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JPMorgan Chase

JPMorgan Chase

American multinational banking and financial services holding company

OverviewStructured DataIssuesContributorsActivity

Contents

jpmorgan.com
jpmorganchase.com
Is a
Company
Company
Organization
Organization
Investor
Investor

Company attributes

Industry
Financial services
Financial services
0
Investment
Investment
0
Zero-knowledge proof
Zero-knowledge proof
Transaction processing
Transaction processing
Edge computing
Edge computing
‌
International Standard Industrial Classification
0
Digital currency
Digital currency
...
Location
Manhattan
Manhattan
383 Madison Avenue
383 Madison Avenue
New York City
New York City
270 Park Avenue
270 Park Avenue
United States
United States
New York
New York
B2X
B2B
B2B
CEO
Jamie Dimon
Jamie Dimon
Founder
J. P. Morgan
J. P. Morgan
‌
Aaron Burr
AngelList URL
angel.co/company/jp...organ-chase
Pitchbook URL
pitchbook.com/profiles.../55545-67
Legal Name
J.P. Morgan & Co. Banc One Corp.
Parent Organization
BlackRock
BlackRock
Subsidiary
‌
First Chicago Bank
Bear Stearns
Bear Stearns
Vornado Realty Trust
Vornado Realty Trust
Chase Bank
Chase Bank
0
‌
Chase Paymentech
Affinion Group (company)
Affinion Group (company)
Early Warning Services
Early Warning Services
J.P. Morgan & Co.
J.P. Morgan & Co.
...
Legal classification
Public company
Public company
Date Incorporated
December 1, 2000
Spinout
Panorama Capital
Panorama Capital
Number of Employees (Ranges)
10,001+
Number of Employees
256,100
Full Address
270 Park Avenue New York, NY 10017-2014, US0
CIK Number
19,617
Place of Incorporation
Delaware
Delaware
IRS Number
132,624,428
Founded Date
1799
0
Competitors
Raymond James
Raymond James
SunTrust Bank
SunTrust Bank
Kmart
Kmart
0
Stock Symbol
JPM
Exchange
New York Stock Exchange
New York Stock Exchange
London Stock Exchange
London Stock Exchange
Tokyo Stock Exchange
Tokyo Stock Exchange
Glassdoor ID
E5224839
NAICS Code
522,110
CAGE Code
7CUD1
Patents Assigned (Count)
105
Legal Entity Identifier
8I5DZWZKVSZI1NUHU7480
Wellfound ID
jpmorgan-chase
Country
United States
United States
Headquarters
New York City
New York City
0

Investor attributes

Invested in
Konfio
Konfio
WeWork China
WeWork China
AppDirect
AppDirect
Movius Interactive Corporation
Movius Interactive Corporation
Roostify
Roostify
Kensho
Kensho
Avant (financial service)
Avant (financial service)
Inpher
Inpher
...

Other attributes

Block Explorer URL
jpmorganchase.com
Blog
jpmorganchase.com/news-stories
Company Operating Status
Active
Strategic Partnerships
Touchpointgroup
Touchpointgroup
Indeed ID
jpmorgan-chase
Market Capitalization
307,295,000,000
Official Name
JPMorgan Chase & Co.
Owner of
BATS Global Markets
BATS Global Markets
Narayana Health
Narayana Health
‌
The Saudi Investment Bank
Partner Organizations
Paymentus Corp.
Paymentus Corp.
Public/Private
Public0
Short Name
n/a0
SIC Code
6,021
Ticker Symbol
JPM
Wikidata ID
Q192314

JPMorgan Chase & Co is a financial service provider providing global investment banking, asset management, treasury, and other services that is headquartered in New York City, New York and was founded in 1823. According to the firms website (as of November 2019), JPMorgan Chase & Co has approximately $2.6 trillion in assets, has presence in 100 markets, and more than 250,000 employees. The firm actively conducts research related to household spending & income, small business, healthcare, household debt, cities & local communities, financial markets, and labor markets.

History

JPMorgan Chase, in its current structure, is the result of the combination of several large U.S. banking companies since 1996, including Chase Manhattan Bank, J.P. Morgan & Co., Bank One, Bear Stearns and Washington Mutual. Going back further, its predecessors include major banking firms among which are Chemical Bank, Manufacturers Hanover, First Chicago Bank, National Bank of Detroit, Texas Commerce Bank, Providian Financial and Great Western Bank. The company's oldest predecessor institution, The Bank of the Manhattan Company, was the third oldest banking corporation in the United States, and the 31st oldest bank in the world, having been established on September 1, 1799, by Aaron Burr.

The Chase Manhattan Bank was formed upon the 1955 purchase of Chase National Bank (established in 1877) by The Bank of the Manhattan Company (established in 1799), the company's oldest predecessor institution. The Bank of the Manhattan Company was the creation of Aaron Burr, who transformed the company from a water carrier into a bank.

According to page 115 of An Empire of Wealth by John Steele Gordon, the origin of this strand of JPMorgan Chase's history runs as follows:

At the turn of the nineteenth century, obtaining a bank charter required an act of the state legislature. This of course injected a powerful element of politics into the process and invited what today would be called corruption but then was regarded as business as usual. Hamilton's political enemy—and eventual murderer—Aaron Burr was able to create a bank by sneaking a clause into a charter for a company, called The Manhattan Company, to provide clean water to New York City. The innocuous-looking clause allowed the company to invest surplus capital in any lawful enterprise. Within six months of the company's creation, and long before it had laid a single section of water pipe, the company opened a bank, the Bank of the Manhattan Company. Still in existence, it is today JPMorgan Chase, the largest bank in the United States.

Led by David Rockefeller during the 1970s and 1980s, Chase Manhattan emerged as one of the largest and most prestigious banking concerns, with leadership positions in syndicated lending, treasury and securities services, credit cards, mortgages, and retail financial services. Weakened by the real estate collapse in the early 1990s, it was acquired by Chemical Bank in 1996, retaining the Chase name. Before its merger with J.P. Morgan & Co., the new Chase expanded the investment and asset management groups through two acquisitions. In 1999, it acquired San Francisco-based Hambrecht & Quist for $1.35 billion. In April 2000, UK-based Robert Fleming & Co. was purchased by the new Chase Manhattan Bank for $7.7 billion.

J.P. Morgan & Company

The House of Morgan was born out of the partnership of Drexel, Morgan & Co., which in 1895 was renamed J.P. Morgan & Co. (see also: J. Pierpont Morgan).J.P. Morgan & Co. financed the formation of the United States Steel Corporation, which took over the business of Andrew Carnegie and others and was the world's first billion dollar corporation. In 1895, J.P. Morgan & Co. supplied the United States government with $62 million in gold to float a bond issue and restore the treasury surplus of $100 million. In 1892, the company began to finance the New York, New Haven and Hartford Railroad and led it through a series of acquisitions that made it the dominant railroad transporter in New England

Built in 1914, 23 Wall Street was the bank's headquarters for decades. On September 16, 1920, a terrorist bomb exploded in front of the bank, injuring 400 and killing 38. Shortly before the bomb went off, a warning note was placed in a mailbox at the corner of Cedar Street and Broadway. The case has never been solved, and was rendered inactive by the FBI in 1940.

In August 1914, Henry P. Davison, a Morgan partner, made a deal with the Bank of England to make J.P. Morgan & Co. the monopoly underwriter of war bonds for the UK and France. The Bank of England became a "fiscal agent" of J.P. Morgan & Co., and vice versa. The company also invested in the suppliers of war equipment to Britain and France. The company profited from the financing and purchasing activities of the two European governments. Since the U.S. federal government withdrew from world affairs under successive isolationist Republican administrations in the 1920s, J.P. Morgan & Co. continued playing a major role in global affairs since most European countries still owed war debts.

In the 1930s, J.P. Morgan & Co. and all integrated banking businesses in the United States were required by the provisions of the Glass–Steagall Act to separate their investment banking from their commercial banking operations. J.P. Morgan & Co. chose to operate as a commercial bank.

In 1935, after being barred from the securities business for over a year, the heads of J.P. Morgan spun off its investment-banking operations. Led by J.P. Morgan partners, Henry S. Morgan (son of Jack Morgan and grandson of J. Pierpont Morgan) and Harold Stanley, Morgan Stanley was founded on September 16, 1935, with $6.6 million of nonvoting preferred stock from J.P. Morgan partners.[better source needed] In order to bolster its position, in 1959, J.P. Morgan merged with the Guaranty Trust Company of New York to form the Morgan Guaranty Trust Company.The bank would continue to operate as Morgan Guaranty Trust until the 1980s, before migrating back to the use of the J.P. Morgan brand. In 1984, the group purchased the Purdue National Corporation of Lafayette, Indiana. In 1988, the company once again began operating exclusively as J.P. Morgan & Co.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

How JP Morgan Chase Became The Largest Bank In The US

https://youtu.be/6Rb2TsOm3Kw

Web

March 7, 2019

References

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