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Home > Company > Jpmorgan Chase Group
Company

Jpmorgan Chase Group

JPMorgan Chase is one of the world's most profitable banks, with over US$2.5 trillion in assets and over US$1.5 trillion in funds under management

Last updated: Apr 12, 2025

J.P. Morgan Chase & Co (NYSE: JPM;), headquartered in New York, USA, with total assets of US$2.5 trillion, total deposits of up to US$1.5 trillion and more than 6,000 branches, is one of the largest financial services institutions in the United States.


JPMorgan Chase was formed in 2000 by the merger of Chase Manhattan Bank and J.P. Morgan & Co. and the acquisitions of First Bank of Chicago and Bear Stearns Bank and Washington Mutual Bank, respectively. JPMorgan Chase is a multinational financial services organization and one of the largest banks in the United States, with operations in more than 60 countries, including investment banking, financial transaction processing, investment management, commercial financial services, and personal banking.

JPMorgan Chase is headquartered at One Chase Manhattan Plaza in Manhattan, with some banking operations relocated to JPMorgan Chase Tower in Houston, Texas.


JPMorgan Bank, originally known as JPMorgan Guaranty Trust Company of New York, was formed on 20 April 1959 by the merger of two commercial banks, one also known as J.P. Morgan and Company and one as New York Guaranty Trust Company.

The J.P. Morgan Company, which formed the Morgan Guaranty Trust Company of New York, was founded in 1860 and named after J. Pierpont Morgan. At the time of its creation, the company was a one-man office specialising in buying and selling foreign exchange. The business has since grown.

In 1864 the name was changed to Dabney Morgan, in 1871 to Drexel Morgan and in 1895 to J.P. Morgan. From its early days, the firm was closely associated with the historical events that took place in the American financial world.


During the First World War, the company made a fortune underwriting American financial operations to Western Europe. After 1940, Morgan & Co. changed from a partnership to a corporation and began operating a trust business.

The New York Guaranty Trust Company was founded in 1864 and renamed the New York Guaranty Trust Company in 1896. 1910 saw the merger of the Morton Trust Company and the Fifth Avenue Trust Company, 1912 saw the merger of the Standard Trust Company and 1929 saw the merger of the Mercantile Bank.

After the Second World War, competition in the US banking world became increasingly intense. The merger of JPMorgan with the New York Guaranty Trust Company to form the New York JPMorgan Guaranty Trust Company strengthened its strength and allowed it to compete more effectively.

In the late 1960s, J.P. Morgan & Co. was established as a holding company of J.P. Morgan Bank, the New York J.P. Morgan Guaranty Trust Company, and its scope of operations was further expanded. In response to changes in the domestic and international financial markets, the firm established a number of new subsidiaries, including JPMorgan Social Development Corporation, which was established in 1971 and renamed in 1976, JPMorgan Futures Corporation, which was established in 1981, and J.P. Morgan Securities Corporation, which was established in 1986.

Founded in 1799 by the Manhattan Company, which supplied water to New York City, Chase Manhattan became the nation's leader in commercial and industrial lending by 1922 and the largest bank in the country within six years.


Since the 1990s, the company has expanded further with the wave of information, such as the introduction of online banking and more convenient credit card services for its customers. The bank's operations are now global, but the company continues to serve millions of customers around the world with honesty, fairness and equity.


J.P. Morgan & Co. was originally established as a British merchant bank in London by John Pierpont Morgan's father, and was instrumental in the initial structuring and financing of some of the most prestigious companies in the late 19th and early 20th centuries, including American Steel, General Electric and American Telephone & Telegraph.

Fleming Group is a global investment banking group based in London, with its Asian operations operating under the Jardine Fleming name and Jardine Fleming Securities, the region's first investment banking group, established in Hong Kong in 1970 by Fleming and Jardine Matheson.

Formed in December 2000 by the merger of J.P. Morgan & Co. and Chase Manhattan Corporation, it is the leading commercial bank in the United States. Known in the industry as Seymour or Little Morgan, and in China as MogenBank, the merged JPMorgan operates in two main areas.

The first is the provision of global wholesale financial services to corporations, institutions and wealthy individuals under the JP Morgan name.

The second is the provision of retail banking services to 30 million customers in the United States under the Chase brand. Its financial services include equity offerings, M&A advisory, bonds, private banking, asset management, risk management, private placements and treasury management.

In 2004, JP Morgan Chase acquired Chicago First Bank, appointing Jamie Dimon, CEO of Chicago First Bank, as Chief Operating Officer, as the successor to the current CEO. The company's brand was ranked 72nd on the 2006 World Brand Lab's Top 500 Brands list and 38th on Barron's 2006 list of the 100 most respected companies in the world. The company was ranked thirty-first in Fortune's 2007 ranking of the world's 500 largest companies.

On 14 June 2004, the Federal Reserve issued a statement approving the proposed merger of JPMorgan Chase Bank, N.A. and Bank One USA. The new JPMorgan Chase Bank, with total assets of US$1.12 trillion, will overtake Bank of America and will be just one step away from Citi, the number one bank with US$1.19 trillion in assets, and will expand its operations from New York to the entire Midwest, making it the second bank after Citi to truly span the region.


18 May 2021 - JPMorgan Chase has tapped Elaine Zhang from Credit Suisse to lead its China private banking business in Singapore, advancing its strategy to capture growth opportunities in Asia's second-largest wealth market.

TAGGED: Finance, Banking, J.P. Morgan
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