JPMorgan Chase & Co. Presents at BancAnalysts Association of Boston Conference, Nov-05-2020 09:40 AM - NYSE:JPM

NYSE:JPM

Mary Erdoes, an executive at JPMorgan Chase & Co., presented at the BancAnalysts Association of Boston Conference on November 5, 2020. Here are the key points she addressed:

1. Introduction: Mary expressed her enthusiasm about participating in the conference despite the virtual format.

2. Reflections on 2020: She noted that 2020 had been unexpectedly strong for asset management firms, including JPMorgan Asset & Wealth Management, despite initial uncertainties about how the year would shape up.

3. Diversification and Performance: JPMorgan Asset & Wealth Management has set medium-term targets and achieved strong performance, with nearly 80% of its 10-year strategies ranking above the peer median.

4. Flows and Geographical Diversification: The firm has experienced robust flows due to its geographical diversification, allowing it to maintain positive inflows even when certain regions experience downturns.

5. Wealth Management Solutions: On the wealth management side, JPMorgan provides comprehensive solutions, including loans and deposits, which have been particularly relevant given the current interest rate environment.

6. Brokers and Client Activity: Clients have been actively engaging in the markets, particularly in the international private banking markets, taking sizable positions in various sectors.

7. Strategic Outlook: Mary discussed the firm’s priorities, including expanding its wealth management footprint, focusing on China, and emphasizing ESG (Environmental, Social, and Governance) investing.

8. Technology and AI: She highlighted the increased use of AI and machine learning to enhance efficiency and improve client services, especially in the context of the pandemic.

9. Wealth Management Business: Mary spoke about the history of JPMorgan’s wealth management business and its efforts to expand through the Chase branch network, offering a continuum of services from retail to private banking.

10. Hiring and Talent: Despite the challenges posed by the pandemic, JPMorgan has successfully hired top talent, benefiting from candidates being more accessible and interested in the firm’s values and culture.

11. Client Relationships: Mary emphasized the importance of investment performance, trust, and offering holistic solutions to clients.

12. Market Trends and Client Behavior: She discussed how clients have shifted their investments, moving from cash to various asset classes, and the growing interest in emerging markets and alternative investments.

13. Less Liquid Markets: Mary noted a trend towards less liquid markets, such as private credit and real estate, as clients seek to avoid daily volatility.

14. Consolidation in the Industry: She commented on the consolidation of asset management firms driven by the need for scale to invest in talent and technology.

15. Mergers and Acquisitions (M&A): Mary shared insights into the factors considered in M&A deals, including revenue and expense synergies, and the importance of cultural fit.

16. Margin Compression: She explained JPMorgan’s approach to managing margin compression, focusing on innovation and client needs rather than driving outcomes solely based on financial metrics.

17. Branch Operations During COVID-19: Mary discussed how JPMorgan’s branches remained operational throughout the pandemic, adapting to meet client needs and facilitating advice-driven interactions.

18. ESG Integration: She clarified that JPMorgan views ESG as an integrated part of its investment process rather than a separate product line, emphasizing the importance of client choice in ESG investing.

These points provide a comprehensive overview of Mary Erdoes’s presentation at the conference, covering various aspects of JPMorgan’s asset and wealth management business.