Īccording to page 115 of An Empire of Wealth by John Steele Gordon, the origin of this strand of JPMorgan Chase's history runs as follows:Īt the turn of the nineteenth century, obtaining a bank charter required an act of the state legislature. The Bank of the Manhattan Company was the creation of Aaron Burr, who transformed The Manhattan Company from a water carrier into a bank. The Chase Manhattan Bank was formed upon the 1955 purchase of Chase National Bank (established in 1877) by the Bank of the Manhattan Company (established in 1799), the company's oldest predecessor institution. The logo used by Chase following the merger with the Manhattan Bank in 1954 The present company was formed in 2000, when Chase Manhattan Corporation merged with J.P. The current company was originally known as Chemical Bank, which acquired Chase Manhattan and assumed that company's name. It is considered a systemically important bank by the Financial Stability Board. Both the retail and commercial bank and the bank's corporate headquarters are currently located at 383 Madison Avenue in Midtown Manhattan, New York City, since the prior headquarters building directly across the street, 270 Park Avenue, was demolished and a larger replacement headquarters is being built on the same site. The Chase brand is used for credit card services in the United States and Canada, the bank's retail banking activities in the United States and United Kingdom, and commercial banking. Fiduciary activity within private banking and private wealth management is done under the aegis of JPMorgan Chase Bank, N.A.-the actual trustee. Morgan brand is used by the investment banking, asset management, private banking, private wealth management, and treasury services divisions.
JPMorgan Chase is considered to be a universal bank and a custodian bank. It is one of America's Big Four banks, along with Bank of America, Citigroup, and Wells Fargo. As of 2021 it is the largest lender to the fossil fuel industry in the world. Īs a " Bulge Bracket" bank, it is a major provider of various investment banking and financial services.
As of June 30, 2021, JPMorgan Chase is the largest bank in the United States, the world's largest bank by market capitalization, and the fifth-largest worldwide in terms of total assets, controlling US$3.684 trillion. JPMorgan Chase is incorporated in Delaware. is an American multinational investment bank and financial services holding company headquartered in New York City.
Asset and Wealth Management, Consumer and Community Banking, Commercial Banking, Corporate and Investment Banking
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