J.P. Morgan Hires #1 Ranked Equity Research Analyst

May 23, 2011

Tokyo – JPMorgan Securities Japan Ltd. (“J.P. Morgan”) has strengthened its equity research capabilities with the appointment of Ritsuko Tsunoda as Senior Analyst & Managing Director covering the food & beverage and consumer staples sector.

Ms. Tsunoda has 10 years of experience in the sector and was recently recognized as the Number 1 Beverages, Food & Tobacco sector analyst in the 2011 Institutional Investor Japan survey. Prior to joining J.P. Morgan, she spent 11 years with Bank of America Merrill Lynch Securities Co., Ltd., where she became the first female Managing Director in Tokyo Research.

Jesper Koll, Head of the Japanese Equity Research, commented: “We are delighted to welcome Ritsuko to our team. She has been highly recognized in her strong broker review results, and her appointment should significantly enhance our fundamental equity research capabilities in Japan. The appointment is further evidence of our ongoing commitment to strengthen J.P. Morgan's research franchise and integrate Japanese company coverage into the firm's global research platform.”

Christopher Harvey, President & CEO of JPMorgan Securities Japan Co., Ltd., said “Ritsuko’s appointment shows our continuing commitment to offer the best to our clients in Japan and around the globe.”

Ms. Tsunoda will join J.P. Morgan on July 21 and report to Jesper Koll.

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