JP Morgan Chase 2013 Annual Report Download - page 101

JPMorgan Chase & Co./2013 Annual Report 107
Selected metrics
Business metrics
As of or for the year ended
December 31, (in millions,
except headcount, ranking
data, ratios and where
otherwise noted) 2013 2012 2011
Number of:
Client advisors 2,962 2,821 2,883
% of customer assets in 4 & 5
Star Funds(a) 49% 47% 43%
% of AUM in 1st and 2nd
quartiles:(b)
1 year 68 67 48
3 years 68 74 72
5 years 69 76 78
Selected balance sheet data
(period-end)
Total assets $122,414 $108,999 $ 86,242
Loans(c) 95,445 80,216 57,573
Deposits 146,183 144,579 127,464
Equity 9,000 7,000 6,500
Selected balance sheet data
(average)
Total assets $113,198 $ 97,447 $ 76,141
Loans 86,066 68,719 50,315
Deposits 139,707 129,208 106,421
Equity 9,000 7,000 6,500
Headcount 20,048 18,465 18,036
Credit data and quality
statistics
Net charge-offs $ 40 $ 64 $ 92
Nonaccrual loans 167 250 317
Allowance for credit losses:
Allowance for loan losses 278 248 209
Allowance for lending-
related commitments 55 10
Total allowance for credit
losses 283 253 219
Net charge-off rate 0.05% 0.09% 0.18%
Allowance for loan losses to
period-end loans 0.29 0.31 0.36
Allowance for loan losses to
nonaccrual loans 166 99 66
Nonaccrual loans to period-
end loans 0.17 0.31 0.55
AM firmwide disclosures(d)
Total net revenue $ 13,391 $ 11,443 $ 10,715
Client assets (in billions)(e) 2,534 2,244 2,035
Number of client advisors 6,006 5,784 6,084
(a) Derived from Morningstar for the U.S., the U.K., Luxembourg, France,
Hong Kong and Taiwan; and Nomura for Japan.
(b) 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.
(c) Included $18.9 billion, $10.9 billion and $2.1 billion of prime
mortgage loans reported in the Consumer, excluding credit card, loan
portfolio at December 31, 2013, 2012 and 2011, respectively. For the
same periods, excluded $3.7 billion, $6.7 billion and $13.0 billion of
prime mortgage loans reported in the CIO portfolio within the
Corporate/Private Equity segment, respectively.
(d) Includes Chase Wealth Management (“CWM”), which is a unit of
Consumer & Business Banking. The firmwide metrics are presented in
order to capture AM’s partnership with CWM. Management reviews
firmwide metrics in assessing the financial performance of AM’s client
asset management business.
(e) Excludes CWM client assets that are managed by AM.
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).