26th Oct 2006 13:00
William B. Harrison, Jr. announced today his intention to retire as Chairman anda Director of JPMorgan Chase & Co. (NYSE: JPM), effective December 31, 2006. Itis expected the Board of Directors will elect Chief Executive Officer JamieDimon to the additional role of Chairman when Mr. Harrison retires. "I have worked my entire career - nearly 40 years - at JPMorgan Chase and itspredecessor firms, and I am very proud of the leading role we have played in thetransformation of global banking and the creation of our world-class franchise,"Mr. Harrison said. "I could not be more excited about the future of our firm andthe leadership that Jamie Dimon is providing." Mr. Dimon added, "Bill Harrison has been a tremendous partner and mentor to me.He is a first-class individual - decent and generous. Bill's strategic visionand his ability to manage complex change have been instrumental in positioningour firm as a leader in global finance. I will miss Bill but hope to continue tobenefit from his wise counsel." Below are biographies of Mr. Harrison, 63, and Mr. Dimon, 50. JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firmwith assets of $1.3 trillion and operations in more than 50 countries. The firmis a leader in investment banking, financial services for consumers, smallbusiness and commercial banking, financial transaction processing, asset andwealth management, and private equity. A component of the Dow Jones IndustrialAverage, JPMorgan Chase serves millions of consumers in the United States andmany of the world's most prominent corporate, institutional and governmentclients under its JPMorgan and Chase brands. Information about the firm isavailable at www.jpmorganchase.com. William B. Harrison, Jr. Mr. Harrison is Chairman of the Board of JPMorgan Chase, which merged with BankOne Corporation on July 1, 2004. He was Chairman and Chief Executive Officer ofJPMorgan Chase from November 30, 2001 to December 31, 2005. Previously, he heldthe position of President and Chief Executive Officer of JPMorgan Chase sinceJanuary 1, 2001. Prior to the merger with J.P. Morgan & Co., Incorporated, Mr.Harrison was Chairman and Chief Executive Officer of the Chase ManhattanCorporation, a position he held since January 1, 2000. He was named Presidentand Chief Executive Officer of Chase on June 1, 1999. Prior to that, he was ViceChairman at Chase, responsible for all wholesale banking operations, includinginvestment banking, capital markets and private equity businesses. He had thosesame responsibilities at the Chemical Bank, prior to its merger with Chase in1996. Mr. Harrison joined Chemical in 1967. In 1976, he was appointed to District Headof the Western Region based in San Francisco. In 1978, he moved to London totake responsibility for the bank's U.K. business and in 1982 was promoted toDivision Head of Europe. He returned to the U.S. in 1983 to run the U.S.Corporate Division and in 1986 was put in charge of the bank's global Bankingand Corporate Finance group. He was named a Vice Chairman of Chemical in August1990. Mr. Harrison is a director of Merck & Co., Inc., and a director of CousinsProperties, Inc. He is a member of The Business Council, The Financial ServicesForum, and The Financial Services Roundtable. He serves on the Board of Visitors of the University of North Carolina'sKenan-Flagler Business School, the Board of Directors of Lincoln Center for thePerforming Arts, Inc., the Board of Directors for Catalyst, and a member of theBoard of Overseers of Memorial Sloan-Kettering Cancer Center. He is also on theBoard of Directors of the Partnership for New York City and a member of theBoard of the World Trade Center Memorial Foundation. Mr. Harrison, who was bornin 1943 in Rocky Mount, North Carolina, received an A.B. degree in Economicsfrom the University of North Carolina and is a graduate of the Harvard BusinessSchool's International Senior Management Programme in Switzerland. Mr. Harrison and his wife, Anne, have two daughters. Jamie Dimon Jamie Dimon became Chief Executive Officer of JPMorgan Chase & Co. on January 1,2006. In addition, Mr. Dimon is President of the company, a title he assumedupon the company's merger with Bank One Corporation on July 1, 2004. As Chairman and CEO of Bank One for four years, Mr. Dimon engineered a dramaticturnaround at the company - taking the bank from a half-billion-dollar loss in2000 to record earnings of $3.5 billion in 2003. Mr. Dimon strengthened themanagement team by promoting talented managers and by recruiting experiencedleaders. The company also fortified its balance sheet, improved the service itprovides customers, upgraded to a single technology platform and moved to asingle brand. Mr. Dimon began his professional career at American Express Company, serving asAssistant to the President from 1982 until 1985. He then became a key member ofthe team that launched and defined the strategy for Commercial Credit Company inOctober 1986, when the consumer lending company was spun off from Control DataCorporation. He served as Chief Financial Officer and an Executive VicePresident, and then President. A completely restructured Commercial Credit madenumerous acquisitions and divestitures, substantially improving itsprofitability. Most significantly, in 1987, it acquired and changed its name toPrimerica Corporation, which in 1993 acquired The Travelers Corporation and wasrenamed Travelers Group. At Travelers, Mr. Dimon was President and Chief Operating Officer for sevenyears. He was named Chairman and Chief Executive Officer of its Smith BarneyInc. subsidiary in January 1996, having previously been the firm's ChiefOperating and Chief Administrative Officer. In November 1997, with the merger ofSmith Barney and Salomon Brothers, he became Co-Chairman and Co-CEO of thecombined firm. In 1998, he was named President of Citigroup Inc., the globalfinancial services company formed by the combination of Travelers Group andCiticorp in 1998. In addition, he served as Chairman and Co-Chief ExecutiveOfficer of Salomon Smith Barney Holdings Inc., the investment banking andsecurities brokerage subsidiary. A summa cum laude graduate of Tufts University, Mr. Dimon holds an MBA degreefrom the Harvard University Graduate School of Business, where he was a BakerScholar. He serves on the Board of Directors of a number of non-profitinstitutions, including University of Chicago, Harvard Business School and theUnited Negro College Fund. Mr. Dimon and his wife, Judy, have three daughters. \* TJPMorgan Chase & Co.Investors:Julia Bates, 212-270-7318orMedia:Joe Evangelisti, 212-270-7438\* T Copyright Business Wire 2006Related Shares:
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