JP Morgan Chase 2012 Annual Report Download - page 90

Management’s discussion and analysis
100 JPMorgan Chase & Co./2012 Annual Report
Selected metrics
Business metrics
As of or for the year ended
December 31, (in millions,
except headcount, ranking
data, ratios and where
otherwise noted) 2012 2011 2010
Number of:
Client advisors(a) 2,821 2,883 2,696
Retirement planning services
participants (in thousands) 1,961 1,798 1,580
% of customer assets in 4 & 5
Star Funds(b) 47% 43% 49%
% of AUM in 1st and 2nd
quartiles:(c)
1 year 67 48 67
3 years 74 72 72
5 years 76 78 80
Selected balance sheet data
(period-end)
Total assets $ 108,999 $86,242 $68,997
Loans(d) 80,216 57,573 44,084
Equity 7,000 6,500 6,500
Selected balance sheet data
(average)
Total assets $ 97,447 $76,141 $65,056
Loans 68,719 50,315 38,948
Deposits 129,208 106,421 86,096
Equity 7,000 6,500 6,500
Headcount 18,480 18,036 16,918
Credit data and quality
statistics
Net charge-offs $ 64 $ 92 $ 76
Nonaccrual loans 250 317 375
Allowance for credit losses:
Allowance for loan losses 248 209 267
Allowance for lending-related
commitments 510 4
Total allowance for credit
losses 253 219 271
Net charge-off rate 0.09% 0.18% 0.20%
Allowance for loan losses to
period-end loans 0.31 0.36 0.61
Allowance for loan losses to
nonaccrual loans 99 66 71
Nonaccrual loans to period-end
loans 0.31 0.55 0.85
(a) Effective January 1, 2012, the previously disclosed separate metric for
client advisors and JPMorgan Securities brokers were combined into
one metric that reflects the number of Private Banking client-facing
representatives.
(b) Derived from Morningstar for the U.S., the U.K., Luxembourg, France,
Hong Kong and Taiwan; and Nomura for Japan.
(c) Quartile ranking sourced from: Lipper for the U.S. and Taiwan;
Morningstar for the U.K., Luxembourg, France and Hong Kong; and
Nomura for Japan.
(d) Included $10.9 billion of prime mortgage loans reported in the
Consumer, excluding credit card, loan portfolio at December 31, 2012.
AM’s client segments comprise the following:
Private Banking offers investment advice and wealth
management services to high- and ultra-high-net-worth
individuals, families, money managers, business owners
and small corporations worldwide, including investment
management, capital markets and risk management, tax
and estate planning, banking, capital raising and
specialty-wealth advisory services.
Institutional brings comprehensive global investment
services – including asset management, pension analytics,
asset-liability management and active risk-budgeting
strategies – to corporate and public institutions,
endowments, foundations, non-profit organizations and
governments worldwide.
Retail provides worldwide investment management
services and retirement planning and administration,
through financial intermediaries and direct distribution of
a full range of investment products.
J.P. Morgan Asset Management has two high-level
measures of its overall fund performance.
• Percentage of assets under management in funds rated
4- and 5-stars (three years). Mutual fund rating services
rank funds based on their risk-adjusted performance
over various periods. A 5-star rating is the best and
represents the top 10% of industry-wide ranked funds. A
4-star rating represents the next 22% of industry wide
ranked funds. The worst rating is a 1-star rating.
• Percentage of assets under management in first- or
second- quartile funds (one, three and five years).
Mutual fund rating services rank funds according to a
peer-based performance system, which measures returns
according to specific time and fund classification (small-,
mid-, multi- and large-cap).