JPMORGAN CHASE & CO

JPMorgan Chase & Co. is a diversified global financial services firm that serves consumers, corporations, institutions and governments. Its core businesses include consumer banking under the Chase brand, commercial and investment banking via J.P. Morgan, and asset & wealth management. The firm generates revenue from net interest income, fees and commissions, trading and advisory activity, and investment management fees.^[1]

Business Segments

• Consumer & Community Banking (retail deposits, cards, mortgages, branch & digital services): approximately 40% of managed net revenue.^[2]
• Commercial & Investment Bank (corporate banking, markets trading, payments, investment banking): approximately 39% of managed net revenue.^[2]
• Asset & Wealth Management (AUM, advisory, mutual funds, wealth advisory): roughly 12% of managed net revenue.^[2]
• Corporate & other (treasury, reconciling items and corporate activities): the remainder (~9–10%) after segment allocations.^[2]

Competitive Position

• Scale and breadth: market-leading franchises across consumer banking, payments, investment banking and asset management create cross-selling opportunities and diversified earnings.^[3]
• Franchise advantages: strong deposit base, extensive branch/digital footprint (Chase) and a top-ranked investment banking platform support high client retention and pricing power.^[3]

Investment Considerations

• Diversified, countercyclical cash flows: mix of net interest income and fee-based businesses can help stabilize earnings across rate and market cycles.^[2]
• Scale-driven efficiencies and reinvestment: large balance sheet and operating scale enable investment in technology, payments and wealth capabilities, which can sustain competitive advantage.^[4]
• Regulatory, capital and resolution risk: as a systemically important global bank, regulatory requirements, capital buffers and potential resolution planning materially affect distributions and strategic flexibility.^[2]
• Credit, market and reputational risk exposure: lending cycles, trading losses or high-profile legal/regulatory matters can affect capital and earnings; risk management and provisioning are central to outcomes.^[2]