010 2009 2010
Assets under Supervision —
2005 to 2010


Global Mutual Fund
Performance Metrics
(percentage)
