JPMorgan Chase

New Hires to Help Families Buy, Refinance Homes

Iselin, N.J., November 10, 2009 - Chase, one of the nation's leading home lenders, today announced that it plans to hire 1,200 mortgage loan officers by the end of 2010, increasing the sales force 60 percent to help more Chase customers finance home purchases or reduce their monthly payments through refinances.

"We have made a number of strategic investments in our organization," said Dave Lowman, head of home lending at Chase. "We have invested in new systems, aggressively grown our capacity and now are looking to increase our sales force. With our vast branch network and growing customer base, the opportunity for Chase loan officers is tremendous."    » read more »

Will hire 325 additional bankers to help business owners Demonstrates Chase's support for small business, overall U.S. economy

NEW YORK, November 9, 2009 - Chase announced today that it plans to increase its lending to small businesses by up to $4 billion in 2010, boosting expected new lending to about $10 billion to this vital segment of the U.S. economy.

This will provide businesses with increased access to working capital, term loans for expansion, commercial mortgages, lines of credit, and business credit cards. While the $4 billion in additional credit will be available to qualified businesses with annual sales of less than $20 million, the majority of new loans will be targeted to companies with sales of less than $10 million.    » read more »

Steve Black named Executive Chairman of the Investment Bank; Jes Staley to become CEO of the Investment Bank; Mary Callahan Erdoes Appointed CEO of Asset Management

NEW YORK--(BUSINESS WIRE)--JPMorgan Chase & Co. (NYSE: JPM - News) today announced senior leadership changes in its Investment Bank and Asset Management businesses.

Steve Black, co-CEO of the Investment Bank, will become Executive Chairman of the Investment Bank. Jes Staley, currently head of Asset Management, has been named CEO of the Investment Bank, reporting to Steve. Jes will continue to serve on the firm's Operating Committee. Mary Callahan Erdoes, CEO of the Private Bank, will succeed Jes as the CEO of Asset Management and will join the firm's Operating Committee.    » read more »

155,000 more modification requests in process or under review Has prevented 565,000 foreclosures since 2007

NEW YORK, June 30, 2009 -- Chase announced today that it has approved 138,000 trial mortgage modifications for struggling homeowners since April 6, when it began processing trial modifications through President Obama's Making Home Affordable program.

Since 2007, Chase has continued to expand its comprehensive plan to keep families in their homes, helping prevent 565,000 foreclosures - including the 138,000 trial modifications -- for Chase, WaMu and EMC customers. Another 155,000 applications are in the review process.    » read more »

London - 23 June 2009 - J.P. Morgan Worldwide Securities Services today announced it will provide fund accounting, OTC derivatives services and compliance reporting to Schroder Investment Management's UK range of retail funds.

J.P. Morgan already provides custody, accounting, OTC derivative compliance reporting, securities lending, trust & fiduciary, cash and foreign exchange services to Schroders, and services the company from Australia, Hong Kong, Luxembourg, the US and the UK.    » read more »

New York, June 17, 2009 -- JPMorgan Chase & Co. (NYSE: JPM) announced today that it repaid in full the $25 billion preferred stock investment it accepted through the Troubled Asset Relief Program (TARP).

In addition to this principal amount, JPMorgan Chase has paid the U. S. Treasury an aggregate of $795,138,889 in dividends on the preferred stock, including dividends that had accrued through the redemption date.

The company will also notify the U.S. Treasury today of its intent to repurchase the 10-year warrant issued to the Treasury in connection with the preferred investment.

Source: JPMorgan Chase

New York, June 16, 2009 - The Board of Directors of JPMorgan Chase & Co. (NYSE:JPM) declared a quarterly dividend on the outstanding shares of each of the following preferred stock issues:

* 6.15% Cumulative Preferred Stock, Series E - $3.075 per share (equivalent to $0.76875 per Depositary Share)
* 5.72% Cumulative Preferred Stock, Series F - $2.86 per share (equivalent to $0.715 per Depositary Share)
* 5.49% Cumulative Preferred Stock, Series G - $2.745 per share (equivalent to $0.68625 per Depositary Share)

The dividends for the Preferred Stock Series E, F and G are payable on July 15, 2009, to stockholders of record at the close of business on June 30, 2009.

Source: JPMorgan Chase & Co. (NYSE: JPM)

Company Will Have Tier One Capital Of Approximately $118 Billion, Or 9.3%, And Tier One Common Of Approximately $93 Billion, Or 7.3%, After Repayment Of Tarp

New York, June 09, 2009 -- J.P. Morgan Chase & Co. (NYSE: JPM) confirmed that it has received permission today from U.S. regulators to repay in full the $25 billion preferred investment it accepted through the Troubled Asset Relief Program (TARP). The company plans to repay the funds in full and with accrued dividends at a closing time determined by the U.S. Treasury.    » read more »

Report provides companies a framework to effectively build and manage an HSA program

New York, NY -June 8, 2009 - J.P. Morgan today issued a report titled "Best Practices for Implementing a Health Savings Account (HSA) Program" providing a step-by-step guide for employers who want to offer an HSA program to employees.

Many companies are finding that the addition of an HSA option to their healthcare benefits menu presents a practical solution to the health insurance challenges they face. The adoption of HSAs has seen significant growth since they were created in 2004. By year-end 2008, there were an estimated three million HSAs with deposits of over $3 billion - and the number of HSA accounts is expected to quadruple by 2012, according to Celent.    » read more »

Region's largest private employer will top 16,000

COLUMBUS, Ohio, June 2, 2009 - Chase announced today it will add at least 1,150 new jobs to its central Ohio workforce over the next three years. At least 1,000 of the jobs will be in the city of Columbus; the rest will be in Westerville.

JPMorgan Chase is already the region's largest private employer -- with nearly 15,000 in and around Columbus.

"This latest investment continues our legacy as a leading bank and a leading employer in Columbus," said Melissa Ingwersen, CEO of Chase in Central Ohio. "We are proud to be providing new job opportunities in our community, especially during this time of economic stress."    » read more »

New York, June 2, 2009 - JPMorgan Chase & Co. (NYSE: JPM) today announced that it priced an offering of 142.0 million shares of its common stock at a price to the public of $35.25 per share, or $5 billion in the aggregate. J.P. Morgan Securities Inc. served as sole bookrunning manager and underwriter for the transaction.

The underwriter will have a 30-day option to purchase up to an additional 21.3 million shares of common stock from the company, solely to cover over-allotments. The closing is expected to occur on or about June 5, 2009, subject to customary closing conditions.

JPMorgan Chase & Co. (NYSE: JPM) is a global financial services firm with assets of $2.1 trillion and operations in more than 60 countries.

Source: JPMorgan Chase & Co.

Intended to Satisfy a Supervisory Condition for TARP Repayment Requiring Demonstrated Access to Equity Capital Markets

New York, June 1, 2009 -- JPMorgan Chase & Co. (NYSE: JPM) announced today that it intends to raise $5 billion in common equity to satisfy a supervisory condition that the largest bank holding companies redeeming TARP (Troubled Asset Relief Program) preferred capital demonstrate access to the equity capital markets. While approval has not been granted, the company believes that upon completion of this capital raise it will have satisfied the criteria for fully redeeming the TARP preferred capital and expects to do so before the end of June.    » read more »

New York, May 19, 2009 - The Board of Directors of JPMorgan Chase & Co. (NYSE:JPM) today declared a quarterly dividend of 5 cents per share on the outstanding shares of the corporation's common stock. The dividend is payable on July 31, 2009, to stockholders of record at the close of business on July 6, 2009.    » read more »

Company's Tier 1 Common Ratio at 7.3% as of 3/31/09; Would Remain Well in Excess of Government's 4.0%

New York, May 7, 2009 -- JPMorgan Chase & Co. (NYSE: JPM) confirmed today that it has completed the U.S. Government's Supervisory Capital Assessment Program (SCAP), which determined that JPMorgan Chase's capital position would remain strong under far more highly stressed conditions than exist today, and that there is no need for the company to raise additional capital at this time.    » read more »

Generated record firmwide revenue of $26.9 billion and pretax, pre-provision profit of $13.5 billion (on a managed basis1)

New York, April 16, 2009 - JPMorgan Chase & Co. (NYSE: JPM) today reported first-quarter 2009 net income of $2.1 billion, compared with net income of $2.4 billion in the first quarter of 2008. Earnings per share were $0.40, compared with $0.67 in the first quarter of 2008.    » read more »