JP Morgan Chase 2013 Annual Report Download - page 46

44
Our people
The strength of our business starts
and ends with our people – integrity,
fortitude, compassion and partner-
ship are the values they bring to
work every day. These are what
power our long-standing relation-
ships and drive our success. Our
1,300 bankers1, who average more
than 20 years of experience, have
deep local perspective and tested
credit judgment.
Across Commercial Banking, our
nearly 7,000 employees are dedicated
to their communities, working with
chambers of commerce, sitting on
local boards, and staying active in
school and service organizations.
Over the past year, our people have
made a dierence in many ways,
including volunteering their time to
provide job counseling to military vet-
erans, serving meals to families at a
Ronald McDonald house in Chicago,
stung backpacks for underprivi-
leged children in Dallas and painting
a community center in Brooklyn. I am
inspired by our team’s passion for
their clients and communities.
Our model
Commercial Banking’s proven busi-
ness model provides the flexibility to
manage challenging market condi-
tions, regulatory changes and evolv-
ing client needs. Experienced teams
in 29 states, 119 U.S. cities and 13
major international locations give us
broad reach, and we serve approxi-
mately 59,000 clients, owners and
investors in more than 40 of the top
50 U.S. metropolitan areas. Our
bankers understand their markets,
which enables them to make deci-
sions locally and react quickly and
proactively for clients. Rigorous
client selection is one of the pillars
of our model and results in a high-
quality client base. Our industry
expertise coupled with our local
perspective allow us to select the
best clients in the markets we serve.
Being a part of JPMorgan Chase
means we can oer a broad range of
unique capabilities. There are many
examples of how we work across
lines of business to deliver the firm
to our clients. Our partnership with
the Corporate & Investment Bank
has never been stronger. We were
extremely active last year, leading
833 financing transactions, including
31 initial public oerings, and advis-
ing clients on 67 merger and acquisi-
tion (M&A) transactions. In addition,
the Corporate & Investment Bank’s
treasury services products are essen-
tial to our business, generating $2.4
billion in revenue last year.
The Consumer & Community
Banking network has been critical to
the success of our Middle Market
Banking business. Our clients used
Chase branches almost 18 million
times last year. Increasingly, they use
our commercial card and merchant
processing services, and we see an
opportunity to bring specialized pay-
ments solutions to even more clients.
Commercial Banking
In Commercial Banking, serving our
clients is at the heart of everything
we do. Each day, we come to work
to generate ideas, deliver solutions
and provide capital to help them
grow and succeed. We take a long-
term view and stand by our clients
in tough times.
It is dicult to capture in words the
strength of our relationships. There
are so many incredible stories that I
could share, but one of the most
memorable came from a small busi-
ness owner in Cleveland. He described
how his international operations were
crippled by the tsunami in Japan in
2011, and when – despite their 40-year
relationship – his former bank
refused to help, he turned to our
team. In a matter of days, we were
able to raise the needed capital to help
him make it through a very dicult
time. Today, the client’s business is
thriving again, and we have found
additional ways to support him along
the way. His emotional testament
to our partnership was quite moving
– and spoke to the power of our fran-
chise and the quality of our bankers
across the country.
DouglasPetno