New York, June 6, 2011 - JPMorgan Chase (NYSE: JPM) announced today that it has appointed Glenn F. Tilton as Chairman of its Midwest business and a member of its firm-wide Executive Committee. In this role, Tilton will be the firm's Senior Executive across its businesses and functions in the region - focusing on building and strengthening the firm's business and brand in the Midwest United States.
Most recently, Tilton served as Chairman and Chief Executive Officer of UAL Corporation and United Airlines, where he led the company through a $23 billion restructuring, returned the company to profitability, and successfully completed the merger between United and Continental Airlines last year. Previously, Tilton spent 32 years with Texaco, gaining extensive experience in international and U.S. markets in the energy sector, completing the merger with Chevron in 2001.
Jamie Dimon, Chairman and CEO of JPMorgan Chase, said: "The Midwest is an important and growing region for our company, and Glenn Tilton is an exceptionally accomplished executive who is uniquely suited to oversee our efforts there."
Jes Staley, CEO of the company's Investment Bank, added, "We're very fortunate to have attracted someone with Glenn's intellect and experience in complex global businesses, who also has deep relationships and strong ties to the Midwest region. Glenn led the largest private sector employer in Chicago, where his role will be based, and he has developed strong relationships with the local business community and government officials, building on his substantial reputation in Washington and the international business community."
"At a most important time for our economy, I am very pleased to be joining JPMorgan Chase -- a well respected global company with a strong franchise and solid position in the Midwest -- and to be assisting their efforts to strengthen business development in Chicago and the region. Chicago is a city that understands competition and the relationship between business and the public sector that is mutually beneficial," Tilton said.
Among his other responsibilities, Tilton will help recruit top talent in the region, oversee the firm's charitable contribution budget there, coordinate regional government and public affairs initiatives, and maintain important relationships with elected officials.
Prior to joining United, Tilton was Vice Chairman of the Board of Directors of ChevronTexaco, as well as interim Chairman of Dynegy. Previously, he served as Chairman of the Board and CEO of Texaco, Inc.
Tilton currently serves as non-executive Chairman of the Board of Directors of United Continental Holdings Inc., and as a director on the boards of Abbott Laboratories, Corning Incorporated and Northwestern Memorial Hospital. Last year he was named by President Obama to the President's Export Council.
In addition, he was named by the Secretary of Transportation to the Future of Aviation Advisory Committee, and by then-Mayor Richard Daley to Chicago's O'Hare Express Blue Ribbon Committee. He was appointed as national chairman of the American Cancer Society's "CEO's Against Cancer" earlier this year and also serves on a number of non-profit boards, including the Field Museum, the Museum of Science and Industry, and the Economic Club of Chicago.
About JPMorgan Chase
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.