UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): June 14, 2011
JPMORGAN CHASE & CO.
(Exact name of registrant as specified in its charter)
Delaware | 1-5805 | 13-2624428 | ||
(State or Other Jurisdiction of Incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) | ||
270 Park Avenue, New York, NY | 10017 | |||
(Address of Principal Executive Offices) | (Zip Code) |
Registrants telephone number, including area code: (212) 270-6000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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Item 5.02 Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers.
(b) On June 14, 2011, JPMorgan Chase & Co. (JPMorgan Chase or the Firm) announced certain changes in its senior management as set forth in the press release dated June 14, 2011 attached hereto as Exhibit 99.1.
Exhibit 99.1 shall be deemed to be filed for purposes of the Securities Exchange Act of 1934 and the information contained in Exhibit 99.1 shall be deemed to be incorporated by reference into the filings of the Firm under the Securities Act of 1933.
This current report on Form 8-K (including the Exhibit hereto) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon the current beliefs and expectations of JPMorgan Chases management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorgan Chases actual results to differ materially from those described in the forward-looking statements can be found in the Firms Annual Report on Form 10-K for the year ended December 31, 2010 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2011, filed with the Securities and Exchange Commission and available on JPMorgan Chases website (www.jpmorganchase.com ) and on the Securities and Exchange Commissions website ( www.sec.gov ). JPMorgan Chase does not undertake to update the forward-looking statements to reflect the impact of circumstances or events that may arise after the date of the forward-looking statements.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit |
Description of Exhibit | |
99.1 | JPMorgan Chase & Co. press release, dated June 14, 2011 |
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Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
JPMORGAN CHASE & CO. | ||||
(Registrant) | ||||
By: | /s/ Anthony J. Horan | |||
Anthony J. Horan | ||||
Corporate Secretary | ||||
Dated: June 15, 2011 |
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Exhibit |
Description of Exhibit | |
99.1 | JPMorgan Chase & Co. press release, dated June 14, 2011. |
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JPMorgan Chase Announces Changes in Responsibilities for Key Leaders
| HEIDI MILLER TO RETIRE IN EARLY 2012 - JES STALEY TO TAKE ON OVERSIGHT FOR INTERNATIONAL FRANCHISE |
| CHARLIE SCHARF NAMED PARTNER AT ONE EQUITY PARTNERS |
| TODD MACLIN TO TAKE ON ADDITIONAL RESPONSIBILITIES FOR RETAIL BRANCHES AND SMALL BUSINESS BANKING |
| GORDON SMITH TO ADD AUTO FINANCE AND STUDENT LENDING TO HIS RESPONSIBILITIES |
New York, June 14, 2011 - JPMorgan Chase & Co. (NYSE: JPM) announced today that Heidi Miller, President of its International business, will retire from the firm in early 2012. The company also announced new responsibilities for a number of other senior leaders in its U.S. and consumer-related businesses.
Ms. Miller has played key roles throughout her 30+ year career in banking and finance, including Chief Financial Officer of Citigroup and Bank One, a member of the Bank One Board of Directors and other large corporate boards, CEO of JPMorgan Chases Treasury & Securities Services business, and most recently, President of International.
Jamie Dimon, CEO of JPMorgan Chase, said: Heidi has been a valued member of our Operating Committee and a trusted
advisor to me over the years, and she has also served as a role model to countless others inside and outside of our firm. Well
miss her greatly and wish her all the best in whatever she chooses to do next.
Dimon added: In her role as President of International, Heidi worked closely with our key business leaders to help develop a
comprehensive and coordinated international business strategy, growth plan and governance structure. She furthered our
efforts in expanding the ranks of our global corporate bankers, and she helped us do a better job deepening and coordinating
our client coverage efforts around the world.
Jes Staley, CEO of the firms Investment Bank, will assume additional responsibility for overseeing and coordinating the firms
international franchise across all of its businesses. This is consistent with Heidi Millers recommendation that responsibilities for
international activities be embedded back into the businesses. Importantly, Jes will partner closely with the CEOs of the firms
other wholesale international businesses - Mike Cavanagh in Treasury & Securities Services and Mary Erdoes in Asset
Management - ensuring that our wholesale businesses and products, wherever they are based, are receiving the investments,
the people, the focus and the prioritization they need to grow and be successful.
Separately, Charlie Scharf, CEO of Retail Financial Services, will become a Partner in One Equity Partners, the firms private
equity arm. Mr. Scharfs years of senior operating experience and his financial expertise will be extremely valuable to the firms
private equity franchise. He will also continue to work with the consumer team to help transition the business and assist in any
way possible.
Charlie has played a critical role in building our Retail franchise into one of the top players in the industry - successfully
integrating the Bank One, Chase, Bank of New York and Washington Mutual businesses and helping expand our branch
footprint across the United States, said Jamie Dimon.
Todd Maclin, head of the Commercial Bank, will assume additional responsibilities for the companys Retail business, including
the branch network, consumer franchise, small business banking and the Chase private client business. He will continue as
CEO of the Commercial Bank. Mr. Maclin has partnered closely with the Retail team and branch network over the years as he
has helped build the firms industry-leading commercial bank. Doug Petno, Chief Operating Officer of the Commercial Bank, will
continue in his role reporting to Maclin.
Frank Bisignano, Chief Administrative Officer and Head of Home Lending, will continue in both of these roles.
Gordon Smith, CEO of Card Services, will take on responsibility for the firms Auto Finance and Student Lending businesses, in
addition to his current role. To better leverage the power of the Chase brand and ensure more consistency, Mr. Smith will take
on a new role managing all Chase-branded marketing across our Chase products and services. In this role, hell partner closely
with senior marketers across the firms business and corporate functions.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more
than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial
banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial
Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the worlds most prominent
corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co is available at www.jpmorganchase.com