JP Morgan Chase & Co is one of the world's largest financial institutions serving clients in the US and around the world. Representative offices of the company exist in more than 60 countries and provide their clients with a full range of financial services. The company is the market leader in investment banking, its services are used by both private consumers and corporations, government organizations.
As the name suggests, JP Morgan Chase & Co is based on two big names in the financial industry: JP Morgan и Chase. The history of the company, as well as its organizational structure, is an interweaving of many separate pieces of the mosaic, each component part of this financial corporation has its own interesting and richest historical heritage. The beginning of the history of the company lies in the period when the banking system of America was just emerging: in 1799, the The Bank of the Manhattan Co., which later became part of The Chase Manhattan Bank. Chase, whose name has retained the name of the financial corporation, is Salmon P. Chase, a famous American politician and lawyer. Chase National Bank, founded in 1877 by John Thompson, was named in his honor; by 1930, this bank becomes the largest in the world and absorbs The Bank of the Manhattan.
Another company that shared part of its name with JP Morgan Chase was Drexel, Morgan & Co, founded in 1871 in New York by bankers Anthony Drexel and J. Pierpont Morgan.
In 2000 Chase Manhattan bought JP Morgan and thereby not only gained a valuable brand in its asset, but also eliminated a strong competitor. The company acquired a cumbersome name, but apparently not a single part of its owners could tear it away from the heart. The company logos also merged into one: an octagon symbolizing Chase now began to take place before the name of the company, although in recent years the opposite has also happened, the organizational parts of the company use separate logos.
The company, as we know it today, is relatively new. Organizational formation JP Morgan Chase & Co completed in 2004, it included a number of major transactions that combined the capital of several companies that had already managed to earn credibility and fame in the global financial market. Companies that form the backbone of J.P Morgan Chase & Co, This - JP Morgan, Chase Manhattan, Chemical Banking Corp , Manufacturers Hanover, Bank One, First Chicago Banking Corp и National Bank of Detroit. The firm's headquarters are in New York and Chicago.