Ratification of PwC as Auditor
MANAGEMENT PROPOSALS
For additional detail, see 2015
Proxy Statement pages 30-68
Proposal #2: Advisory resolution to approve executive compensation¹ (cont'd)
The Board of Directors recommends you vote FOR this proposal
Why should shareholders approve our Say on Pay?
1. Solid 2014
business
performance
continued to
support sustained
shareholder value
2. Pay and
performance are
determined using
a well-governed,
disciplined and
holistic
framework
3. Pay is
commensurate
with overall
business and
individual
performance
4. Pay practices
are aligned with
the interests of
shareholders
5. Pay and
performance are
tied to extensive
risk and control
features
TBVPS
$22.52
$1.35
2008
EPS
$27.09
EPS and TBVPS over time
$2.26
2009
$5.6B
$1M
2008
TBVPS CAGR: 12%
EPS CAGR: 26%
$30.18
$11.7B
$3.96
Net Income Relative to CEO Pay
Net Income ($ in billions)
$15.2M
2009
0.09%
JPMorgan Chase & Co.
2010
$17.4B
1 See notes on non-GAAP financial measures on page 12
2 Total shareholder return ("TSR") assumes reinvestment of dividends
3 See note 2 on page 12
$23M
$33.69
$4.48
2010
2011
$19.0B
0.10%
$23M
CEO Comp ($ in millions)
$38.75
2011
$5.20
Wells Fargo
2012
$21.3B
$40.81
$11.5M
CIO
EVENT
2012
$4.35
2013
$17.9B
$20M
$44.69
2013
0.13%
Citigroup
5
$5.29
$20M
2014
$21.8B
2014
$180
$160
$140
$120
$100
CEO pay versus business performance
0.19%
$80
$60
$40
JPM
$100
2007
Bank of America
Total shareholder return²
S&P Financial Index
6%
2008
10%
2009
$15.2M
Return on Tangible Common Equity (ROTCE) Relative to CEO Pay
ROTCE CEO Comp ($ in millions)
% of Profits Paid to CEOs - Three Year Average (2011-2013)³
(Financial Services Peer Group)
0.37%
KBW Bank Index
$1M
2008
2009
2011
2013
* Despite record net income in 2012, the Board significantly reduced Mr. Dimon's pay in response to CIO trading losses.
JPMorgan Chase generated more net income per dollar of CEO compensation than peers
15%
Goldman Sachs
$23M
2010
2010
15%
2011
$23M
15%
$11.5M
CIO
EVENT
2012
0.48%
2012
American Express
11%
2013
$20M
13%
$20M
2014
0.54%
Morgan Stanley
JPMORGAN CHASE & Co.
$168
$98
2014View entire presentation