February 28, 2011
After nearly 36 years with J.P. Morgan, I've decided to reduce my hours and my travel. I am staying with the firm, and will be maintaining my focus on the economy, markets, and investment strategy, and continuing to contribute to our investment process. But I'll be focusing my client activities on our Private Banking activities, particularly in Florida, where my wife and I will reside for at least half of the year.
I've always said that clients make me better, and I want to express special thanks for your interest in my views over many years. Rest assured that you will remain in strong hands. My colleagues David Kelly and Ehiwario Efeyini will pick up where I leave off on my voice mails and written messages, and I'm confident they'll do a great job helping you navigate the challenges that will come our way. We expect to add additional resources as well.
While the faces and the voices may change from time to time, our firm's culture of fiduciary responsibility, investment expertise and client service is and will remain a constant.
Thanks again for your interest over the years. I wish you all the best both professionally and personally
With best regards,