JPMorgan Chase
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| Type | Public company |
|---|---|
| ISIN | US46625H1005 |
| Industry | Financial services |
| Predecessors | The Bank of the Manhattan Company (since 1799) Chemical Bank (since 1824) J.P. Morgan & Co. (since 1871) Chase National Bank (since 1877) |
| Founded | December 1, 2000 |
| Founders | Aaron Burr (The Bank of the Manhattan Company) Balthazar P. Melick (Chemical Bank) John Pierpont Morgan (J.P. Morgan & Co.) John Thompson (Chase National Bank) |
| Headquarters | 383 Madison Avenue New York City, U.S. |
Area served | Worldwide |
Key people | Jamie Dimon (Chairman & CEO) Daniel E. Pinto (President & COO) |
| Products | |
| Revenue | |
| AUM | |
| Total assets | |
| Total equity | |
Number of employees |  293,723[1] (2022) |
| Divisions |
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| Subsidiaries | |
| Capital ratio | Tier 1 15.2% (2022)[1] |
| Website | www.jpmorganchase.com |
| Footnotes / references [2][3] | |
JPMorgan Chase & Co. is an American multinational financial services company headquartered in New York City and incorporated in Delaware. It is the largest bank in the United States and the world's largest bank by market capitalization (as of 2023).[4][5] As the largest of the Big Four banks, the firm is considered systemically important by the Financial Stability Board. Its size and scale has led to enhanced regulatory oversight as well as the maintenance of an internal "Fortress Balance Sheet"[6][7] and liquidity reserves. The firm is headquartered on 383 Madison Avenue in Midtown Manhattan and is set to move into the under-construction JPMorgan Chase Building in 2025.
The firm's early history can be traced to 1799, with the founding of Chase Manhattan Company. In 1871, J.P. Morgan & Co. was founded by J. P. Morgan who launched the House of Morgan on 23 Wall Street as a national purveyor of commercial, investment, and private banking services. The present company was formed as the two predecessor firms merged in 2000, creating a diversified holding entity. It is a major provider of investment banking services in the Bulge Bracket, through corporate advisory, mergers and acquisitions, sales and trading, and public offerings. Their private banking franchise and asset management division are among the world's largest in terms of total assets. Its retail banking and credit card offerings are provided via the Chase brand in the U.S. and United Kingdom.
With US$3.67 trillion in total assets,[1] JPMorgan Chase is the fifth-largest banking institution in the world. The firm operates the largest investment bank in the world by revenue.[8][9] It occupies 24th place on the Fortune 500 list of the largest U.S. corporations by revenue. It produces institutional research on financial markets, economics, geopolitics, and personal finance across its business lines. The company's balance sheet, geographic footprint, and thought leadership have yielded a substantial market share in banking and a high level of brand loyalty. Alternatively, it receives routine criticism for its risk management, broad financing activities, and large-scale legal settlements.
History[edit]
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.[11]
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