Chase Names David Lowman CEO of Global Mortgage.

NEW YORK -- Chase today appointed David Lowman Chief Executive Officer of the Global Mortgage business of JPMorgan Chase & Co. (NYSE: JPM) and a member of the Executive Committee.

Lowman, who has worked in lending and mortgage businesses for 25 years, has been president and CEO of CitiFinancial International since 2004. Under his leadership, the overseas consumer finance business has grown its origination volume significantly and increased its network to nearly 2,000 stores and 20,000 employees in 24 countries.

"Dave has earned a reputation as a strong manager, a smart businessman and a leader," said Charlie Scharf, CEO of Retail Financial Services. "He will add tremendous value immediately. He will help us continue on our path to build a great mortgage business, growing our volume and becoming more efficient. He also will help us leverage the great advantages of working with the Investment Bank.

"Knowing his broad background, we also have asked Dave to work with senior advisor Bob Lipp and me to develop and implement an international consumer finance strategy," Scharf said.

Chase originates $150 billion in mortgages and home equity annually, and services a portfolio of more than $500 billion in residential mortgages and home equity. The home mortgage division of Chase serves borrowers in 44 states through 2,000 local loan officers in 260 mortgage offices and 3,000 bank branches, as well as 275 representatives in call centers.

Lowman began his career as an auditor at KPMG Peat Marwick serving financial services firms. He then worked for 11 years at Prudential Home Mortgage, serving as CFO and in key roles in mortgage operations and wholesale lending, and on re-engineering and conversion initiatives.

He joined CitiMortgage as Managing Director of Servicing in 1996 and was promoted to President and COO in 1998. By the end of 2000, Citigroup's mortgage originations had increased dramtically and Lowman was named Chief Servicing and Technology Officer for the CitiGroup's U.S. Mortgage Business. There, he helped reduce operating costs, boost servicing revenue and integrate the origination and servicing operations and technology platforms of Associates First Capital.

About Chase

Chase is the U.S. consumer and commercial banking brand of JPMorgan Chase & Co. Chase has 136 million credit cards issued and serves consumers and small businesses through more than 3,000 bank branches, 8,300 ATMs and 260 mortgage offices as well as through relationships with 15,600 auto dealerships and 2,500 schools and universities. It also serves more than 25,000 commercial banking clients including corporations, municipalities, financial institutions and not-for-profit entities. More information about Chase is available at www.chase.com.