About the Company
Headquartered in New York City, JP Morgan Chase & Co. is a financial service holding company and a multinational investment bank. As of 2021, it is one of the world’s largest banks in terms of total assets with an employee base of over 2,50,000 individuals worldwide. It has operations in more than 100 global markets and manages over $2.6 trillion worth of client assets.
The company actively participates in philanthropic activities, and their recent endeavours include empowering the disabled community and advancement of racial equity. It is one of the Bulge Bracket banks, providing various services related to investment banking and finance to large and small businesses. JP Morgan Chase is considered one of the most valuable banks globally by market capitalization, and it topped the charts till 2019.
It offers services ranging from private banking, asset management, private wealth management, investment banking, and treasury services divisions. Some of its products are alternative financial services, foreign exchange market, loan servicing, commodities trading, currency exchange, investment portfolios, securities lending, wholesale mortgage lending, investment banking, investment capital, investment management, merchant services, mobile banking, risk management, security services, etc.
With its history dating back to 1799 and a total of 1,200 predecessors, it is one of the oldest and largest banking institutions in the US. Some of these firms include The First National Bank of Chicago, Robert Fleming Holdings, Manufacturers Hanover Trust Co., The Bear Stearns Companies Inc., Cazenove Group, Chemical Bank, National Bank of Detroit, and the company that started it all in 1799, The Manhattan Company. Its first philanthropic participation was in 1807 when The Manhattan Company allowed the fire volunteers of New York City free access to its water pipes to fight the fire. The company, in its current structure, was incorporated on 1st December 2000.
Since then it has acquired several significant companies such as Bank One Corp. in 2004, Collegiate Funding Services and Bank of New York Mellon in 2006, Bear Stearns and ClimateCare in 2008, Bloomspot in 2013, etc. The Company also owns five subsidiaries in the USA, namely JP Morgan Bank and Trust Company, JP Morgan & Co., JP Morgan Chase Bank Dearborn, JP Morgan Chase Bank, and Custodial Trust Company.
As of 2021, it is a component in market indices like S&P 100, S&P 500, and Dow Jones Industrial Average. JP Morgan Chase trades in the New York Stock Exchange under the trading symbol JPM. It is the 17th company in Fortune 500 companies list of 2020 and Fortune has also recognised it in its Global 500 and World’s Most Admired Companies as well. ;
|JPMorgan Chase & Co
|New York, NY