tenniswire.org NEWSMAKER LOGIN
become a newsmaker
Email This Page
SITEWIDE SEARCH
FREE NEWSLETTER!
Get the inside scoop!

View Archive | Privacy Policy

Category: Associations & Organizations

09/03/08 - Texas’ Trace Fielding and Pennsylvania’s Shareen Lai Win Singles Titles at the USPTA Grass Court Champs Read more >>

09/02/08 - Tennis Europe and Polar Bring Technical and Training Solutions to Europe’s Coaches and Players Read more >>

09/01/08 - US Open Sets First Week Attendance Records as Bigger and Younger Crowds Fill Stadium to Capacity Read more >>

Company: TENNISWIRE.org

09/01/08 - TennisPuzzles.com Launches U.S. Open-themed Crossword, Wordoku and Word Search Read more >>

06/20/08 - Wimbledon-themed Crossword, Wordoku and Wordsearch Launched on TennisPuzzles.com Read more >>

06/03/08 - TennisPuzzles.com Launches with French Open-themed Crossword, Wordoku and Word Search Games Read more >>
Category: Associations & Organizations - Company: TENNISWIRE.org
Five Questions With...Barbara Paddock

Senior V.P., JPMorgan Chase

FOR IMMEDIATE RELEASE
Contact: Liza Horan
330 Third Ave.
New York,
212-682-6829
liza@tenniswire.org

09/09/08 - "Five Questions With..." is a series featuring exclusive interviews with important industry people. You will learn something with each edition.

Paddock is Senior Vice President at JPMorgan Chase, managing corporate sponsorships and strategic and philanthropic activities. The institution has been involved in pro tennis for 27 years, first as a sponsor of the U.S. Open, then title sponsor of the season-ending WTA Championships in New York City, and then worldwide sponsor of the WTA Tour. Paddock has managed the tennis business since 1996, when Chase merged with Chemical and became the sponsor of the U.S. Open Women’s Singles Championship, for which the 2008 prize money is $1.5 million.

Q. Why is JPMorgan Chase a sponsor of the U.S. Open?

A. We are headquartered in New York. We're an international corporation. The U.S. Open is the most prominent tennis tournament in the country, but attracts a broad international range. It's perfect for our consumer and our wholesale interests. It transcends all of our businesses. It's part of the fabric of the bank.

The U.S. Open really the only internationally renowned sport in the area annually. Others are the Belmont Stakes and the NYC Marathon. The U.S. Open marks the official end of summer and the end of the (Grand Slam) tennis season. It tracks the best players and is second behind Wimbledon as the most highly regarded tournament.

Q. Certainly the U.S. Open presents an excellent branding and entertainment opportunity for you. How do you leverage your role?

A. We entertain 6,000 clients worldwide during the two-week period. For the past three years our consumer group has run a very successful promotion (sending a text message to win tickets). It has been wildly successful in terms of deposits and new business checking accounts. And people are signing up for HELOCs on site at the tournament.

It might sound strange that people are opening bank accounts at a tennis tournament, but the U.S. Open is more than just tennis. It's more of an experience--there are sponsors selling, there are restaurants and a food court. There's more than just sitting in the stands.

Q. You've tied philanthropy into your corporate sponsorship by supporting CityPark Foundation's free tennis programming in New York City. How is that working for you?

A. We love being involved and bringing the opportunity to play tennis to 8,000 kids in the summer.

Q. Are you a tennis fan?

A. I'm a fan of the process of the marketing of the event more than being a fan sitting in the stands--we don't want to lose the focus of our investment because we want to manage it from a strategic marketing position. In the case of the Corporate Challenge, we own the event, we don't run in it--we're standing back. We work on making this an effective and efficient event to leverage our involvement and get the full bang out of it.

Q. In tough economic times, marketing programs can be the first programs to get cut from a budget. How have the various institutions that have become JPMorgan Chase—Manufacturers Hanover, Chemical Bank, JPMorgan, and Chase—managed tennis involvement for 27 years?

A. Everyone is tightening the belt and figuring out what's really important to keep as an investment. We've narrowed our involvements to be more efficient and effective. Our only focus in corporate sponsorships is on the U.S. Open and The Corporate Challenge Series (running).

Sports have become part of the fabric of American life. Sports are big business, representing about 18 percent of the gross national product. Along the way, there were different times and different strategies, yet tennis always worked.

VIEW PREVIOUS EDITIONS OF "Five Questions With..."