JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States, with global operations. As of December 31, 2023, it had $3.9 trillion in assets and $327.9 billion in stockholders' equity. The firm operates in investment banking, consumer and small business financial services, commercial banking, financial transaction processing, and asset management. It primarily serves customers in the U.S. using the J.P. Morgan and Chase brands, but also serves prominent corporate, institutional, and government clients worldwide.

JPMorgan Chase Bank, National Association is the firm's main bank subsidiary, with branches across 48 states and Washington, D.C. J.P. Morgan Securities LLC is its principal non-bank subsidiary in the U.S. Globally, J.P. Morgan Securities plc (U.K.) and J.P. Morgan SE (Germany) are key operating subsidiaries. The firm faces competition from various financial institutions, including banks, brokerage firms, investment companies, and online platforms.

• Employees: 309,926 (as of December 31, 2023)
• Geographic Footprint: 65 countries
• Headquarters: New York, NY
• Founded: 1968
• Number of locations/facilities: Information not provided in the 10-K
• Revenue: $158.1 billion (FY2023)
• Market Capitalization: $489.3 billion (as of December 31, 2023)
• Key Subsidiaries/Brands: JPMorgan Chase Bank, N.A., J.P. Morgan Securities LLC, J.P. Morgan Securities plc, JPMSE

• CEO: Jamie Dimon (Chairman and CEO since December 2006 and December 2005, respectively)
• CFO: Jeremy Barnum (since May 2021)
• Board Chairman: Jamie Dimon
• Other Key Executives: Ashley Bacon (Chief Risk Officer), Lori Beer (Chief Information Officer), Mary Callahan Erdoes (CEO of Asset & Wealth Management), Stacey Friedman (General Counsel), Marianne Lake (Co-CEO of Consumer & Community Banking), Robin Leopold (Head of Human Resources), Douglas B. Petno (CEO of Commercial Banking), Jennifer A. Piepszak (Co-CEO of Consumer & Community Banking), Daniel E. Pinto (President and Chief Operating Officer, and CEO of the Corporate & Investment Bank), Peter L. Scher (Vice Chairman)

• Annual Revenue: $158.1 billion (FY2023)
• Net Income: $49.6 billion (FY2023)
• Market Cap: $489.3 billion (as of December 31, 2023)
• Total Assets: $3.9 trillion (as of December 31, 2023)
• Number of Employees: 309,926 (as of December 31, 2023)
• Key Financial Highlights: Net income increased 32% year-over-year. Revenue increased 23% year-over-year, driven by higher net interest income. Return on Equity (ROE) was 17%.

JPMorgan Chase offers a wide range of financial products and services through its various business segments:

• Consumer & Community Banking (CCB): Deposit and investment products, lending (including home lending, credit cards, and auto loans), cash management, payments, and services for consumers and small businesses.
• Corporate & Investment Bank (CIB): Investment banking, market-making, prime brokerage, lending, treasury and securities services for corporations, investors, and financial institutions.
• Commercial Banking (CB): Financial solutions including lending, payments, investment banking, and asset management for middle market companies, large corporations, and commercial real estate clients.
• Asset & Wealth Management (AWM): Multi-asset investment management, wealth management, and retirement services for institutional and individual investors, as well as high-net-worth clients.

JPMorgan Chase operates through four main business segments:

• Consumer & Community Banking (CCB): 38% ROE, 50% Overhead Ratio. Revenue of $70.1B, Net Income of $21.2B.
• Corporate & Investment Bank (CIB): 13% ROE, 59% Overhead Ratio. Revenue of $48.8B, Net Income of $14.1B.
• Commercial Banking (CB): 20% ROE, 35% Overhead Ratio. Revenue of $15.5B, Net Income of $6.1B.
• Asset & Wealth Management (AWM): 31% ROE, 64% Overhead Ratio. Revenue of $19.8B, Net Income of $5.2B.

The firm also has a Corporate segment which includes Treasury and CIO, and Other Corporate, with a net income of $2.8 billion.

JPMorgan Chase's business strategy focuses on maintaining a "fortress balance sheet" emphasizing risk-adjusted returns, strong capital, and robust liquidity. The firm prioritizes long-term stability to support investment in market-leading businesses and aims to adapt to evolving market conditions and regulatory requirements.

Key strategic priorities include leveraging technology, expanding market share, and serving a diverse client base. Growth strategies include organic growth within existing businesses, strategic acquisitions, and principal investments. The firm also emphasizes responsible business practices and considers environmental and social factors in its decision-making.

JPMorgan Chase operates within the highly competitive global financial services industry. Key competitors include other banks, brokerage firms, investment companies, asset managers, and financial technology companies. The industry is subject to extensive and evolving regulations, impacting the firm's operations and strategic decisions. Market trends include increasing competition from non-traditional financial service providers, technological advancements, and heightened regulatory scrutiny.

• Regulatory Risks: Changes in laws, regulations, and their enforcement can significantly impact the firm's operations and profitability.
• Market Risks: Economic downturns, market fluctuations, and changes in interest rates and credit spreads can negatively affect the firm's businesses and investments.
• Credit Risks: Adverse changes in the financial condition of clients and counterparties can lead to credit losses and increased expenses.
• Liquidity Risks: Market disruptions, unexpected outflows, or loss of confidence could impair the firm's ability to meet its obligations.
• Operational Risks: Dependence on technology and operational systems exposes the firm to disruptions, cyberattacks, and other events that can harm its operations and reputation.