1. Kiriaki Tourikis sifts through mountains
of documents to find key information for
the firm’s litigators. Page 3
Chief Marketing Officer Kristin
Lemkau talks about the firm’s
different brands. Page 7
On the job
Legal eagle
15 minutes with
Marketing chief
By Erik Battenberg
CardServicesisintroducinganenhanced
versionoftheSlatecreditcard,withanew
look,anewcreditscorefeatureandadded
security.
“The new Slate has been developed
in response to our customers’ needs for
toolstohelpthemunderstandandman-
agetheircreditwisely,”saidFlorianEgg-
Krings, general manager, Slate.
“Ourcustomersspanacrossagegroups,
from Millennials to Baby Boomers, and
are optimistic about their lives and the
possibilities that lie ahead,” said Pam
Codispoti, president, Mass Affluent.
“They’recomfortablewithborrowing
tofulfilltheirdreams,buttheywantbet-
ter tools to make sure that they’re doing
sointhemostresponsiblewaypossible,”
she said.
The Slate customer base is very valu-
able to the business, Egg-Krings said.
“Slate generates a third of the total
profit of the credit card business,” Egg-
Krings said.
“It’saveryimportantandsizableport-
foliowithmorethan10millionactivecus-
tomers,” he said.
InspeakingwithcustomersaboutFICO
scores,alsoknownascreditratings,Chase
realizedthereisconfusioninthemarket-
place, Egg-Krings said.
Thatdrovethedevelopmentofthenew
Chase Slate Free FICO Score & More fea-
ture,nowavailabletonewSlatecustomers
via chase.com, he said.
“Most issuers today offer a free credit
scorebutnotmuchmorethanthat,”Egg-
Krings said.
“Whenwetalkedtocus-
By Erik Battenberg
T
hebreakinthecasecameafter
employeesataNorthHouston
branch noticed some suspi-
cious activity.
The employees reported it
to the firm’s Global Security
group, eventually leading to
the arrests of more than 20
peoplesuspectedinaseriesof
robberies at Chase branches and other
banks in the Houston area.
This isn’t the only recent victory for
Global Security. It also partnered with
other groups in the firm to help law
enforcement officials arrest five people
suspectedofattackson17drive-upChase
ATMs in Southern California.
“None of these arrests would have
happened, or at least would not have
happened as quickly, without observant
employeesandrelentlessdetectivework
byoursecurityteam,”saidSteveWisotzki,
head of Global Physical Security.
ThearrestsillustratehowGlobalSecu-
rityemployeesworkwithcolleaguesand
law enforcement to protect employees
andcustomersaroundtheworld,saidJim
Cummings, chief security officer.
“We’ve worked hard in all of our loca-
tions to partner with local law enforce-
ment and other financial institutions,”
Cummings said.
“In this way, we uncover patterns,
devise prevention strategies and com-
pareinformationwhenanincidentdoes
occur,” he said. “This ensures we’re best
protectingouremployeesandcustomers,
andallowsustoproactivelyputstrategies
in place that keep our customers’ assets
safe.”
New Slate
credit card
offers more
features
By Michael Dorfsman
Thefirmrecentlyhosted
the JPMorgan Chase
CEO Summit in New
York, an annual event
thatwaslaunchedbyViceChairman
Jimmy Lee 17 years ago and draws
moguls from the world’s most pres-
tigious companies.
This year, those moguls included
JackMa,executivechairmanandan
originalfounderofAlibabaGroup,a
Chinesee-commercecompanythat
raised $25 billion in an initial public
offering last September, the largest
IPO in history.
Ma told the nearly 200 top execu-
tives who attended the summit that
fiveofAlibaba’soriginal18founders,
includinghimself,wereteachers.He
creditedteachingasaguidinginflu-
ence because teachers are predis-
posed to helping others.
“Every employee who joins our
firmhastobelieveinmakingiteasier
for small business to connect with
customers,” he said. “As a teacher,
youalwayswantyourstudentstodo
better than you.”
Alibaba’s websites — geared to
provide business-to-consumer,
business-to-businessandconsumer-
to-consumer shopping capabilities
— handle 60 million transactions
onagivendayandarecreditedwith
creating 14 million jobs.
Ma cited the high percentage of
women employees at Alibaba as
anotherfactorinthecompany’ssuc-
cess.Alibaba,hesaid,hasthehighest
percentage of women in manage-
ment among high tech companies,
33percent,andabouthalfofthetotal
workforce are women.
Having a high percentage of
female employees throughout the
firm has been a key element in the
company’s success for a variety of
reasons,hesaid,includingtheirdedi-
cation to making sure the sites are
user-friendly.
Ma was interviewed by Andrew
Sorkin, a New York Times business
columnist and a regular on CNBC,
who asked Ma what his plans were
for the U.S.
“I am most interested in help-
ing American small businesses sell
things to China,” Ma said, “because
I believe in the next 10 years, China
mustbeanimportingcountry;itcan-
not keep on exporting.”
AsexamplesofhissupportforU.S.
exports,Masaid,hehasrecentlybeen
buying bulk quantities of cherries
from U.S. farms and salmon from
Alaska to sell on Alibaba in China.
RedefiningmediabyInternet
FollowingMa,filmandtelevision
mediatookupmuchofthemorning
sessions, as James Murdoch, chief
operatingofficerof21stCenturyFox,
andLesMoonves,presidentandCEO
of CBS Corp., gave backstage views
ofthechangesaffectingtheirindus-
tries.
Murdochdescribedtheimpactof
theongoingshifttowardonlinevideo
distribution.Withits40millionU.S.
customers, Murdoch cited Netflix
as representing one-third of all the
Internet traffic on certain nights,
such as when it’s streaming new
episodes of its hit political drama,
House of Cards.
“As more and more video is mov-
ing online, as our lives are moving
online,it’sveryclearthattheamount
ofinvestmentneededtosatisfythat
demand is going to be very big,” he
said.
Connectivityhasbecomesomuch
acrucialpartofeveryone’sdailylives,
hesaid,becausetheInternetisbeing
usedtocontrolhometemperatures,
runrefrigeratorsandtransmitphone
signals.
AstheheadofCBS,Moonvessaid
theonecomplainthegetsmostoften
is one that pleases him: “People are
always telling me there are so many
good programs on television today,
it’s hard to find the time to watch
them all.”
Whileviewersareconsumingpro-
gramminginavarietyofways,77per-
centoftheaudiencestillwatchesthe
programs at the time they’re broad-
cast,hesaid.Meanwhile,20percent
ofthenetwork’srevenuenowcomes
from revenue streams that didn’t
exist five years ago.
Insteadofrelyingsolelyonbroad-
cast advertising, he said, “The back
endofshowsproducealmostasmuch
revenue now as the front end.” The
backendreferstosellingthecontent
tocablechannels,Net-
Conferences
Annual CEO Summit attracts moguls from around the world
Reelinginbadguys
The Global Security group works with law enforcement agencies around
the world to help arrest criminals and protect employees and customers.
u Continued page 2
Volume 12, No. 4
Illustration: Joyce Hesselberth /ispot
April2015
u Continued page 2
u Continued page 5
3. By Cameron Martin
K
iriaki Tourikis, a lawyer in the
Legal Discovery Management
group within Litigation, uses
computer technology to sift
through mountains of legal
documents — such as emails,
PowerPointpresentationsand
Excel spreadsheets — to help
thefirm’slitigatorsidentifykey
documents in legal investigations.
As a technology-assisted review coor-
dinator, Tourikis advises the firm’s case
teams on review strategies and makes
recommendationsontheappropriateuse
of technology. This can include things
suchasemailthreading,whichissimilar
to the way Gmail groups email conver-
sations; and predictive coding, which is
similar to how Netflix or Pandora takes
userfeedbacktoprovidemovieormusic
suggestions.
Tourikis helps accelerate the reviews
andworkstoensurethatpotentiallyrele-
vantdocumentsaregettingintothehands
ofthefirm’slitigatorsandoutsidecounsel
as quickly as possible, she says.
“The quicker our attorneys uncover
documentsthatprovideusefulinforma-
tion, the quicker they can use that infor-
mation to construct their arguments
and make strategic decisions about the
case. Accurate and judicious document
reviewprocessescanmakethedifference
between winning and losing cases.”
OnarecentFridaymorningatheroffice
in the Brooklyn (N.Y.) Corporate Center,
Tourikisisonacallwithoutsidecounsel.
S
he typically manages six to
15 active matters spanning
various lines of business and
countries. The matters can
include regulatory proceed-
ings and civil litigation, and
can vary in size.
“You might have a Depart-
ment of Justice request, a
Securities and Exchange Commission
requestandaninternalrequest,”Tourikis
says. “And there might be a civil litiga-
tion component. So they’re all looking
for information, all looking for docu-
ments,butthey’realllookingatthematter
slightly differently, so you’re constantly
calibrating and readjusting and being
flexible.”
In recent years, the firm has been the
subjectofseveralsignificantgovernment
investigations that involved the collec-
tion, review and production of massive
amounts of data and information.
Preparing for such cases is a monu-
mental task, made easier by the work of
Tourikis and others in Legal Discovery
Management.
“Think about how many emails you
sendandreceiveinaday,”shesays.“Now
imagine20,30or40peopleoverayearor
10yearswhohavebeencommunicating.
Wemightbecollectingallofthatinforma-
tion,andthenwe’reteasingoutallofthe
pertinent information. ”
Legaldiscoverythatmighthavetaken
monthsforlawyerstoreadthroughcanbe
shorteneddrasticallywithelectronicdis-
covery — saving time, energy and costs.
After her case call, Tourikis speaks to
severalcolleaguesabouthowtousetech-
nologywithinarangeofpotentialmatters.
Onacallwithoutsidetechnologyvendors,
she and colleagues discuss goals, trends
and the cost savings associated with the
use of technology.
L
ater,shehostsatrainingrefresher
fortheLegalDiscoveryManage-
ment team on one of the search
improvement workflows.
“We have to keep abreast of
emerging technologies so that
wecancontinuetobeonthecut-
ting edge.”
Tourikis works under Brian
Chebli,whosaysherpassionforelectronic
discoveryisevidentintheenthusiasmshe
brings to the office each day.
“She enjoys her work, her colleagues
andtheabilitytocreateandtailornewand
innovative case strategies by leveraging
technology,” Chebli says.
Usingtechnologyinherjobisexciting
and rewarding, Tourikis says.
“I love working in a cutting-edge field
within legal discovery, in a department
that is a true industry leader,” she says.
“Few other organizations in the world
havesuchafirst-classelectronicdiscovery
departmentthatcantrulyhandleend-to-
enddiscovery.IlovethefactthatI’mable
to innovate on a daily basis.”
Legal Discovery
Management helps firm
to find key documents in
legal investigations.
‘I love the fact that I’m
able to innovate
on a daily basis.’
Kiriaki Tourikis
Technology-assisted review coordinator in Legal Discovery Management
1. Case calls/case work
2. Portfolio analysis
3. Programmatic initiatives
4. Training others
5. Vetting technologies
6. Case law
Division of labor
By Cameron Martin
Employees are increas-
inglyusingvirtualdesk-
top infrastructure and
the Good Mobile email
app to do their work.
Thefirm’sBringYourOwnDevice
initiativehashelpedincreasetheuse
of the Good Mobile app and virtual
desktop infrastructure, which is
knownasVDIandstoresinformation
in a virtual data center, eliminating
theneedforworkstationharddrives.
“Bringingyourowndeviceisreally
about giving you quick and easy
access to your items, whatever your
circumstance,” said Ray Delaney,
head of Enterprise Mobile.
“We want you to be able to con-
veniently access information. Our
direction here is to be more of an
application provider than an oper-
ating system provider.”
Nearly 100,000 employees use
VDI,andthefirmanticipatesanaddi-
tional30,000willbeabletoadoptthe
technology by the end of the year.
VDI allows employees to access
their desktop files, corporate email
and business applications from any
computer, laptop, tablet or smart-
phone.
Once an employee signs on, they
can access information in a secure,
manageable environment.
“VDI also allows users to resume
workwherevertheyleftoff,evenfrom
anotherdevice,”saidRockyMaufort,
globalheadofVirtualWorkspaceSer-
vices.
“The infrastructure is more cost-
effective and resilient than a tradi-
tional personal computer or laptop,
andwithaccessfromanydevicefrom
anywhereatanytime,willdrastically
improvetheoveralluserexperience
and productivity,” he said.
“Furthermore, our risk and
security posture are significantly
improvedastheenvironmentisfully
contained within our data centers,
reducing the chance of data loss.”
Twonewproductsgoingintopro-
duction this quarter are AppSphere
and Liquid Workspace, which are
transformative platforms that are
capable of hosting nearly any appli-
cation.
“Liquid Workspace will bring all
the advantages of VDI’s improved
user experience and productivity,
supplementedwithincreasedcapa-
bilitiesforthedevelopmentcommu-
nity,” Maufort said.
AppSpherewillprovideindividual
applicationsanddeliverthemwith-
outtheuseofaspecificdesktopplat-
form, said Paul DeFranco, head of
Virtual Application Services.
“Applications can be accessed
from a desktop, an iPad or smart-
phone while the application and its
data remain inside the firm.”
Morethan45,000employeeshave
optedtodownloadtheGoodMobile
app, which allows employees to
securelyaccesstheircorporateemail,
contacts, calendar and the corpo-
rateintranetbrowserfromanApple
iPhone,iPadorAndroidsmartphone.
Good Mobile offers many of the
samebenefitsasaBlackBerry,while
allowing employees the option of
accessing their work and personal
apps on a single device.
Theappstoresthecorporateemail
andcorporatedatainasecure,pass-
word-encrypted area on a mobile
device.
“ThebiggestthingabouttheBring
YourOwnDevicestrategyiswedon’t
want to take over your device, all we
want to do is make sure your device
is secure,” Delaney said.
Use of Good Mobile and virtual desktop infrastructure both rising
Technology
April 2015
Ink Features 3
Onthejob
Photo: Jason Andrew
1
2
3
5
6
4
4. By Erik Battenberg
Tohelpensureitcangetthemosttal-
entedworkforcepossible,JPMorgan
Chaserecentlysignedontoa“Friend
oftheCourt”briefsupportingacon-
stitutionalrighttosame-sexmarriage
inapendingU.S.SupremeCourtcase
that will decide the issue.
Thedecisiontosignontothebrief,
also known as an amicus brief, was
groundedinbusinessconsiderations
rather than personal views on the
social issue, said Steve Cutler, the
firm’s chief legal counsel.
Currently in the U.S., same-sex
marriage is legal in 37 states and the
District of Columbia, while 13 states
don’tallowsuchunions.Thefirmhas
asignificantpresenceinsomeofthe
states where same-sex marriage is
outlawed,includingLouisiana,Ohio
and Texas.
“One of our objectives as a com-
panyistogetthemosttalentedwork-
force we can possibly get, and that
also means having a diverse work-
place,” Cutler said.
“Weoweittoourshareholdersand
our clients to have great employees.
For a company like ours that has
significant operations in states that
don’t allow same-sex marriage, we
run the risk of losing out on those
employees. That could put us at a
competitive disadvantage,” he said.
The firm participates in amicus
briefsafewtimesayear,hesaid.Most
ofthebriefsitsignsontoarerelatedto
bankinglaworsecuritieslawissues.
It’s frequent for the firm to be asked
byanindustrytradegrouptosignon
to a brief, and sometimes a member
of the firm’s Legal group suggests it.
“In making the decision to sign
on to this or any other brief, we try
not to think about the social issue
andourpersonalopinionsaboutit,”
Cutler said.
“In theory, we could sign on to a
friend-of-the-courtbriefonanynum-
berofissues,butinjudicialdisputes
inwhichwe’renotdirectlyinvolved,
we think there should be a business
interestatstake,”Cutlersaid.“Ifthere
isasocialissuethatpeoplecouldfeel
stronglyaboutbutthereisn’tabusi-
ness nexus, we normally wouldn’t
take a position.”
The firm joined more than 375
otherlargecompaniesinsigningon
to the brief. Other companies that
participatedincludeApple,Amazon,
FacebookandGoogle,aswellasmost
otherlargebanks,suchasAmerican
Express,BankofAmerica,Citigroup
and Wells Fargo.
The Supreme Court is scheduled
to hear arguments about the case in
April and is expected to make a rul-
ing by June.
By Cameron Martin
The firm recently
announced that the
Global Health Invest-
ment Fund is com-
mitting $10 million to treat
onchocerciasis,or“riverblindness,”a
debilitatingdiseasethataffectsmore
than37millionpeople,mostlyinsub-
Saharan Africa.
River blindness is transmit-
ted through black flies. Symptoms
include severe skin inflammation
andintenseitching,enlargedlymph
nodes and, in some patients, visual
impairmentthatcanultimatelylead
to blindness.
The drug moxidectin has been
shown to be effective in treating the
disease.
WorkingwithMedicinesDevelop-
mentforGlobalHealth,anAustralian
nonprofit biopharmaceutical com-
pany, the Global Health Investment
Fund is investing to bring moxidec-
tin to market for use to treat river
blindness and to keep it accessible
for those who need it.
The project meets the criteria
established for the Global Health
Investment Fund, the $108 million
financing vehicle launched by the
firm and the Bill & Melinda Gates
Foundation at the end of 2013, said
Amy Bell, head of principal invest-
ments for Social Finance.
“One, river blindness is a disease
thatdisproportionatelyaffectsasig-
nificant population in the develop-
ing world.
“By supporting treatment, we
deliver impact at scale,” Bell said.
“Two, development is close
enough to the finish line that our
investment is in a position to help
it get to market within the term of
the fund.
“Andlastly,wewereabletonegoti-
ateglobalaccessrights,makingsure
the drug is offered at an affordable
pricepointforallthepopulationsthat
willdirectlybenefitfromit,”shesaid.
The drug should be available in
the market by 2018, and the annual
cost of treating a patient per year is
expected to be 29 percent less than
the current standard, Bell said.
Fornow,controlofriverblindness
relies solely on the mass annual or
biannualadministrationofthedrug
ivermectin,whichisfundedthrough
donationstoMerck’sMectizanDona-
tion Program.
The Global Health Investment
Fund is an example of one of the
hottest trends in both philanthropy
and investing — so-called impact
investing.
With this practice, people invest
inafinancingvehicleforaparticular
period of time and expect to make a
social impact and a financial profit.
Inadditiontoriverblindness,the
fund is investing to tackle diseases
suchascholera,tuberculosis,malaria
and HIV/AIDS.
“The Global Health Investment
Fundisapilotthatwillhopefullybe
pavingthewayformuchlargercapi-
tal that is available for these sorts of
investments,” Bell said.
“Weimaginethenextfundwillbe
larger than $108 million.”
Supreme Court brief
supports same-sex marriage
Fund seeks to treat river blindness
By Cameron Martin
Morethan1,600U.S.employeesrode
stationary bikes to raise more than
$400,000 for rare cancer research
in the 2015 Cycle for Survival fund-
raising campaign.
Employeesin13citiesandsixsat-
ellite locations gained sponsors to
takepartinstationarycyclingevents
during February and March.
CycleforSurvivalwasfoundedin
2007 and has raised more than $75
million to help fund clinical trials,
studies and research initiatives led
byMemorialSloanKetteringCancer
Center in New York City.
In addition to the funds raised by
employees,thefirmthisyeardonated
$10,000foreachlocationthathad24
or more employees taking part.
Emily Portney, head of Clearing
andCollateralManagement,helped
leadthefirm’sinvolvement.Shewas
friendswithJenniferGoodmanLinn,
who founded Cycle for Survival in
2007 and died in 2011.
“Jennbasicallybuiltacharityfrom
the ground up, ” Portney said.
The ease of participating made
CycleforSurvivalattractive,shesaid.
Employees could also earn a $200
credit toward their Medical Reim-
bursement Account.
“It’s a format that everyone can
participate in,” Portney said. “It’s a
fun spin event, so participants can
exercise. Or you could go and be a
supporter and cheer people on. It’s
a great way to give back.”
Chief Financial Officer Marianne
LakehastakenpartinCycleforSev-
eral for many years, and this year
she was executive sponsor of the
program.
“Ourgoalthisyearwastohave300
employees across the country join a
team,” Lake said. “With more than
1,600takingpart,wereallyraisedthe
barandshowedhowimportantcan-
cerresearchistopeopleeverywhere.”
PortneysaidLake’ssupporthelped
generateinterestinthefund-raising
initiative.
“Wewereincrediblypleasedwith
the outpouring of support from the
firm this year,” Portney said.
“WithMarianneLakeastheexecu-
tive sponsor, she put a face with the
cause, and her support helped get
the attention we needed,” she said.
Employees raise more than $400K for
cancer research in Cycle for Survival
4
April 2015
News Ink
By Erik Battenberg
TensofmillionsofChasecreditcard
customerswillreceivenewpiecesof
plasticthisyear,andtheirnewcards
will carry technology designed to
help combat fraud.
The cards will have embedded
microchips that are encoded with
account information that can only
bereadbyspeciallydesignedpoint-
of-sale devices.
Chiptechnologyhasbeenthestan-
dard in Canada, Europe and other
places for years, but it hasn’t been
introduced widely yet in the United
States,saidDinaDeMerell,amarket-
ing director in Card Services.
Overthelastthreeyears,Visaand
Master Card have announced sev-
eralchangestodriveadoptionofchip
technology in the U.S., she said.
“They have provided incentives
to merchants and issuers to adopt
thenewtechnologyearly,”DeMerell
said.“Thewholepaymentsindustry
is going through a massive shift as
a result.”
Chip cards have reduced coun-
terfeit card fraud in Europe and are
expectedtodothesameintheUnited
States,saidTomBarton,riskdirector.
“Fraudsters have learned how to
copy the magnetic strips that tra-
ditional cards have used, and then
usethosetomakecounterfeitcards,”
Barton said.
“Whenyouaddachip,theyaren’t
abletocopythat,”hesaid.“Oncemer-
chantshavecardreadersinplaceand
people have chip cards in hand, the
fraudsterswillhavetroublesecuring
magneticstripdatainthefirstplace
and trouble using counterfeit mag-
netic strip plastics at chip readers.”
Chase expects counterfeit fraud
to be cut in half once chip cards and
readers are in place, he said.
Of course, the chip cards only
address fraud at physical locations,
not through online purchases.
“We’re in a real transition period
where we’re doing a lot of different
thingstocombatfraud,”Bartonsaid.
“Inthephysicalworld,we’reissuing
chipcardsandpromotingApplePay.
In the online world, we’re driving to
tokenization.Youreallyhavetotackle
multiplepaymentformsatthesame
timetoeliminatefraud,orelsefraud
will simply shift.”
CardServicesisissuingchipcards
forallofitskeycardportfolios,DeMe-
rell said. Millions of customers will
receivenewcardsthisyearwhentheir
existing cards come up for renewal
and sometimes in advance of their
natural expiration date.
In order to deliver all the extra
cards,thefirmhadtobuildoutinfra-
structurewithintheCardProduction
Centers in Ohio and Texas, said Bob
Dean, Plastics Operations director.
“It involved enhancing our soft-
ware infrastructure and installing
additional hardware to our current
systems,” Dean said. “We had to
makeaninvestmentonmodulesthat
encodethedataontothechipsothey
could be added to our equipment.”
Chasepurchasesblankchipcards
from several vendors, he said.
“The vendors perform a process
called milling and embedding. The
millingportionisdrillingoutacavity
in the card and then embedding is
gluing the chip into the card.”
“Many technology teams across
the company came together to sup-
portthisrollout,”saidAnandDhelia
ofApplicationDevelopmentforCard
Services.
While some card portfolios,
includingBritishAirwaysandChase
Sapphire,hadmovedtochipearlier,
theyusedVisatoprocesstheseearly
chiptransactions.InNovember,Card
Services brought the capability in
house, allowing Chase to fully sup-
portchipproductionandtransaction
servicing itself, Dhelia said.
Customers have been inconve-
nienced over the last few years by
security breaches, DeMerell said.
“It’s in everyone’s best interest to
shift to the new capability and drive
downcounterfeitfraud.Andit’sour
responsibilitytoeducatecustomers
about chip and all the great things
we are doing to secure payments,”
she said.
That’s why Card Services, in col-
laborationwithCommerceSolutions
andConsumer&CommunityBank-
ing Operations Communications
Center of Excellence team, is doing
extensivemarketingandcommuni-
cationswithcustomerstohelpthem
make the transition to chip, DeMer-
ell said.
Awebsitehasbeensetupatchase.
com/chipwitheducationalcontent,
videos, chip availability and other
information.
Chipsinnewcreditcards
designedtocombatfraud
Microchip technology is becoming the norm in U.S.
‘One of our objectives as a
company is to get the most
talented workforce we can
possibly get, and that also
means having a diverse
workplace.’
Steve Cutler
Chase is adding microchips to its cards, including Freedom, shown here.
Rather than being swiped like traditional cards, chip cards are inserted in
point-of-sale devices such as the one shown at right (not to scale).
Employees in New York City
participate in a Cycle for Survival
event.
More information online, see Page 8.
Social good
5. By Michael Dorfsman
J.P.Morgan’swillingnesstoembrace
the disruptive nature that drives
Internet digital media has been key
in the firm becoming the leading
financingsourcefortechnologycom-
panies,accordingtoNoahWintroub
and Mark Fiteny, global co-heads of
the Corporate & Investment Bank’s
Internet & Digital Media group.
And even though he’s global co-
head of IDM, Wintroub said there is
no such thing as an “Internet com-
pany.” Rather, the IDM group sees
clients as either incumbents or dis-
ruptors.
“Our franchise has to be a mirror
that naturally serves both sides of
that divide,” he said.
Fifteen years ago, when the IDM
team was launched, many still
thought the Internet was hype. But
J.P. Morgan had the vision to invest
inateambasedinSanFranciscothat
believedtheInternetandtechnology
would change the way people com-
municate, conduct business, and
become entertained and informed,
Wintroub said.
Technology has become the dis-
ruptive force that J.P. Morgan envi-
sioned.Mobilephoneshavebecome
smartphones.Ariverofmusic,mov-
iesandTVisstreamedtoconsumers.
School children turn in their home-
workonGoogledocs.Therearemany
more examples.
Despite J.P. Morgan’s success in
building its IDM group around a cli-
entrosterofAlibaba,Facebook,Pan-
dora, LinkedIn, GoPro and Twitter,
amongothers,theIDMteamseesthe
trend as still being in its early phase
of evolution, Wintroub said.
“About10yearsago,thecompanies
we covered had a market capitaliza-
tionofabout$600million,”Wintroub
said. “Fast forward to today and it’s
about $2.5 trillion of market cap and
allthebiggestcompaniesintheworld
have gotten into our sector.”
Despite being seen as technology
companies,J.P.Morganapproaches
and works with them by building
long-termhumanrelationshipswith
the clients’ founders and manage-
ment, Wintroub said.
“These are human beings build-
ingcompaniesandfiguringouthow
tonavigatetheworld,”hesaid.“And
there’snocompanyintheworldbet-
ter than J.P. Morgan to do that.”
Being based in San Francisco,
J.P. Morgan’s team lives and works
amongtheSiliconValleyclientsthey
serve, Fiteny said, adding that they
seeeachotherattheirchildren’ssoc-
cer games and at school events.
Beingpartofthefabricofthecom-
munityandhavingworkedwiththe
client on previous deals, builds a
senseoftrust,Fitenysaid,andisval-
ued by Silicon Valley entrepreneurs
and leaders.
AstheIDMsectoris,itself,under-
goingchange,J.P.Morganwilladjust
with it, Fiteny said.
“Ourbusinessstartedoutaddress-
ingmediabecausemediawasgoing
digital, but now we’re working with
realestatecompaniesandconsumer
packagedgoodscompanies,”hesaid.
“Our best days are always ahead
and as disruption continues, we
look forward to working with part-
nersacrossthefirmtobuildtheright
products and relationships to con-
nect capital and advice to the right
opportunities,” Wintroub said.
“Thisfirmgetsitlikenootherand
it’s been built with an eye toward
turning the challenges into oppor-
tunities,” he said. “We look forward
to handing this off to future genera-
tionsandhopewehavesetitupwell
enoughthatwe’llbeleadingthebusi-
ness for the next 200 years.”
Beingearlydigitaladoptergivesfirmedge
A key was the willingness to embrace the disruptive force of technology
Meetingand
matching
For the fourth
consecutive year,
the firm sponsored
WomenOnCall’s Meet
& Match in Chicago.
The annual event lets
nonprofits connect face-
to-face with professional
women seeking
short-term volunteer
opportunities. Based on
the concept of speed-
dating, volunteers rotate
among tables to meet
with nonprofit leaders
and discuss skills-based
volunteer projects. The
in-person connections
allow nonprofits to tap
into volunteers’ valuable
skill sets, while the
projects give volunteers
new avenues to personal
and professional growth.
Photo courtesy of WomenOnCall
flix,oronDVDswithaddedfeatures.
Anotherexampleofanewrevenue
source, Moonves said, comes from
CBS’s news operation. Because the
newsdivisionproducesmorereports
thancanbebroadcast,CBSlaunched
anonlinestreamingservicebuilton
providingcontinuousnewsonCBSN,
a full-time news service.
Womenandmentogether
Freshfromlaunching#LeanInTo-
gether,SherylSandberg,chiefoper-
ating officer of Facebook, described
hercampaignwiththeNationalBas-
ketballAssociationandtheWomen’s
National Basketball Association to
encourage men to support gender
equality at work and at home.
“Children with involved fathers
arehappier,healthierandmoresuc-
cessful,”shesaid.“Couplesthatshare
responsibilities have stronger mar-
riages.Diverseteamsandcompanies
produce better results.”
Workforce quotas are inefficient
ways to make substantive changes,
Sandberg said, and she urged man-
agementstorecognizeinherentgen-
der biases and fight for change.
NickWoodman,founderandCEO
of GoPro, recalled the first time he
realizedthepotentialofhisprototype
to change user-created media.
Woodman did not just build a
company but an entire community
ofpeoplewhocancaptureandshare
momentsinwaystheyneverthought
possiblethroughtheuseofportable
video cameras, he said.
Former New York City Mayor
Michael Bloomberg stressed that in
agloballyinterconnectedmarket,it’s
importanttostayinformedandcapi-
talize on the most useful, relevant
information available.
Now back at Bloomberg LP, the
media firm he founded as CEO,
Bloomberg said that companies
should consider rotating employ-
ees to gain fresh perspectives and
promote innovation.
At the start of the conference,
Warren Buffett, chairman and CEO
ofBerkshireHathaway,spoketoCBS
anchorCharlieRoseinaconversation
thatdrewonBuffett’sdecadesatthe
helm of one of America’s most suc-
cessful businesses.
On culture and what qualities a
CEOneeds,BuffettsaidaCEOshould
have “integrity, intelligence and
energy. If you don’t have the first,
the other two will kill you.”
Buffettsaidheisoptimisticabout
theAmericaneconomyandthatthe
bestplacestobuyremaininAmerica.
“This is the mother lode, and we
haven’tbeguntomineit,”hesaid.“I
likedoingthingsoutsidetheU.S.,too,
but we will find way more opportu-
nityintheUnitedStatesthanwewill
aroundtheworldinthenext10or20
or 30 years.”
With additional reporting by Ron
PotterandLaurenE.Burns
‘Diverse teams and
companies produce better
results.’
Sheryl Sandberg
By Cameron Martin
Global Wealth Management, a divi-
sionofAssetManagementthatworks
with ultra high net worth and high
net worth individuals and families,
recentlylauncheditsnewvalueprop-
osition to create unique and consis-
tentmessagingthatbetterconnects
with clients and prospects.
Dubbed “The J.P. Morgan Way,”
Global Wealth Management’s new
value proposition — “Unparalleled
Insight to Help Fulfill Your Vision”
—isdesignedtohighlightthegroup’s
abilitytoprovideclientswithadvice
and solutions that will help them
reach their goals.
“It’saboutunderstandingourcli-
ents’ vision and connecting it with
ourinsightstobuildafulfillingrela-
tionship,”saidArunSinha,chiefmar-
keting officer for the business.
“As Global Wealth Management
continuedtogrowovertime,theneed
foronecommonvoicebecamemore
apparent,” Sinha said.
“That’s a big part of why we cre-
ated this value proposition, which
will become the pillar for the brand
promise we deliver to clients and
prospects.”
The value proposition was devel-
oped following a study of the high
net worth and ultra high net worth
categories.
Feedback showed that J.P. Mor-
ganiswell-knowngloballyandover-
whelminglyconsideredtrustworthy.
However, results also indicated
anopportunitytoincreaseprospec-
tiveclients’awarenessoftheservices
Global Wealth Management offers,
Sinha said.
The value proposition includes
fourguidingprinciples,whichifcon-
sistentlydeliveredwillhelpearnthat
trust. They are:
l Personalized with a global per-
spective
l Insight with intelligence
l Straightforwardandresponsive
l Integrity and dependability
The business is looking to bring
thesewordstolifethroughtheintro-
ductionofseveralnewtechnologies
and tools aimed at improving the
experienceofclients,prospectsand
employees.
This includes revamping its digi-
tal thought leadership experience
through tools such as Private Folio
and the J.P. Morgan Pitchbook.
Sinha said that the launch is just
the beginning of this effort, and
that the new value proposition goes
beyond a marketing effort.
“The value proposition and the
expectationswehaveforitareevery-
one’s responsibility,” Sinha said. “It
will not be successful without full
engagement and adoption across
the business.”
The new value proposition will
guideeverythingthebusinessdoes,
and client feedback will be closely
monitored, he said.
“Ourultimatemeasureofsuccess
will be feedback directly from our
clients and prospects on whether
or not we are living up to our brand
promise.”
Global Wealth Management has new value proposition
Ink News
April 2015
5
‘As Global Wealth
Management continued to
grow over time, the need for
one common voice became
more apparent.’
Arun Sinha
‘This firm gets it like no other
and it’s been built with an
eye toward turning the
challenges into
opportunities.’
Noah Wintroub
u Continued from page 1
Facebook COO
pushing for
gender equality
at work, home
6. 6
By Cameron Martin
Several new technology
tools are making jobs
easier for employees,
including touch screen
smart boards that allow
colleagues in faraway cities to work
simultaneously on a document.
SeeMe Cloud enables users to
videoconferencewithcolleaguesand
externalclients,andsmartboardsare
simplifying and improving collabo-
ration across the firm, said Eugene
Pitts, who oversees video streaming
technology.
“We’vecomealongwayandpeople
are becoming much more comfort-
ablewiththesetypesoftechnology,”
he said.
“Employees are recognizing that
these tools are helping them to col-
laborate and work smarter.”
Individual lines of business have
been using smart boards for several
years, but the firm is now working
to make sure the devices are set up
in a standard way, that they remain
inserviceandthatthetechnologyis
current, Pitts said.
There are more than 50 smart
boards deployed globally. Some
screen-sharing interfaces are only
a one-way street of on-screen com-
municating, but smart boards can
beusedinconcertwithTelepresence
to create a real-time, collaborative
environment.
“Participants can make notes on
thesamedocumentatthesametime,
so this is more of a two-way street,”
Pitts said.
“Itcankeepeverythingdigital,so
groupscangopaperlessonprojects.
There’s a huge time save with this,”
he said.
More employees are using web-
casts,too,saidIanO’Brien,whoman-
agesMultimedia.Somepeoplemight
bemorecomfortablewithaudiocon-
ferencecalls,butsuchcallsaremore
impersonal, he said.
“There are employees who like to
bookandschedulemeetingsoneway
becausetheyknowhowitworks.We
haveoutreachprogramstohelpwith
adoption—gettingpeopletobecome
familiar with the technology and
comfortable using it,” O’Brien said.
“Five to 10 years ago, videocon-
ferencingwasstilltheblacksheepof
technology, something science fic-
tion. Now, with people using Face-
Time and Skype at home, they’re
expecting the same things at work.
Using SeeMe and Mobile Telepres-
ence is becoming much more the
norm,” Pitts said.
SeeMe Cloud is catching on
quickly, O’Brien said.
Last year, employees used video
conferencewithclientsandpartners
foranaverageof20business-to-busi-
nessmeetingsamonth.InFebruary,
therewereover900businesstobusi-
ness video conferences.
“That’s just scratching the sur-
face,” he said.
Ray Delaney, head of Enterprise
Mobile, said SeeMe Cloud can be a
big cost-saver for the firm. He said
he’s conducted more than 20 job
interviews using the technology,
whichcanhelpthefirmsavemoney
thatmighthavebeenspentontravel
expenses.
“I’ve even used it from home to
interview people in Singapore,” he
said.
The firm also has two technology
toolsinproduction—AppSphereand
Liquid Workspace — that are trans-
formative platforms that can host
nearly any app.
“AppSphere is an emerging prod-
uctsuitethatwillallowapplications
to work together as an ecosystem,”
said Paul DeFranco, head of Virtual
Application Services.
Liquid Workspace is a new vir-
tual desktop platform that provides
functionalityspecifictoadeveloper’s
unique needs and requirements, he
said.
This is accomplished by allocat-
ingmorecomputingresourcesthan
a typical virtual desktop.
“That will give developers a lot
more flexibility, which will help
everyone,”saidRockyMaufort,who
overseesVirtualWorkspaceServices.
Newtechnologytoolshelpingemployees
Touch screen smart boards and SeeMe Cloud are boosting collaboration
April 2015
Features Ink
Technology
March 14
@sam_ljkent
The old and the new.... The bold
and the beautiful.... #sydneytower
#sydney #australia #jpmorgan
March 5
@IAmKaren
Dear @Chase, Please add Touch ID
to your mobile iOS banking app. It’d
be really helpful for those of us with
an iPhone. Thanks!
March 5
@jasminemailee
Chase the dog! Playing dress up at
work. #throwbackthursday #TBT
#dog #mascot #teller #at #chase
March 6
@RaoDimple
Another reason I LOVE Chase bank.
ATM asked if my withdrawal was ok
in $20 bills or if I needed some other
denomination! Nice!
March 16
@taratvaron
This dude..... #chasebank
#drivethruproblems #getitright
March 1
@rachelquincess
@Chase. I think you should
implement a new policy of paying
someone’s card off every month.
I will gladly volunteer for the trial run.
March 11
@ang_and_dips
Making changes. Oh and I get a
disneyland castle debit card in the
mail!! Yay!! #newaccount
SOCIAL
MEDIA BUZZ
The firm has more than 50 smart
boards, similar to this one, deployed
globally.
making
headlines
The Associated Press and other
media outlets recently reported
that JPMorgan Chase made a $1.2
million donation to Focus: Hope,
a Detroit-based, non-denomina-
tional, nonprofit that works to
overcome racism and poverty by
providing education and training
for minorities and others.
The gift brought the nonprofit’s
final fund-raising total to more
than $102 million. The campaign
began in 2005 and was put on hold
forthreeyearsduringthefinancial
crisis.Itresumedin2011,andmore
than 11,000 donors contributed.
Theorganization’sCEOWilliam
F.JonesJr.saidinastatementthat
thesupport“comesatatimewhen
more and more people are looking
forwaystogetbackontheirfeetand
to feed their families.”
TheCharlotteBusinessJournal
and other media outlets recently
reported that Chase will give Cen-
tralPiedmontCommunityCollege
a$235,000granttofundwhatCPCC
President Tony Zeiss calls a “truck
driver program.”
The global logistics and distri-
bution management technology
program trains students in skills
ranging from transportation and
materialsmanagementtointerna-
tional compliance and documen-
tation.
The firm announced the grant
atthecollege’sfourthGlobalCom-
petitiveness Summit.
The company’s New Skills at
Workdevelopmentprogramworks
to address skills gaps globally by
promoting the creation of oppor-
tunities and supporting training
that meets employer demands for
skilled workers.
The new CPCC degree program
is aimed at meeting local demand,
where 80,000 current logistics-
related jobs are expected to grow
significantlyinnumberthroughthe
end of the decade.
“CPCC’s AAS program in Global
LogisticsandDistributionManage-
mentTechnologywillpreparestu-
dents for jobs in a rapidly growing
andhighlydiversefieldandhelpthe
Charlotte region realize its global
economic vision,” Zeiss said.
For Chase, the grant helps cli-
ents and communities to be glob-
ally competitive, said Craig May,
market manager for the Carolinas.
“When we provide opportuni-
tiesforworkerstocompeteforhigh-
demandjobs,theywillprosperand
our local economies and commu-
nities will prosper and grow with
them,” May said.
JPMorgan Chase recently teamed
up with more than 800 students
at Tolland (Conn.) High School to
package 100,000 meals for people
inneed,WFSB3recentlyreported.
Business students have been
working with the charity Feeding
ChildrenEverywhereandsurpassed
their $10,000 fund raising goal to
package 50,000 meals.
The students then teamed up
with the firm, which helped the
school meet its donation goal of
100,000 meals.
“We decided to raise $10,000 to
feed50,000peopleinourlocalcom-
munity. And we ended up raising
$12,800,” said Jordan Lyonnais, a
senior at Tolland High School.
“And because we’re one of the
first high schools to raise that
amountofmoneyonourown,they
matcheduswithaJPMorganChase
grant, so now we’re doing 100,000
meals. It’s awesome.”
By keeping your passwords secure
and protected, you can help prevent
the unauthorized use of systems
and applications, and protect
unwarranted access to customer,
employee and firm information.
Here are some do’s and don’ts to
keep in mind.
• Do create passwords that
contain upper and lower case
letters combined with numbers,
punctuation and/or symbols.
Place numbers, punctuation
and/or symbols throughout
the password, not only at the
beginning or end.
• Do create unique passwords for
each of your log on accounts
(desktop, Single Sign On and
mobile devices, for example).
• Do remember to select a
colleague to cover for you when
you’ll be out of the office — and
ensure they have their own access
to the systems they need.
• Do watch out for anyone trying to
“shoulder surf,” or watch you type
in your password so he or she can
use it later.
• Don’t use a word contained in any
dictionary, spelling list or other
word list in any language.
• Don’t use personal information.
For example, your name, your user
ID, the name of a spouse, child,
friend or pet.
• Don’t use information that may
be easily obtained, such as
license plate numbers, telephone
numbers, Social Security
numbers, the brand of your
automobile or the name of the
street you live on.
• Don’t use simple transformations
of a word such as reversing the
spelling, changing uppercase to
lower-case or vice versa, or using
all capitalization.
• Don’t share a password or PIN
with a colleague, regardless of
circumstances.
tip SHEET
Password do’s and don’ts
More information online, see Page 8.
7. Q Why is it that when there is a job
posting on the company intranet
with a job grade attached, we aren’t
able to see what kind of salary range
is attached to that job grade?
I’m interested in moving up in the
company and have been looking for
opportunities.
Money isn’t the only factor in my
search, but it’s an important one,
and it makes it difficult to determine
if I want to apply for a given job
when I’m not able to see what the
salary range is.
A The firm doesn’t publicize salary
ranges on job postings because it has
many different businesses, functions
and compensation structures that
may fall within a job grade.
There also may be very broad
salary ranges for job levels, with a big
difference between the minimum and
the maximum.
If you find a posting for a position
that you are interested in and
think you’re qualified for, you can
call the recruiter to discuss salary
information.
The recruiter also can discuss
other aspects of compensation, such
as whether a position is overtime-
eligible, or if there is consideration for
an annual bonus.
Q Does Chase have a policy that
addresses unkempt hair?
I frequently see an employee
around my building who has very
long and scraggly hair, to the bottom
of his back, that doesn’t look clean
or combed. It almost looks like a
really bad witch’s wig that someone
would wear for Halloween.
Aside from looking bad, this is a
sanitary issue for me.
He was at the coffee machine next
to me and every time he moved his
head, his hair was all over the coffee
machine.
A Under the firm’s Workplace Attire
and Professional Appearance policy,
employees are expected to maintain a
professional appearance at all times.
In addition to expectations that
clothes should be neat, clean and
appropriate for the workplace,
employees are expected to practice
good hygiene.
The policy also says that
unprofessional hair styles or hair
colors are unacceptable.
If you think the employee is
violating the policy, you should talk
to your manager so that he or she
can address the situation with the
employee directly, or you could
talk to your Human Resources
representative.
Tien-Tsin Huang
Equity research analyst
Corporate & Investment Bank
Editor’s note This month, we ask
an employee and a hiring manager
whatittakestobeanequityresearch
analyst.
The employee
Tien-TsinHuang,seniorequity
analyst
I started out as an analyst in public
finance and corporate finance in the
investment bank, and I developed a
love for the capital markets.
I quickly learned how research
is so essential to so many parts of
the capital markets and realized it
would be a good fit for me given my
personality and background.
After I completed my analyst
program, I raised my hand and said
I wanted to give research a try. Back
then, the Internet was booming and
technology was hot, so I was really
lucky to join the tech team.
To be successful as a research
analyst, you have to be passionate
about picking stocks and not be
afraid of being right or wrong.
The goal is to be an expert in the
industry you follow, understanding
how companies tick and what the
big issues are for each stock you
cover. Ultimately, you have to be
intellectually honest with a sound
opinion.
I cover 25 companies from the
tech services and payments space,
including Visa and MasterCard,
both clients of Chase, which is also a
big credit card issuer. So day-to-day,
it’s following news flow.
Those are tangible brands that we
use every day, so it’s fun to see how
their competitive positioning is
changing as the world is evolving in
payments.
In the last three to four years, we’ve
seen a significant amount of change
in payments, so it’s really fun to
track it now.
I advise institutional investors like
T. Rowe Price or Fidelity. Some have
a long-term focus on stocks, some
short-term.
My opinion may or may not end
up being right, and that’s available
for all to see and criticize. But that’s
what makes the job fun as well. You
have to have tough skin because the
job is so public.
The hiring manager
NickRosato
I oversee our 48 senior analysts in
North America equity research.
They cover a variety of sectors,
ranging from Internet to agricultural
equipment to autos to banks.
We cover over 1,150 stocks, which
is among the broadest coverage on
the Street.
What every senior equity analyst
does is basically run his or her own
franchise.
To be successful, senior analysts
not only have to understand security
analysis and industry analysis
for the stocks they cover, and
make stock recommendations to
institutional clients, but they need
to develop relationships with the
companies they cover, within the
industries they’re covering, and
with internal partners in sales and
trading.
You have to have an analytical
mind and an extroverted
personality, which sometimes isn’t a
natural fit.
Tien-Tsin knows his companies
inside out. He’s very thoughtful
about how he approaches his
research process.
He has built great relationships
and is really considered a thought
leader on the Street, in our
department and within the firm.
April 2015
Ink WorkingLife
What it
takes
to be an
ask?ink
7
HowisChasedifferentfromother
bigbanks?
We’ve got the best customer service
of any of the big banks, and that’s
gone up notably for the past four
years.
I also think we’re much more of
a consumer-empowerment brand
than the other big banks. That comes
from standing for service first and
being a brand that genuinely has the
customer’s back.
HowdocustomersseeChase?
The great thing is that customers
are incredibly loyal to the product
they have or to the banker they see in
their branch every day.
We don’t yet have the kind of
loyalty to the Chase brand that
we probably deserve, and that’s
something we have some work to do
on. Someone may be loyal to their
Sapphire card or someone may be
loyal to Jenny who they see in the
branch every day, but we haven’t
yet given them enough of a reason
to believe they’re going to have that
same great experience across Chase.
The data shows that the number of
customers who have more than one
product with us has not changed all
that much in four years. So our No. 1
goal in Marketing this year is to build
more multiproduct relationships
with our customers.
WillyoubedoingmoreTVads,
Internetads,radiocommercials
orsponsorshipsin2015?
We have a highly disciplined process
to look at that mix as well as at the
balance between what we spend on
acquiring new customers, what we
spend on deepening relationships
with our existing customers and
what we spend on building our
brand.
Clearly we’re moving toward a
digital-first customer experience at
Chase and that is true of media as
well. So our TV advertising spend is
still strong but it’s come down over
the past four years and the mix of
digital advertising and acquisition
has gone up.
One advantage that we have is that
our owned channels — chase.com,
the mobile app, 5,000-plus branches,
18,000 ATMs, the Times Square sign
— can reach 50 million people before
we spend a dollar on paid media, so
that’s a great asset.
HowdoyoufitChase,J.P.Morgan
andJPMorganChase&Co.
together?
The JPMorgan Chase & Co. brand
positioning is “to make a positive
difference in the communities we do
business in,” and the Chase brand
positioning is to “empower lives rich
with possibilities.” They’re unique to
their individual brands but they’re
also very consistent.
The Chase brand’s health and
satisfaction is very high — it’s
No. 1 in nearly every business.
The JPMorgan Chase & Co. brand
is getting better and is the best of
the big banks, but the bank scores
overall aren’t great.
What that tells me is that people
love banking with Chase, they love
their banker but they don’t like
the “big banks.” So it’s important
to bridge the disconnect between
JPMorgan Chase & Co. as a
monolithic “big bank” and the great
experience clients are having with
their banker or their product.
The J.P. Morgan brand has also
seen brand lift recently. But I think
the way we all view the value of the
work we do is much higher than how
all of our brands are perceived with
the general public. So there is work
to do to demonstrate there’s social
value in banking.
Howdoyoudeterminewhich
businessgoalstosupport?
That’s up to the business. I tell
my team that you are two things:
You’re here to provide unique and
measurable value to the business,
and you’re here to be stewards of the
brand.
So we’ve aligned ourselves
very closely with the goals of our
businesses. The businesses should
be able to say at the end of the year
that they could not have achieved
those goals without the support of
their marketing team.
Hometown Boston. I am a lifetime
Red Sox and Patriots fan.
Family Married with two great kids,
ages 6 and 8.
First job Selling luxury toilet seats
at a mall in high school.
Hobbies I spend time with my kids,
most days I’m a good wife, I’m very
involved in gun safety causes, and I
think that’s about all I have time for.
Tactics for staying healthy I try to
do activities with my kids so I don’t
have to spend time at a gym. Also,
maintaining a positive attitude goes
a long way.
Favorite TV show My kids and I are
obsessed with “The Voice.”
Kristin Lemkau
Chief Marketing Officer
15minuteswith
Photo:JasonAndrew
To find open positions in this or other roles, go to
JobConnect.
Background Markets
knowledge
Key skills Analytical
and extroverted
Wild card Having a thick
skin
8. 8
Hong Kong
Employeescoordinate
fooddonationsfor
threecharities
Employees in the Private Bank and
Investment Management recently
coordinated food donations for
three local charities: Food Angel,
Feeding Hong Kong and Foodlink.
Each of the three charitable
organizations had different food
needs. To accommodate their
London
Cityisthelatest
tojoinGlobalCities
Initiative
London recently became the latest
city in the Global Cities Initiative,
a partnership between the firm
and the Brookings Institute think
tank designed to foster financial
relationships between cities
worldwide.
“Keeping London competitive
has never been more important,
and the challenge of increasing the
export of goods and services should
never be underestimated,” said
Sir Edward Lister, chief of staff to
Mayor Boris Johnson.
Peter Kaldes, the firm’s head of
Global Cities, said there are ways to
diversity London’s exports. While
London has a thriving financial
services sector, it wants to attract
more manufacturers to increase
exporting from the region.
“There’s a real opportunity for
U.K. cities to deepen ties with the
U.S., and the partnership with the
Global Cities Initiative will allow
for our city councils to learn from
each other to help grow our local
economies.”
Columbus, Ohio
Employeesvolunteer
withlong-standing
foodbank
Members of J.P. Morgan’s
Investment Management
Operations team recently helped
feed the hungry by inspecting,
sorting and packing donated food
and grocery items.
“I was thinking how we could do
something productive to benefit
our community,” said Peter
Vaughan, who leads philanthropy
for the team. “So I contacted the
Mid-Ohio Foodbank to see if there
were any projects for us. Sure
enough there were.”
Since 1980, the food bank has
been working to obtain and
distribute food across central and
eastern Ohio.
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FieldReport Ink
Firm among many multinationals that
use Ireland to sell into rest of Europe
By Cameron Martin
With deep cultural ties with the
United States, membership in the
EuropeanUnion,acompetitivecor-
porate tax rate and the only native-
English speaking workforce in the
Eurozone, Ireland has long been a
footholdforAmericanmultination-
als such as J.P. Morgan that want to
do business with the rest of Europe.
ThefirmtracesitsrootsinIreland
back to 1919, when The National
Land Bank was established under
the direction of Michael Collins, a
famous figure in Irish nationalist
history.
Renamed in 1927, National City
Bank operated until 1968, when the
Bank of Ireland entered into a joint
venturewithChaseManhattanBank.
The firm now has more than 540
employeesinDublin,withthelargest
footprintbeing anoperationscenter
forservicingEuropeanmutualfunds,
hedgefunds,privateequityandother
alternative investment funds.
Thefirmalsoprovidescashman-
agement services to Treasury Ser-
vices and Commercial Banking
clients — largely multi-nationals or
subsidiaries of U.S. firms who have
established in Ireland and are look-
ing for a global cash management
provider.
IrelandalsoboaststheonlyChase-
branded business outside of North
America, with the establishment in
2009 of Chase Paymentech’s Euro-
pean headquarters in Dublin.
Ireland’s Senior Country Officer,
CarinBryans,whogrewupinIreland
butwenttocollegeattheUniversity
of Texas, has worked for the firm
since 1990.
She has seen the Dublin office
growfromfiveemployeestoitspres-
ent size.
“Merrill Lynch was our first fund
clientandwesetupaservicingoffice
tosupportthefundsthattheyestab-
lished in Ireland to then sell across
Europe,” Bryans said.
“Back then, you did everything
from answering the phones to par-
ticipatinginsalespitches,”shesaid.
“There was no hierarchy and
everyone pitched in and did a little
bit of everything. That obviously
changedastheindustryandourbusi-
ness grew in size and scale.”
Back in the early 1990s, Ireland
sought to create a hub for interna-
tional financial services through
government support and tax con-
cessions, Bryans said.
These tax concessions were
removed a long time ago, but clus-
ters of businesses emerged, largely
as a result of the specialist talent
available.
Irelandhasbecomeamajordomi-
cileforfundsthatarenowsoldcross-
border into countries all over the
world, as well as the location from
whichover42percent oftheworld’s
hedge funds are serviced.
Today, the firm’s chief clients in
Irelandaretheinvestmentmanage-
ment corporation BlackRock, Inc.
and Vanguard mutual fund.
Ireland has also been successful
at attracting other sectors, such as
healthcare,technology,socialmedia
and gaming.
There are now over 1,200 multi-
nationalswithofficesinthecountry,
includingGoogle,Apple,Facebook,
eBay,LibertyMutualandLinkedIn.
Irelandhasasmalldomesticecon-
omy given its population size, but
has subsisted by being a very open
economy that has attracted foreign
direct investment, Bryans said.
TheIrisheconomywasstrongdur-
ing the so-called Celtic Tiger boom
of the late 1990s.
The 2008 world financial crisis
and the bursting of a local property
bubble hit the country hard, and
unemployment rose to more than
15 percent.
Thecountry’seconomyhadtobe
bailed out and austerity programs
were instituted to curb costs.
“This was done with very little
socialunrest,andcontinuedpolitical
stability, which was key in ensuring
that multinationals remained com-
fortableandsecureindoingbusiness
here,” Bryans said.
Irelandhasemergedfromitsbail-
out and is now the fastest-growing
economy in the EU at 4.6 percent
in 2014, and unemployment is now
under 10 percent for the first time
since 2008.
“Thereareexcitingthingshappen-
ing in Ireland,” Bryans said. “We’ve
seenanuptickinbusinessopportu-
nitiesandmandatesacrossourbusi-
nesses,andwehavealsoexperienced
recent growth in our footprint with
the centralization of all Alternative
Fund servicing for EMEA into Dub-
lin.”
Given the growth in e-commerce
and online purchasing in Europe,
ChasePaymentechisalsowell-posi-
tioned, Bryans said.
Morethan50percentofthepopu-
lation of Ireland is under 35 years of
age, and there is a renewed vibrant
energyinDublin,whichmakesitan
exciting place to live and work, Bry-
ans said.
“We’re such an international and
a young country.”
April 2015
JPMorgan Chase has roots in Dublin that trace back to 1919.
8
More info
online
Photo: istock Photo
on locatioN
dUBLIN,
iRELAND
‘There are exciting things
happening in Ireland.’
Carin Bryans
San Diego
Summithighlights
city’seconomic
opportunities
The firm recently sponsored the
Go Global San Diego economic
summit. During the event, the firm
unveiled an export and foreign-
direct investment plan for the
city as part of the Global Cities
Initiative, a collaboration between
the firm and the Brookings
Institute think tank designed to
bolster partnerships between world
cities.
San Diego has the 17th-largest
economy in the U.S., but ranks 61st
when it comes to export intensity
and 49th in terms of the percentage
of jobs located in foreign-owned
firms, according to Brookings.
This means San Diego has a
strong opportunity to increase its
level of economic engagement.
“JPMorgan Chase is proud to
be a part of the development
of the Global San Diego plan,”
said Brennon Crist, head of
JPMorgan Chase’s Middle Market
Commercial Banking group in San
Diego. “International trade and
investment represents a promising
path for our locally based
businesses to create jobs and grow
our economy.”
Dallas
Chasevolunteershelp
pairfamilieswith
homelesspets
Chase recently teamed up with
the Dallas Companion Animal
Project to help homeless pets in the
community get new homes.
Led by volunteer leads Julia
Stocker and Charley Fobert, more
than 50 employees and others
participated in the adoption
weekend. Volunteers spent more
than 300 hours setting up kennels,
walking, holding and introducing
animals to potential families —
and 52 dogs and three cats found
new homes, which opened an
additional 55 spots for homeless
animals at the Dallas Animal
Shelter.
“You all really rocked it all
weekend. An amazing number
of pets are in their homes and we
never could have managed it all
without the fantastic volunteers
from JPMorgan Chase,” said Sandie
Dorazia, volunteer coordinator for
Dallas Companion Animal Project.
requests, the event was held over
three weeks, with a focus on a
different organization and theme
each week.
Non-perishable whole-grain
items were collected for Food
Angel.
Canned and dried fruits and
vegetables were collected for
Feeding Hong Kong.
Protein-rich items were collected
for Foodlink.
With more than 800 employees
participating, enough food was
collected to provide about 5,000
meals.
The firm’s office in Dublin serves
clients across Ireland and beyond.
