Where is JPMorgan Chase Headquarters on Map?
J.P. Morgan Chase & Co. is a global financial service holding company which principally operates on general banking management and investment banking. It is the largest bank in the United States and is one of America’s Big Four banks, together with Citigroup, Wells Fargo and Bank of America. J.P. Morgan Chase & Co. has incurred a total asset of US$2.73 trillion, making it the sixth biggest and leading bank in the world. It is also the most valuable bank globally in terms of market capitalization.
|HQ:||New York City, New York, U.S|
|Traded as:||NYSE: JPM|
|Founded:||December 1, 2000|
|Founders:||John Pierpont Morgan (J.P. Morgan & Co.); John Thompson (Chase National Bank); Balthazar P. Melick (Chemical Bank); Aaron Burr (The Manhattan Company)|
|Products:||commodities, credit cards, equities trading, insurance, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management|
|Subsidiaries:||Chase Bank, J.P. Morgan & Co., One Equity Partners|
|Business data:||Google Finance / Yahoo! Finance / SEC filings|
What does J.P. Morgan Chase & Co. do?
The multinational financial company ventures into a wide range of investment and banking services. Its operation is divided into four segments: (1) Consumer and Community Banking (CCB), (2) Corporate and Investment Banking (CIB), (3) Commercial Banking (CB) and (4) Asset and Wealth Management (AWM).
Under CCB, J.P. Morgan Chase & Co. offers services to clients and businesses through ATMs, online, mobile and telephone banking, deposit, investment, credit card and home equity loans for individual clients. It also offers cash management and payment solutions for small to medium businesses.
The CIB division of the company deals with corporate strategy, investment banking, capital-raising services, risk management solutions and cash securities among others. For Commercial Banking, J.P. Morgan Chase & Co. caters to corporations, financial institutions, real estate investors, non-profit organizations and government municipalities and provides financial services such as asset management, lending and treasury services and investment banking.
Finally, the AWM segment focuses on multi-asset investment management services, as well as investment and wealth management for equities market fund asset classes.
J.P. Morgan Chase & Co. is a product of a formed alliance of over 1,200 predecessor large banks in the United States since 1996. These banks include J.P. Morgan Co., Chase Manhattan Bank, Bank One and Washington Mutual among others. The oldest predecessor bank belonging in this institution is the Bank of Manhattan Company which was founded in 1799 by Aaron Burr. Two major banks—Chase Manhattan Bank and J.P. Morgan & Co.—both played a major role in the success of the multinational financial institution.
Chase Manhattan Bank was first established in 1955, after the Bank of the Manhattan Company acquired Chase National Bank. It was led by David Rockefeller during the 1970s and 1980s, where the company rose to become one of the leading banking institutions offering major services in securities, retail financial services, credit cards, lending and treasury.
J.P. Morgan & Co., on the other hand, served as the most influential financial company in the late 1800s. It became the major services provider for financing and treasury for different private and public institutions, most notably the United States Steel Corporation and the United States government itself.
These two major banks finally merged in 2000.
Aaron Burr, who established the Bank of the Manhattan Company in 1799 and John Pierpont Morgan, then head of the banking firm J.P. Morgan & Co. in 1871 both founded what is now known as J.P. Morgan Chase & Co.
J.P. Morgan Chase & Co. is a major financial services provider for a wide range of banking management which focuses on investment banking, private and private wealth banking, asset management and treasury services. It is both a universal bank and custodian bank which anchors on its commitment to deliver a high standard of “integrity, fairness and responsibility,” coupled with a simple but dedicated mission to serve its clients and constituents around the world.
The global financial institution offers services which are organized into a corporate equity segment and four business divisions: consumer and community banking, corporate and investment bank, commercial banking and asset management.
It also owns five bank subsidiaries: JPMorgan Chase Bank, Chase Bank USA, Custodial Trust Company, JPMorgan Chase Bank and J.P. Morgan Bank and Trust Company.
J.P. Morgan Chase & Co. Products and Services
Consumer and Community Banking (CCB)
- Credit cards
- Small businesses
- Home loans and home equity line of credit
- Auto finance
- Retirement and investing
- Personal bank accounts
- Merchant services
Corporate and Investment Banking (CIB)
- Investment banking
- Prime brokerage
- Treasury and securities products
Commercial Banking (CB)
- Middle market banking
- Business credit
- Equipment finance
- Commercial term lending
- Community development banking
- Real estate banking
- International banking
Asset and Wealth Management (AWM)
- Institutional asset management
- Wealth management and brokerage
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