Jamie Dimon's Letter to Shareholders: Recent Episodes
Jamie Dimon
Dear Fellow Shareholders:
We are facing challenges at every turn: a pandemic, unprecedented government actions, a strong recovery after a sharp and deep global recession, a highly polarized U.S. election, mounting inflation, a war in Ukraine and dramatic economic sanctions against Russia.
While all this turmoil has serious ramifications on our company, its effect on the world — with the extreme suffering of the Ukrainian people and the potential restructuring of the global order — is far more important.
Adding to the disruption, these events are unfolding while America remains divided within its borders, with many arguing that it has lost its essential leadership role outside of its borders and around the world.
But during this difficult time, we have a moment to put aside our differences, offer solutions and work with others in the Western world to come together in defense of democracy and essential freedoms, including free enterprise.
We have seen America, in partnership with other countries around the globe, come together previously during instances of conflict and crisis.
Dear Fellow Shareholders:
We are facing challenges at every turn: a pandemic, unprecedented government actions, a strong recovery after a sharp and deep global recession, a highly polarized U.S. election, mounting inflation, a war in Ukraine and dramatic economic sanctions against Russia.
While all this turmoil has serious ramifications on our company, its effect on the world — with the extreme suffering of the Ukrainian people and the potential restructuring of the global order — is far more important.
I would like to express my deep gratitude and appreciation for the more than 270,000 employees, and their families, 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.
Dear Fellow Shareholders,
2020 was an extraordinary year by any measure.
It was a year of a global pandemic, a global recession, unprecedented government actions, turbulent elections, and deeply felt social and racial injustice.
It was a year in which each of us faced difficult personal challenges, and a staggering number of us lost loved ones.
It was also a year when those among us with less were disproportionately hurt by joblessness and poverty.
And it was a time when companies discovered what they really were and, sometimes, what they might become.
Watching events unfold throughout the year, we were keenly focused on what we, as a company, could do to serve.
Public Policy — American Exceptionalism, Competitiveness and Leadership: Challenged by China, COVID-19 and Our Own Competence
From this letter, I hope shareholders and all those listening gain an appreciation for the tremendous character and capabilities of our people and how they have helped communities around the world.
Introduction
Section I: The Corporate Citizen: The Purpose of a Corporation
Section II: Lessons from Leadership
Section III: Banks' Enormous Competitive Threats — from Virtually Every Angle
Section IV: Specific Issues Facing Our Company
Section V: COVID-19 and the Economy
Section VI: Public Policy — American Exceptionalism, Competitiveness and Leadership: Challenged by China, COVID-19 and Our Own Competence
In Closing
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.
This is Jamie Dimon, and I want to thank you for taking the time to listen to my annual letter to our shareholders. While we’ve enlisted some help to narrate the letter, the words you’re about to hear are mine – and they’re straight from my heart. I’m so proud of this company, and in my letter you’ll see why. I cover topics that I view as most important to our shareholders, clients, customers, employees, communities and, importantly, our country. You’ll hear more about our business principles and strategies, as well as my thinking about current critical issues and my views on public policy.Thanks again for listening and I hope you find the letter informative.