Take a look at one of the most important companies in the world, JP Morgan Chase

JP Morgan
Image courtesy of Thomas Hawk at Flickr.com

JPMorgan Chase and Company it is a multinational Bank of America origins and it is also a financial holding services company. It is the largest bank of the United States on assets and from 2012 it ranks as the second largest bank in the world on assets as well.

JPMorgan Chase

JPMorgan Chase & Co is a multinational American Bank American and It is the largest bank of the United States, in 2012 it became the second largest bank in the world. This bank is a leading provider of financial services, with assets around $ 250,000,000,000, and according to Forbes magazine based on a composite ranking, it is the second largest public company in the world. JPMorgan Chase hedge fund unit is one of the largest coverage funds in the United States, it was formed in 2000, when The Chase Manhattan Corporation merged with JP Morgan and Co.

The JP Morgan brand

Historically known as Morgan it is used by the Treasury and the services for security division of investment banking as well as the management of assets, private banking and private wealth management, the fiduciary activity in private banking and private wealth management is done under the coverage of JPMorgan Chase Bank, NA, the royal Trust.

Chase
Image courtesy of Thomas Hawk at Flickr.com

The Chase brand is used for credit card services in the United States and Canada, the retail banking activities of the bank in the United States and the commercial banking. The headquarters of this company are located at 270 Park Avenue, Midtown, Manhattan, city of New York, New York, and the retail Bank as well as the commercial one have their headquarters in Chase Tower, Chicago Loop in Chicago, Illinois in The United States. Because of this the JPMorgan Chase & Co is considered to be a universal bank.

JP Morgan Chase

This company is one of the four biggest Banks in The United States together with Bank of America, Citigroup and Wells Fargo. According to Bloomberg, in October of 2011, JP Morgan Chase surpassed Bank of America as the biggest bank in The United States on assets, through its predecessor, the Manhattan Company Bank is the 22nd oldest bank in the world.  

History

JP Morgan Chase in its current structure is the result of the combination of many big banking entities in The United States for the last decade including the Chase Manhattan Bank, JP Morgan & Co, Bank One, Bear Stearns and The Washington Mutual but going further back, its predecessors are the main banking firms like The Chemical Bank Manufacturers Hanover, The First Chicago Bank, The Detroit National Bank, The Texas Commerce Bank, The Providian Financial and The Great Western Bank.

J.P Morgan and Company

The heritage of the Morgan House has its roots in the Association of Drexel, Morgan and Company which became known as JP Morgan and Co in 1895. It could be said that the most influential financial institution of its time JP Morgan & Co financed the formation of the United States Steel Corporation which took over the business of Andrew Carnegie and others and was the first billion dollar company in the world.

In 1895, JP Morgan & Co supplied the United States Government with $62 million in gold to create a bond issue and restore the Treasury remnant of $100 million. In 1892, the company began to finance the New York, New Haven and Hartford and led it through a series of acquisitions that the dominant railway carrier made in New England. Although its name was large, Morgan had only 19% of the Morgan assets, the rest was owned by the Rothschild family after a series of bailouts and rescues attributed by some to the stubborn will of Morgan and apparently “non-existent” investment intelligence.

The attack

In 1914, 23 Wall Street was known as the “House of Morgan”, and for decades the Bank’s headquarters was the most important place in American finance. At noon, on September 16 of 1920, a terrorist bomb exploded in front of the Bank, wounding and killing from 38 to 400 people. Shortly before the bomb exploded, a warning note was placed in a mailbox at the corner of Cedar Street and Broadway, the note said: “Remember that we will not tolerate free political prisoners any longer or it will be a sure death for all of you U.S. Fighters anarchists..” While there are many assumptions about who was behind the attack and why they did it, after 20 years of FBI investigation it was dictated that the case was inactive and the responsible ones were never found.

As we can see, JP Morgan has gone through a lot of different changes, merges and threats but it hasn’t lost its ability to rule a big part of the financial world in the most important country in the world.  

JP Morgan Chase Tower Houston
Image courtesy of jerry1540 at Flickr.com
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