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    JPMorgan Chase

    JPMorgan Chase & Co. history, company profile (overview) and history video

       JPMorgan Chase & Co. is a multinational financial services company headquartered in New York, United States. It engages in investment banking, financial services for consumers and small businesses, commercial banking, financial transactions processing, and asset management.

    HISTORY


       The company is built on the foundation of more than 1,200 predecessor institutions that have come together through the years to form today’s company.

       It traces its roots to 1799 in New York City, and its heritage firms include J.P. Morgan & Co., The Chase Manhattan Bank, Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicago, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, Cazenove Group and the business acquired in the Washington Mutual transaction.

    Key mergers that shaped who JPMorgan Chase is today:

    • In 1991, Manufacturers Hanover Corp. merged with Chemical Banking Corp., under the name of Chemical Banking Corp., then the second-largest banking institution in the United States.
    • In 1995, First Chicago Corp. merged with NBD Bancorp., forming First Chicago NBD, the largest banking institution based in the Midwest.
    • In 1996, The Chase Manhattan Corp. merged with Chemical Banking Corp., under the name of The Chase Manhattan Corp., creating what was then the largest bank holding company in the United States.
    • In 1998, Banc One Corp. merged with First Chicago NBD, under the name of Bank One Corp. After a subsequent merger, Bank One became the largest financial services firm in the Midwest, the fourth-largest bank in the U. S. and the world’s largest Visa credit card issuer.
    • In 2000, J.P. Morgan & Co. Incorporated merged with The Chase Manhattan Corp., effectively combining four of the largest and oldest money center banking institutions in New York City (J.P. Morgan, Chase, Chemical and Manufacturers Hanover) into one firm under the name of J.P. Morgan Chase & Co.
    • In 2004, Bank One Corp. merged with J.P. Morgan Chase & Co. The New York Times said the merger “would realign the competitive landscape for banks” by uniting the investment and commercial banking skills of J.P. Morgan Chase with the consumer banking strengths of Bank One.
    • In 2008, JPMorgan Chase & Co. acquired The Bear Stearns Companies Inc., strengthening its capabilities across a broad range of businesses, including prime brokerage, cash clearing and energy trading globally.
    • Also in 2008, JPMorgan Chase & Co. acquired the deposits, assets and certain liabilities of Washington Mutual’s banking operations. This acquisition expanded Chase’s consumer branch network into California, Florida and Washington State and created the nation’s second-largest branch network — with locations reaching 42% of the U.S. population.
    • In 2010, J.P. Morgan acquired full ownership of its U.K. joint venture, J.P. Morgan Cazenove, one of Britain’s premier investment banks.”

       With more than 250,000 employees, JPMorgan Chase is considered one of the world’s oldest, largest, and best-known financial institutions. According to Forbes, it is considered one of the Largest Public Companies in the World.

    *Information from Forbes.com, Wikipedia, and www.jpmorganchase.com.

    **Video published on YouTube by “J.P. Morgan

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