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7/13/2010  Treasury  Office of the Secretary  Troubled Asset Relief Program  Director    Washington, D.C. 

July 13, 2010: Former U.S. Sen. Mel Martinez has been hired by JPMorgan Chase and Company to manage the company's operations in Florida, Mexico, Central America and the Caribbean, according To The South Florida Business Journal. Martinez, Republican, was elected to the U.S. Senate in 2004. He subsequently decided not to run for re-election and resigned from office in 2009. Martinez, a lawyer, was also previously the Secretary of the U.S. Housing and Urban Development Department and the Mayor of Orange County. In the U.S. Senate, he was on the Banking Committee. Martinez plans to leave the Orlando office of law firm DLA Piper, and he will continue working in Orlando for JPMorga. JPMorgan, which acquired the assets of the failed Washington Mutual in 2008, ranked fifth in South Florida, with 129 branches and $7.6 billion in deposits on June 30, 2010, according to Federal Deposit Insurance Corporation (FDIC) data. In all of Florida, JPMorgan ranked sixth, with 243 branches and $10.8 billion in deposits. The company plans to add at least 20 branches a year in Florida, where it has about 14,000 employees.

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