Background Information on JPMorgan Chase
Overview
To give a brief introduction on JPMorgan Chase, CNN Business defines the company as a financial holding institution that is composed of two merged parties: J.P. Morgan Co. and the Chase Manhattan Bank. The company offers services in terms of investment banking products, financial services, and personal banking. As of the last quarter, the firm had $3.7 trillion in assets and $303 billion in stockholder’s equity under management.
Background information of JPMorgan Chase’s Operations
When looking at a conglomerate as large as JPMorgan Chase, it is clear that their operations are significant, vast, and complex in nature. As shown in a Britannica article, though, the operations and activities can be separated into the different parent companies.
Chase
For all intents and purposes, Chase can be looked at as the “average working-person’s bank.” With a great deal of experience with personal and small-business banking, this division of the company focuses on guiding the normal consumer through their banking services.
J.P. Morgan
On the other hand, J.P. Morgan is not for what the banking world would consider the “average consumer.” Instead, its services are geared toward people of Jeffrey Epstein’s wealth and influence. Specifically, J.P. Morgan provides services like investment banking, government securities, and commercial banking.
Sphere of Influence
As stated on the company’s website, JPMorgan Chase operates in over sixty countries, with more than 240,000 employees worldwide. This truly demonstrates the sheer amount of influence that the company has over the world. But, with such power comes responsibility—which it seems the company lacks.
Shareholders (As of Nov. 2023)
Mutual fund holders: 36.85%
Other institutional: 34.66%
Individual stakeholders: 1.48%
Top Executives (As of Nov. 2023)
Jamie Dimon: Chairman & Chief Executive Officer (CEO)
Daniel E. Pinto: President & Chief Operations Officer (COO)
Jeremy Barnum: Executive VP & Chief Financial Officer (CFO)
Rohan Amin: Chief Information Security Officer (CISO)
Lori A. Beer: Global Chief Information Officer (GCIO)
The Mission and Vision Statement of JPMorgan Chase
Mission Statement
As stated on the company’s website, JPMorgan Chase’s mission statement is as follows, “At JPMorgan Chase, our mission is to provide innovative financial solutions, exceptional services, and build sustainable relationships with our clients, shareholders, and communities we serve.”
Would recent events express the company’s devotion to this mission? I think not.
Vision Statement
In another showcase of the company’s excellent public relations department, the vision statement reads, “We aim to be the most respected financial services firms in the world, serving corporations and individuals in more than 100 countries.”
In today’s climate, it seems that the only demographic of customers that give JPMorgan Chase respect are those who use their firm to move dirty, criminal assets. If that was the vision of the company, they certainly have achieved their goal.
Official Corporate History of JPMorgan Chase
1799
The corporate history of the company, found on JPMorgan Chase’s website, began in this year when the Manhattan Company was founded. This was JPMorgan Chase’s earliest predecessor
institution, and was led by Alexander Hamilton and Aaron Burr. The location served as one of the main firms for JPMorgan Chase in the U.S., and would change hands multiple times before ending up with JPMorgan Chase.
1863
This year marked the founding of the New York Guaranty and Indemnity Company. The firm would later evolve into the Guaranty Trust Company of New York, merging with J.P. Morgan & Co. in 1959.
1868
This year served as one of the first interactions of the main founder, J. Pierpont Morgan. During the year, he partnered with Anthony Drexel of Paris, France to establish a bank in New York, which was later renamed J.P. Morgan & Co.
1877
The year provided the first moves of the counterpart of the business, Chase National Bank. Founded by John Thompson, he named the institution in honor of his friend, Salmon P. Chase.
1914
During this time, the historical J.P. Morgan & Co. building was created on Wall Street.
1940
For the first time, J.P. Morgan & Co. released an initial public offering, providing stock to be traded on the market.
1955
Chase National Bank merged with The Bank of Manhattan to create the Chase Manhattan Bank.
1959
J.P. Morgan & Co. merged with Guaranty Trust Company to form the Morgan Guaranty Trust Company of New York.
2000
In December, 2000, J.P. Morgan & Co. and the Chase Manhattan Corporation merged to create JPMorgan Chase & Co.
Works Cited
History of Our Firm. http://www.jpmorganchase.com/about/our-history
JPM – JPMorgan Chase and Co Company Profile – CNNMoney.com. money.cnn.com/quote/profile/profile.html?symb=JPM.
JPMorgan Chase Acquires Substantial Majority of Assets and Assumes Certain Liabilities of First Republic Bank.
Our Business. http://www.jpmorganchase.com/about/our-business
The Editors of Encyclopaedia Britannica. “JPMorgan Chase &Amp; Co. | Financial Services, Investment Banking, Asset Management.” Encyclopedia Britannica, 9 Nov. 2023, http://www.britannica.com/topic/JPMorgan-Chase-and-Co.
Who We Are. http://www.jpmorganchase.com/about.
Jeremy LaValley 