Jamie Dimon’s Letter to Shareholders Jamie Dimon

Throughout our history, JPMorgan Chase has built its reputation on being there for clients, customers and communities in the most critical times. This unprecedented environment is no different. Our actions during this global crisis are essential to keeping the global economy going and will be remembered for years to come.

Dear Fellow Shareholders,
Once again, I begin this annual letter to shareholders with a sense of pride about our company and our hundreds of thousands of employees around the world. As I look back on the last decade — a period of profound political and economic change — it is remarkable how much we have accomplished, not only in terms of financial performance but in our steadfast dedication to help clients, communities and countries all around the world.

First and foremost, we look at our business from the point of view of the customer.
We endeavor to be the best at anything and everything we do.
We will maintain a fortress balance sheet — and fortress financial principles.
We lift up our communities.
We take care of our employees.
We always strive to learn more about management and leadership.
We do not worry about some issues.

We need to continue to restore trust in the strength of the U.S. banking system and global systemically important financial institutions.
We have to remind ourselves that responsible banking is good and safe banking.
We believe in good regulation — both to help America grow and improve financial stability.
We believe stock buybacks are an essential part of proper capital allocation but secondary to long-term investing.
On the importance of the cloud and artificial intelligence, we are all in.
We remain devoted and diligent to protect privacy and stay cyber safe — we will do what it takes.
We know there are risks on the horizon that will eventually demand our attention.
We are prepared for — though we are not predicting — a recession.

The American Dream is alive — but fraying for many.
We must have a proper diagnosis of our problems — the issues are real and serious — if we want to have the proper prescription that leads to workable solutions.
All these issues are fixable, but that will happen only if we set aside partisan politics and narrow self-interest — our country must come first.
Governments must be better and more effective — we cannot succeed without their help. The rest of us could do a better job, too.
CEOs: Your country needs you!
America’s global role and engagement are indispensable.

While I have a deep and abiding faith in the United States of America and its extraordinary resiliency and capabilities, we do not have a divine right to success. Our challenges are significant, and we should not assume they will take care of themselves. Let us all do what we can to strengthen our exceptional union.
I would like to express my deep gratitude and appreciation for the employees of JPMorgan Chase. From this letter, I hope shareholders and all readers gain an appreciation for the tremendous character and capabilities of our people and how they have helped communities around the world. I hope you are as proud of them as I am.
Jamie Dimon
Chairman and Chief Executive Officer
April 4, 2019
 
You can find the annual letter to shareholders at jpmorganchase.com.