JP Morgan Chase 2014 Annual Report Download - page 41

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V. A STRONG CORPORATE CULTURE
sign o on every decision and stifle innova-
tion. We have been managing through this
process with our eyes wide open. The Oper-
ating Committee members of the company
spend a considerable amount of time to
make sure we get this right.
We need to develop the right culture and avoid
creating a culture of finger-pointing. We need
to analyze our mistakes because that is
the only way we can fix them and consis-
tently improve. But we cannot allow this to
devolve into crippling bureaucratic activity
or create a culture of backstabbing and
blame. We need to develop a safe environ-
ment where people can raise issues and
admit and analyze mistakes without fear of
retribution. We must treat people properly
and respectfully – even if we have to make
tough decisions.
I believe this company currently has the best
management team with whom I have ever
been associated – and I mean their character,
culture and capabilities. I now ask questions
that I did not ask when I was a younger
manager: “Would I want to work for these
managers?” “Would I want my children to
work for these managers?” My answer would
not always have been yes, but now it is. These
leaders have navigated the last several years
with fortitude and a smile, driving results,
making tough decisions and treating each
other as complete partners. They are the
reason why both performance and morale
remain strong in this environment.
CLOSING COMMENTS
Jamie Dimon
Chairman and Chief Executive Ocer
April 8, 2015
I feel enormously fortunate to be part of the remarkable 200-year
journey of this exceptional company.
I wish you all could see our employees and your management team at
work, particularly in these challenging times. If you did, I know that
you, like me, would be bursting with appreciation and pride and have
great comfort in knowing that our wonderful legacy will continue.