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JPMORGAN CHASE : Executive Mel Martinez Takes on Added Role as Chairman of JPMorgan Chase Foundation

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05/03/2011 | 03:20pm CEST

Mel Martinez, JPMorgan Chase's senior executive in Florida and the region, has taken on additional duties as Chairman of the company's foundation, which donates more than $150 million around the world each year.

Martinez, who served in the U.S. Senate and as Secretary of Housing and Urban Development, joined JPMorgan Chase last year and will continue to represent the firm at the most senior level as chairman of Florida, Mexico, Central America and the Caribbean.

"Mel has been a terrific leader both inside the company and with our clients and our communities," said Jamie Dimon, Chairman and Chief Executive Officer of JPMorgan Chase. "He knows the important role our firm plays locally, nationally and internationally, and his experience, integrity, judgment and compassion will serve us all well."

Martinez will oversee the firm's philanthropic organization, which gave more than $150 million through grants and sponsorships to thousands of not-for-profit organizations across 28 states and more than 25 countries last year. He succeeds Bill Daley, who left the firm to become President Obama's Chief of Staff.

Martinez emigrated from Cuba in the early years of the Castro regime as a teenager through Operation Peter Pan, a humanitarian program that relocated 14,000 Cuban children. After living with his younger brother in refugee camps and foster homes, Martinez worked his way through school, earning undergraduate and law degrees from Florida State University.

"My American Dream came true, thanks to the generosity of Americans who wanted to help young people like my brother and me," said Martinez. "I feel personally that we all have a tremendous responsibility to help others and I am pleased to work with my Foundation colleagues who have done an outstanding job of representing the best that corporate philanthropy can be."

He worked as an attorney in Orlando for 25 years while serving in leadership roles on a Who's Who of youth, civic and business organizations. He was first elected to public office in 1998 as Mayor of Orange County, representing the greater Orlando area.

At President Bush's request, he became HUD Secretary in 2001 and was elected as the first Cuban-American to the U.S. Senate in 2004.

JPMorgan Chase has more than 15,000 employees working in Florida and serves consumers and businesses through more than 280 Chase bank branches and 1,200 ATMs across the state. The firm announced last week that it plans to add 37 more Chase bank branches in Florida this year - adding more than 400 jobs to better serve customers.

About JPMorgan Chase & Co.

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 world's 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.

JPMorgan Chase & Co.
Media Contact:
Nancy L. Norris, office 502-566-3620
cell 502-777-6379

© Business Wire 2011
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Financials ($)
Sales 2016 97 447 M
EBIT 2016 36 113 M
Net income 2016 21 312 M
Debt 2016 -
Yield 2016 2,71%
P/E ratio 2016 11,82
P/E ratio 2017 11,05
Capi. / Sales 2016 2,56x
Capi. / Sales 2017 2,49x
Capitalization 249 696 M
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Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 72,1 $
Spread / Average Target 4,4%
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James Dimon Chairman, President & Chief Executive Officer
Matthew E. Zames Chief Operating Officer
Marianne Lake Chief Financial Officer & Executive Vice President
Dana S. Deasy Chief Information Officer
Lee R. Raymond Lead Independent Director
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