TOP 100 COMPANIES
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JPMorgan Chase & Co.
Founded in 1871
CEO: Jamie Dimon
www htps com:/ jpmorganchase. /. www htps company jpmorganchase:/ linkedin. /
For over 200 years, JPMorgan Chase & Co has provided financial solutions for consumers, small businesses, corporations, governments and institutions.
Its history is one of mergers and acquisitions rooted in the very fabric of the United States. The group dates back to 1799, when the New York State legislature chartered The Manhattan Company to supply the city with drinking water. A provision in the company’ s charter allowed it to use surplus capital for banking operations, and The Bank of the Manhattan Company was founded. It put founder Aaron Burr at loggerheads with his longstanding political foe Alexander Hamilton, who, until that point, had enjoyed a monopoly over New York’ s banking scene with his bank being the only other in the city.
Over the next 70 years or so, various other predecessors to the modern-day business began to emerge – including The New York Manufacturing Company, the Bank of Commerce, First National
Bank of Chicago, the Springfield Marine and Fire Insurance Company, early iterations of Bank One, and finally Chase Bank. Over in London, a banker called Junius Morgan was helping a private banking firm called George Peabody & Co to become a leader in American securities in Europe, paving the way for the Morgan lineage of the institution’ s history.
In the 50s and 60s, consolidation helped shape the organisation we know today, before J. P. Morgan merged with Chase Manhattan Bank in 2000. Nowadays, JPMorgan Chase & Co is a truly international financial services firm serving clients in over 100 different countries, with assets of US $ 3.2tn. In its most recent full-year accounts, it recorded total net revenue of US $ 128.69bn and net income of US $ 37.67bn. It is the largest corporate and investment bank in the world, employing hundreds of thousands of people globally. The business has been led since 2006 by Chairman and Chief Executive Officer Jamie Dimon, who was previously President of Citigroup following Citicorp’ s merger with Travelers.
Banking United States
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