JP Morgan Chase 2013 Annual Report Download - page 328

Notes to consolidated financial statements
334 JPMorgan Chase & Co./2013 Annual Report
Note 33 – Business segments
The Firm is managed on a line of business basis. There are
four major reportable business segments – Consumer &
Community Banking, Corporate & Investment Bank,
Commercial Banking and Asset Management. In addition,
there is a Corporate/Private Equity segment. The business
segments are determined based on the products and
services provided, or the type of customer served, and they
reflect the manner in which financial information is
currently evaluated by management. Results of these lines
of business are presented on a managed basis. For a
definition of managed basis, see Explanation and
Reconciliation of the Firm’s use of non-GAAP financial
measures, on pages 82–83 of this Annual Report. For a
further discussion concerning JPMorgan Chase’s business
segments, see Business Segment Results on pages 84–85 of
this Annual Report.
The following is a description of each of the Firm’s business
segments, and the products and services they provide to
their respective client bases.
Consumer & Community Banking
CCB serves consumers and businesses through personal
service at bank branches and through ATMs, online, mobile
and telephone banking. CCB is organized into Consumer &
Business Banking, Mortgage Banking (including Mortgage
Production, Mortgage Servicing and Real Estate Portfolios)
and Card. Consumer & Business Banking offers deposit and
investment products and services to consumers, and
lending, deposit, and cash management and payment
solutions to small businesses. Mortgage Banking includes
mortgage origination and servicing activities, as well as
portfolios comprised of residential mortgages and home
equity loans, including the PCI portfolio acquired in the
Washington Mutual transaction. Card issues credit cards to
consumers and small businesses, provides payment services
to corporate and public sector clients through its
commercial card products, offers payment processing
services to merchants, and provides auto and student loan
services.
Corporate & Investment Bank
CIB offers a broad suite of investment banking, market-
making, prime brokerage, and treasury and securities
products and services to a global client base of
corporations, investors, financial institutions, government
and municipal entities. Within Banking, the CIB offers a full
range of investment banking products and services in all
major capital markets, including advising on corporate
strategy and structure, capital-raising in equity and debt
markets, as well as loan origination and syndication. Also
included in Banking is Treasury Services, which includes
transaction services, comprised primarily of cash
management and liquidity solutions, and trade finance
products. The Markets & Investor Services segment of the
CIB is a global market-maker in cash securities and
derivative instruments, and also offers sophisticated risk
management solutions, prime brokerage, and
research. Markets & Investor Services also includes the
Securities Services business, a leading global custodian
which holds, values, clears and services securities, cash and
alternative investments for investors and broker-dealers,
and manages depositary receipt programs globally.
Commercial Banking
CB delivers extensive industry knowledge, local expertise
and dedicated service to U.S. and U.S. multinational clients,
including corporations, municipalities, financial institutions
and non-profit entities with annual revenue generally
ranging from$20 million to $2.0 billion. CB provides
financing to real estate investors and owners. Partnering
with the Firm’s other businesses, CB provides
comprehensive financial solutions, including lending,
treasury services, investment banking and asset
management to meet its clients’ domestic and international
financial needs.