JPMorgan Chase & Co – History and Profile

JPMorgan Chase & Co. is a multinational financial services holding company and investment bank based in New York City . It was created in 2000 when Chase Manhattan Bank and JP Morgan & Co. merged .

With total assets of over US $ 2,600 billion, it is the largest bank in the United States and, according to Forbes, the world’s third-largest publicly-traded company. The Bank currently operates in over 100 countries. JPMorgan Chase & Co. was formed as a result of the merger of a total of about a hundred financial institutions. The oldest predecessor, The Bank of Manhattan Company, was founded by Aaron Burr in 1799 and is the second oldest bank in the United States.

NameJPMorgan Chase & Co.
officecenterNew York City, New York, United States of America
Operation areaWorldwide
Established1 December 2000
ProductAsset management , banking , commodities , credit cards , equity trading , insurance , investment management , mortgage , mutual funds , private equity , risk management , wealth management
IncomeUS$ 115.627 billion (2019)
Operating profitUS$44,545 billion (2019)
Net profitUS$36,431 billion (2019)
AUMUS$2.988 trillion
Total assetsUS$2.687 trillion (2019)
Total equityUS$261.330 billion (2019)
Employees256,981 (Q4 2019)
DivisionAsset and Wealth Management, Retail and Community Bank, Commercial Bank, Corporate and Investment Bank
Sonof businessChase BankJ.P. Morgan & Co.One Equity Partners
Capital ratio15.8% (2019)
Websitewww .jpmorganchase .com
Stock symbolNYSE : JPMDJIA ComponentsS&P 100 componentsS&P 500 . components
ISINUS46625H1005
IndustryFinancial services
PredecessorChemical BankJ.P. Morgan & Co.The Manhattan CompanyChase National Bank
Founding fatherWalter V. ShipleyBalthazar P. Melick(Chemical Bank)John Pierpont Morgan(JP Morgan & Co.)Aaron Burr(The Manhattan Company)John Thompson(Chase National Bank)

As of 2020, JPMorgan Chase’s asset management business managed US$3.37 trillion in assets, while its investment banking and corporate businesses managed US$31 trillion in assets. With US$45.0 billion in assets under management, JPMorgan Chase’s global investment management unit is the third-largest global investment manager in the world. 

History

Chase Manhattan Bank 

In 1877, John Thompson, a New York publisher and banker, founded Chase National Bank, named after Salmon Portland Chase . The bank grew rapidly and by 1930 had become the largest in the world with assets of $ 2.7 billion. In 1955 it merged with The Bank of The Manhattan Co. to form The Chase Manhattan Bank .Chase Manhattan one of the largest and well-known banking groups in the USA with a leading position in the areas of “Syndicated Lending” and “Treasury”

JP Morgan & Company

JP Morgan & Co. was founded in 1871 by John Pierpont Morgan and Philadelphia banker Anthony Drexel . Initially, their partnership was called Drexel, Morgan & Co and served as an agent for Europeans who wanted to invest in the United States . 

JP Morgan & Co financed major industrial mergers such as the formation of General Electric (1892), US Steel (1901), International Harvester . In 1902, the JP Morgan & Co financed the creation of the International Mercantile Marine Company), which united several American and British transatlantic lines; the company was on the verge of bankruptcy after the Titanic sank in 1912 . In 1904, JPMorgan & Co. participated in financing the construction of the Panama Canal , raising $ 40 million for the US government .

JPMorgan took over Bank One , the sixth largest banking group in the United States , in 2004 . The purchase price was $ 58 billion

JPMorgan was acquired by Chase Manhattan Bank in 2001 and both companies merged on November 10, 2001 to form JP Morgan Chase & Co. The merger was announced in September 2000 after Chase had submitted a bid for 36 billion US dollars

Question Answer 
what is jpmorgan chase & coJPMorgan Chase & Co. is a investment bank based in New York City
is chase owned by JPMorganThe company was originally known as Chemical Bank, which later acquired Chase Manhattan and decided to use the name. JPMorgan Chase was formed in 2000, when Chase Manhattan Corporation merged with JP Morgan & Co.
is jp morgan the same as chase bankYeah JPMorgan is now the same as chase bank 
is jp morgan chase a commercial bankJPMorgan Chase & Co. is an investment bank  but separately Chase Bank is a commercial bank. 
is jp morgan chase a corporationYeah p morgan chase is  a corporation
who are jp morgan chase competitorsNo jp morgan chase are not competitors – they are the same company 
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