JPMorgan announces strengthening of ADR Americas Senior Management.

Business Editors

NEW YORK--(BUSINESS WIRE)--April 18, 2001

JPMorgan announced the strengthening of its ADR Americas senior management with the hiring of Christian Starck, as vice president and head of ADR North America, and Claudine Cardillo, as vice president and head of ADR Latin America.

"The strengthening of our ADR senior management team is in line with our objective to position the group for its next stage of growth in the Americas in the wake of the merger between JPMorgan and Chase," said Patrick Colle, senior vice president and global head of JPMorgan's ADR Group. "Christian and Claudine bring to the bank a depth of expertise and leadership skills to enable us to further expand our ADR market pre-eminence." Mr. Starck and Ms. Cardillo are based in New York.

Christian Starck manages the ADR Group's North American operations and is responsible for global ADR support and administration, product development and Internet initiatives, transaction management, broker marketing, and U.S.-based client relationship management. The appointment is a new position for the bank. Mr.Starck joins JPMorgan from Citibank where he headed ADR product management and served as deputy global ADR head from 1999 to 2001. Prior to Citibank, Mr. Starck was a management consultant and engagement manager at McKinsey & Co. in New York from 1993 to 1996. At the Central Bank of Finland from 1985 to 1992, Mr. Starck served as vice president and economist. A graduate of the School of Economics and Business Administration in Helsinki, Finland, Mr. Starck holds a Ph.D. in Economics and an M.A. in Finance. He also completed Ph.D. coursework as a Fulbright scholar at the University of Chicago's economics department.

Claudine Cardillo directs the ADR Group's Latin America sales, marketing and relationship management activities. Ms. Cardillo has a long-standing background in global securities services sales and operations with both BNP Paribas and JPMorgan. From 1995 to 2001, she headed BNP Paribas' clearing and custody sales teams in Paris, and founded and directed the firm's Brussels operations. Previously, at JPMorgan from 1989 to 1995, Ms. Cardillo, as vice president, held various management positions with the bank's securities, trust, and investor services group. Ms. Cardillo is a graduate of the University of Massachusetts with B.S. degrees in both Finance and Literature.

JPMorgan's ADR Group leads the industry with 40 percent, or $124 billion in ADR market capitalization under administration, as of December 2000. ADRs, or American Depositary Receipts, are negotiable securities traded or listed in the U.S. that represent underlying equity securities of non-U.S. companies.

J.P. Morgan Chase & Co. is a premier global financial services firm with assets of $715 billion and operations in over 60 countries. The firm is a leader in investment banking, asset management, private equity, consumer banking, private banking, e-finance, and custody and transaction servicing. Headquartered in New York, JPMorgan Chase serves 32 million consumer customers and over 5,000 corporate, institutional, and government clients. The firm trades on the New York Stock Exchange under the symbol "JPM" and is one of the 30 stocks that makes up the Dow Jones Industrial Average. For more information, visit jpmorganchase.com and JPMorgan's adr.com, the central source for information on ADRs and international equities.

adrWISE.com, JPMorgan's proprietary, password-protected, ADR issuer web site, provides ADR issuers with a full suite of real-time applications to manage, benchmark and expand their ADR shareholder base.