JP Morgan Chase 2015 Annual Report Download - page 29

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We don’t want to be known as a company
that doesn’t give people a second chance
regardless of the circumstances. I remind all
our managers that some of these mistakes
will be made by our children, our spouses
or our parents. Having a brutal, uncompro-
mising and unforgiving company will create
a terrible culture over time – and it will lead
to worse conduct not better.
Quite well, thank you. The Board of Directors
and I feel we have one of the best manage-
ment teams we have ever had. Many of our
investors who have spent a considerable
amount of time with our leaders – not just
with my direct reports but with the layer
of management below them – will tell you
how impressed they are with the depth and
breadth of our management team. Of course,
we have lost some people, but we wish them
well – we are proud of our alumni. One of
the negatives of being a good company is
that you do become a breeding ground for
talent and a recruiting target for competitors.
It is the job of our management team to keep
our key talent educated, engaged, motivated
and happy. Our people are so good that we
should say thank you every day.
How are you doing retaining key people?
Our company has stood the test of time
because we are building a strong culture and
are embedding our principles in everything
we do. Nothing is more important. That is
the pillar upon which all things rest – and it
is the foundation for a successful future.