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Jamie Dimon Bids Steve Black Adieu

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To: JPMorgan Employees
Date: Wed, 3 Nov 2010 1:35
Subject: A Message From Jamie Dimon

Steve Black has let me know that he would like to leave the firm early next year. I have known Steve for 30 years, and he is one of the finest and most capable executives I have ever met. Throughout our working relationship, he has always impressed me with his tremendous dedication to the firm, his candor and his strong character. He has done an outstanding job during his remarkable career at the firm.

We are very grateful to Steve for all that he has done for this company. He has helped build the world-class Investment Bank we have today. He became co-CEO of the Investment Bank in 2004, and under his leadership, J.P. Morgan rose to the top of all major global league tables, won every major industry award and doubled its revenue. He steered that business through the most challenging financial crisis of our careers and helped it emerge even stronger. I have deep respect and admiration for Steve's partnership and have learned much from him through the years.

The best part of Steve's legacy are the many talented people at the company he hired, developed or inspired.

Please join me in thanking Steve and wishing him the best in all of his future endeavors.

Message sent to all employees with e-mail addresses.