JPMorgan Chase

JPMorgan Chase & Co.
	200px
Company type	Public
Traded as	NYSE: [Script error: No such module "Stock tickers/NYSE". JPM]
ISIN	US46625H1005
Industry	Financial services
Founded	December 1, 2000; 23 years ago
Area served	Worldwide
Key people	Jamie Dimon (Chairman & CEO)
Products	Asset management, Investment banking, Private banking, Retail banking, Wealth management
Revenue	$119.54 billion (2020)
Net income	$29.13 billion (2020)
Total assets	$3.386 trillion (2020)
Total equity	$256.51 billion (2020)
Number of employees	255,351 (2020)
Website	www.jpmorganchase.com

JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City. It is the largest bank in the United States and the largest bank in the world by market capitalization. As a major provider of various financial services, it is considered a universal bank and a custodian bank. The firm was formed in 2000, when Chase Manhattan Bank merged with J.P. Morgan & Co..

History[edit | edit source]

The history of JPMorgan Chase dates back to 1799, with the founding of The Manhattan Company by Aaron Burr. Over the years, the company has undergone numerous mergers and acquisitions, including the merger of Chemical Bank and Chase Manhattan Bank in 1996, and the acquisition of Bank One Corporation in 2004.

Operations[edit | edit source]

JPMorgan Chase operates in four major business segments:

Consumer & Community Banking[edit | edit source]

This segment provides services such as retail banking, credit cards, and auto loans to consumers and small businesses. It operates under the Chase brand.

Corporate & Investment Bank[edit | edit source]

This segment offers services including investment banking, market making, and treasury and securities services. It serves corporations, governments, and institutions.

Commercial Banking[edit | edit source]

This segment provides financial solutions, including lending, treasury services, and investment banking to small and mid-sized businesses.

Asset & Wealth Management[edit | edit source]

This segment offers investment management, wealth planning, and retirement planning services to individuals and institutions.

Leadership[edit | edit source]

The current Chairman and CEO of JPMorgan Chase is Jamie Dimon, who has held the position since 2005. Under his leadership, the company has navigated through the financial crisis of 2007–2008 and has continued to grow its market presence.

Corporate Social Responsibility[edit | edit source]

JPMorgan Chase is involved in various corporate social responsibility initiatives, including community development, philanthropy, and sustainability efforts. The company has committed significant resources to support economic growth and workforce development in underserved communities.

Controversies[edit | edit source]

JPMorgan Chase has faced several controversies over the years, including legal issues related to mortgage-backed securities during the financial crisis, and allegations of market manipulation.

References[edit | edit source]

External links[edit | edit source]

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