From: Staley, Jes Sent: Sunday, July 15, 2012 2:03 PM To: jeevacation®qmail.com' Here is the current idea. Note Begins Dear Coll=agues, A member of our Operating Committee for nearly 15 yea=s, Jes Staley has long been a champion of two areas critical to our f=ture: technology and regulation. Jes has frequently exp=essed to me his desire, at an appropriate point in his career, to be fre=d up from day to day management to engage more fully with and sponsor se=ect independent companies and entrepreneurs with new ideas and the =otential to help JP Morgan Chase and its customers. As man= of you know, Jes plays a central role in our relationships with regulat=ry agencies, politicians and their key constituencies around the globe-dia=ogues that will only increase in importance as the new global financia= paradigm takes shape. After three years at the helm of th= Investment bank and International, the businesses Jes manages have never =een stronger, with great momentum and a deep bench. The =onditions are right to transition management of the IB to the next generat=on and take full advantage of Jes's apptitude and desire to be of servic= to the firm and our industry in the fast changing dimensions of regulatio= and technology. [explain formally managers/reorgani=ation if necessary] During the second half of 2012, Jes will=work with Mike and Daniel to ensure a seamless transfer of responsabili=ies. Thereafter, Jes will form and chair a Regulation and =echnology Council that will seek out and sponsor opportunities in tech=ology and regulation that address the evolving needs of global finance.=0D To form this committee, Jes will draw on resources with=n the firm as well as academics, public figures, and leaders from the =renas of technology and finance. [One more sentance descri=ing might be nice] Jes will continue to help me and the firm=with select client relationships and important ongoing strategic initiativ=s. Jes will maintain his seat on th