JP Morgan Chase is a world leader in financial services, and has the distinction of being one of the oldest of its kind in the world, with roots going back to 1854 when Junius S. Morgan started his career in financial circles. His son J. Pierpont Morgan took over the reigns, joining forces with Anthony J. Drexel to establish the firm of Drexel, Morgan & Co in New York in 1871. This later changed to JP Morgan & Co., becoming the world’s first billion-dollar corporation. The landmark building at 23 Wall Street, served as the headquarters of JP Morgan for many years. In 1998 JP Morgan started investigating the feasibility of merging with another bank, finally settling on a merger with Chase Manhattan Bank, which led to the formation of JP Morgan Chase.
Listed on the New York Stock Exchange (NYSE:JPM), the company has weathered the ongoing financial and credit crisis where others have failed. The reasons for its success are no doubt complex, but can be attributed in part to its insistence on sticking to business principles and core values to, as they say, “do the right thing”, which may mean sacrificing short-term growth in favor of long-term opportunity. As a component of the Dow Jones Industrial Average and with assets of $2 trillion, JP Morgan Chase is a leader in financial consumer services, investment banking, financial transaction processing, small business banking, commercial banking, private equity and asset management. This financial powerhouse operates in more than 60 countries and employs over 200,000 people.
Under the Chase brand, JP Morgan Chase provides consumer services including ATM, branch, online and telephone banking, credit cards, small business banking, home finance, home equity loans, education finance, auto finance, retirement planning and investing, as well as commercial banking services, commercial real estate, business credit and equipment finance. Under the JP Morgan brand, the company offers investment banking, asset management, treasury services, private banking, worldwide securities services, and private client services. Clients of JP Morgan include high-profile corporations, institutional investors, governments and wealthy individuals.