The Finance Owl

Banks – Loans – Mortgages – Money



JP Morgan Chase & Co.JP Morgan Chase and Co is thought to be the largest banking institution in the United States: the JP Morgan Chase & Co website states assets of 2.3 trillion dollars. It operates in more than 60 countries with more than 200,000 employees.

JP Morgan Chase and Co was formed in 2000 following the acquisition of J. P. Morgan and Co. by Chase Manhattan Corporation. 2004 saw it’s merger with Bank One Corp.

The JP Morgan Chase & Co Brand

The brand name “Chase” is used within the USA and Canada for credit card services alongside the banks retail banking activities in the USA.

History of JP Morgan Chase and Co

The origins of JP Morgan Chase and Co lie in the New York Chemical Manufacturing Company which was founded in 1823 as a maker of various chemicals. In 1824 the company became the Chemical Bank of New York.

Years on the bank parted from its parent. After some significant merges with Corn Exchange Bank, Texas Commerce Bank and Manufacturers Hanover Trust Company, Chemical Bank was at times claimed to be the largest Bank in the US.

Further Development

In 1996 the bank took on the Chase name having acquired the Chase Manhattan Corporation. JP and Morgan Co was subsequently acquired in 2000. These last two acquisitions resulted in what is today known as JP Morgan Chase and Co.

JP Morgan & Co and Chase Manhattan

David Rockefeller had led the Chase Manhattan Bank during the 1970’s and 1980’s as it became one of the largest and most prestigious banking concerns. In 1996, after it had weakened following a real estate collapse, Chase Manhattan was acquired by Chemical Bank. It retained the Chase name.

JP Morgan Chase & Co and the JP Morgan Company

In 1895 the partnership of Drexal, Morgan and Co was renamed JP Morgan and Co – a financial institute of great influence. This company financed the formation of the United States Steal Company. In the 1930’s JP Morgan and Co was required to separate its investment banking from its commercial banking operations. It chose to operate as a commercial bank.


Mergers and Acquisitions

The following are possibly some important dates and events in the banks history:

  • 2004: JP Morgan Chase acquired Bank One.
  • 2008: Following a significant deterioration of its market capitalisation Bear Stearns lost a huge percentage of its market value. JP Morgan acquired significant stock and a merger between the two companies was completed by June 2nd, 2008. Bear Stearns is now part of the JP Morgan Chase group.
  • 2008: JP Morgan Chase acquired the Washington Mutual Savings Bank on 25th September 2008.
  • 2006: JP Morgan Chase acquired Collegiate Funding Services, LLG to create Chase Education Finance.
  • 2008: March 26th JP Morgan acquired Climate Care.

Other Branded Services of JP Morgan and Chase Co

The following businesses have the JP Morgan brand:

  • JP Morgan Chase and Co Investment Banking
  • JP Morgan Chase and Co Asset management
  • JP Morgan Chase and Co Treasury Services
  • JP Morgan Chase and Co Worldwide Securities Services
  • JP Morgan Chase and Co Private Banking
  • JP Morgan Chase and Co Private Client Services
  • JP Morgan Chase and Co One Equity Partners

US consumer banking businesses of JP Morgan Chase & Co:

  • JP Morgan Chase and Co Branch, ATM, telephone and online banking
  • JP Morgan Chase and Co Credit cards
  • JP Morgan Chase and Co Small business
  • JP Morgan Chase and Co Home finance and home equity loans
  • JP Morgan Chase and Co Arts finance
  • JP Morgan Chase and Co Education finance
  • JP Morgan Chase and Co Insurance.

US commercial businesses of JP Morgan Chase & Co:

  • JP Morgan Chase and Co Middle Market
  • JP Morgan Chase and Co Corporate
  • JP Morgan Chase and Co Commercial real estate
  • JP Morgan Chase and Co Business Credit
  • JP Morgan Chase and Co Equipment leasing.