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Bold Leader Spotlight: Kristin Lemkau, Chief Marketing Officer JPMorgan Chase

When Kristin Lemkau speaks, the business world listens. As JPMorgan Chase’s Chief Marketing Officer, Lemkau is responsible for guiding the organization’s brand and voice. It is a tremendous leadership position, especially in an age when a company’s image wields as much power as its actions. But it’s a fitting position for someone capable of tempering keen storytelling with a knack for empowerment and challenging the status quo. With a degree in creative writing from Vanderbilt University and a history of taking risks that bucked trends, Lemkau has accomplished a lot. For that, she has earned this week’s Bold Leader Spotlight.

As a bold leader, Kristin Lemkau has worked to help JPMorgan Chase make the world a better place.
The bold leadership of Kristin Lemkau has including some risk-taking – but it’s paid off.

Taking Risks and Seizing the Opportunity

Lemkau joined JPMorgan Chase in 1998, and in 2010, she was named Chief Communications Officer. Then, in 2014, she was advanced to Chief Marketing Officer, where she has continued to advance her leadership talents. Each step of the way, Lemkau has challenged the status quo and taken risks. With a value-focused mission, she has been able to overcome barriers that others may see as impossible to overcome.

As an example, Lemkau drastically cut back on the number of advertisers JPMorgan Chase used. In essence, the number of advertisers decreased from 400,000 to 5,000. Such a decision could have been fatal for her career. But instead, the bold risk resulted in tremendous cost savings for JPMorgan Chase with no change in visibility. Ultimately, the move led JPMorgan Chase to launch its own internal marketing agency.

One of the traits of bold leadership is risk-taking.
Kristin Lemkau has taken risks in her role as Chief Marketing Officer, but the payoffs have been worth it.

A Chief Marketing Officer with Visionary Leadership

According to Lemkau, both the financial and marketing industries are undergoing remarkable disruption. Digital transformation is forcing dynamic change, and as she describes, chief marketing officers must embrace that change and seek to focus on new innovative ways to market their brands. For Lemkau, that means developing new ways to reach customers. And it also means using marketing data analytics for new product design. Those chief marketing officers who fail to invest in these areas are likely to be left behind.

This visionary perspective has led Lemkau to pursue some innovative strategies as a result. JPMorgan Chase now has a media campaign that highlights sports figures talking about money matters. The marketing campaign naturally reaches consumers with financial products, but simultaneously, it serves to help and educate people. This type of approach, and using marketing data to create customer value, are key components of marketing leadership today.

Want to be a bold leader? Then help others succeed.
Kristin Lemkau’s bold leadership has shined through in her mentorship of others.

A Belief in Mentorship and Promoting Positive Change

When asked what type of people she considers when hiring, Lemkau notes that individuals who are self-learners, curious and determined grab her attention. But at the same time, she greatly values mentorship and role modeling. And she readily acknowledges the importance that key mentors have served in her own success.

cartoon caricature of Kristin Lemkau, Chief Marketing Officer JPMorgan Chase, posing as the bold leader spotlight of the week
Indeed, Kristin Lemkau, the chief marketing officer of JPMorgan Chase, is well-recognized for her bold vision and transformational leadership!

The ability of marketing efforts to promote positive change in the world is something in which Lemkau believes strongly. Being able to tell the truth through marketing stories can bridge gaps and create collective forces for change. Lemkau notes that this is happening for women today, especially among those in business. As she describes, a sisterhood is evolving that is advancing needed reforms through collaboration. This highlights her team-valued approach to change.

Bold Leadership in Action

Lemkau is a steward of JPMorgan Chase’s $5 billion marketing budget. And she has repeatedly demonstrated strong marketing results that drive revenue for the company. But this is not the only reason why she has been named among the most 50 most daring entrepreneurs by Entrepreneur Magazine. She demonstrates the qualities of a truly bold leader. Her passion and values have fueled her successes and continue to make a tremendous impact on others around her.

To learn more about JPMorgan Chase, read how they are advancing cities.

Comparing Med Tech to Biopharma Infographics

infographic comparing medical technology and biopharma companies

Medical Technology Industry Companies Are Hot, But the Biopharmaceutical Industry Still Rules

It turns out that 2018 was a big year for the biomedical sector. Both medical technology companies and biopharmaceutical companies made tremendous year-over-year advances in funding. However, medical technology industry companies actually outperformed biopharmaceutical industry based on percent growth. And specific areas of the medical technology industry are really accelerating in the financing arena. From medical devices to diagnostics, medical technology industry companies seem to have investor attention. But will they overtake biopharmaceutical industry in total funding dollars?

infographic comparing medical technology and biopharma companies

infographic comparing medical technology and biopharma companies

Medical Technology Companies —By the Numbers

From venture capital to private investments and IPOs, medical technology industry companies have many ways to raise capital. And for 2018, all these options were utilized. In total, medical technology industry companies acquired $20.5 billion in financing from nearly 500 total transactions. This number reflected an incredible 38 percent increase in funding obtained in the previous year.

At the same time, biopharmaceutical industry companies also performed well. In fact, biopharmaceutical industry companies more than tripled the financing of medical technology industry companies in 2018. But in terms of growth, biopharmaceutical industry companies experienced less than a 30 percent growth rate compared to 2017 figures. This fact has some analysts reevaluating investor patterns and what it may mean in the near future.

The Big Winners Among Medical Technology Industry Companies

While nearly all types of companies within the medical technology industry sector saw significant growth, advances in some categories were more substantial. Specifically, medical technology industry companies developing devices saw financing growth of 40 percent. A total of 260 medical device companies accounted for $13 billion, or 63 percent, of the total funding. Interestingly, the lion’s share of these companies were based in California, where venture capital funding is more accessible.

Though the second-place category among medical technology industry companies is distanced from medical devices, it is still noteworthy. Diagnostic companies were responsible for 18 percent of all financing dollars for medical technology companies in 2018. And specific specialties also represented sources of significant funding investments. In fact, orthopedics and oncology funding for medical technology industry companies received a third of the overall funds combined. This case has notable implications for future developments in medical technology industry innovation.

Notable Financing Events Among Medical Technology Companies in 2018

Out of the nearly 500 funding transactions involving medical technology companies, some of the more major ones deserve some recognition. Hologic Inc., involved in diagnostics for women, acquired over $1 billion in financing notes this year. Likewise, Grail Inc., which develops oncology diagnostics, completed $300 million in Series C funding. And multiple IPOs occurred in the U.S. and abroad resulting in sizable funding results. The growth impact regarding funding of medical technology companies is clearly a global phenomenon and not a regional one.

The biopharmaceutical industry remains a growth industry.
Which medical technology companies and biopharma companies will see growth in 2019? That’s a good question…

Not included in the figures of medical technology company financing are the IPO funds involving Siemens Healthineers in Germany. This IPO resulted in $5.2 billion of funding revenues raised. While its inclusion would have skewed the figures, it further highlights the growing trends favoring medical technology companies. These same trends are expected to continue into 2019 according to several analysts.

Are Investors Concerned About Biopharmaceutical Industry Companies?

With greater investments for medical technology companies, it is reasonable to question if biopharmaceutical companies are losing their investment appeal. Biopharmaceutical industry companies certainly face greater regulatory pressures by comparison. Likewise, biopharmaceutical industry companies have more extensive R&D processes and failures. And pricing policies and product competitions remain up in the air in many markets. These factors may be playing a role in persuading investors to preferentially choose medical technology industry companies at present.

While these are legitimate factors in analyzing biopharmaceutical industry companies, this sector remains dominant when it comes to financing. Also, biopharmaceutical industry companies are still enjoying sizable growth in funding with numerous mergers and acquisitions this year. With precision medicine, stem cell research and other biomedical advances, biopharmaceutical industry companies should continue to receive strong funding support.

Both the medical technology industry and the biopharmaceutical industry should have ample capital opportunities in 2019.
Raising capital shouldn’t be much of a problem in the biopharmaceutical industry in 2019 – provided the company’s end product merits the funding.

Looking Ahead in 2019

Overall, both medical technology industry companies and biopharmaceutical industry companies are expected to continue to advance in funding in the near term. Likewise, mergers and acquisitions, which have been frequent lately, are also likely to continue into 2019. Both scientific and technological developments will continue to drive both these sectors forward aggressively. But as evidenced by 2018, biopharmaceutical industry companies will likely continue to receive greater funding despite recent medical technology industry sector surges.