JPMorgan Chase & Co.
Jun 14, 2010

JPMorgan Chase Hires Jack Stephenson To Expand Mobile And Internet Payments Services

NEW YORK, June 14, 2010 - JPMorgan Chase today announced it has hired payments industry veteran Jack Stephenson as Director of Mobile, E-Commerce and Payments to expand how the firm serves clients from consumers to businesses.

Stephenson, who has been the Senior Vice President of Strategy, Partnerships, Analytics and New Ventures at PayPal, will lead the continuing evolution and implementation of a company-wide strategy for mobile devices and internet payments.

"We know how important technology has become in serving our customers well, and Jack has the experience, expertise and vision to help us do even more for them," said Jay Mandelbaum, the firm's head of Strategy and Development. "He will focus primarily on developing new products and services for consumers, merchants and small businesses."

Chase serves 28 million consumers online and nearly 3.3 million mobile banking customers - a number that grows by more than 600,000 each month.

"We will build on JPMorgan Chase's tremendous strengths across cards, merchant services, consumer and business banking, and commercial payments," said Stephenson. "Rapid changes in mobile, internet, and information technology create opportunities to leverage these assets in new and exciting ways for customers."

Chase is a leader in providing innovative payments and banking services - and even in its charitable giving:

Stephenson has more than 25 years of experience in financial services, payments and e-commerce and was previously a Director of McKinsey & Company, where he served leading banks, processors, networks, telecom operators and technology companies around the world.

JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 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.