JPMorgan Chase facts for kids
Public | |
Traded as | |
ISIN | US46625H1005 |
Industry | Financial services |
Predecessors | The Bank of the Manhattan Company (founded on September 1, 1799 Chemical Bank J.P. Morgan & Co. Chase National Bank |
)
Founded | December 1, 2000 |
Founders | Aaron Burr (The Bank of the Manhattan Company) Balthazar P. Melick (Chemical Bank) John Pierpont Morgan (J.P. Morgan & Co.) John Thompson (Chase National Bank) |
Headquarters |
,
U.S.
|
Area served
|
Worldwide |
Key people
|
Jamie Dimon (Chairman & CEO) Daniel E. Pinto (President & COO) |
Products | Asset management, banking, commodities, credit cards, equities trading, insurance, investment management, mortgage loans, mutual funds, private equity, risk management, wealth management, etc... |
Revenue | US$121.65 billion (2021) |
Operating income
|
▲ US$59.562 billion (2021) |
US$48.3 billion (2021) | |
AUM | US$3.1 trillion (2021) |
Total assets | US$3.831 trillion (2021) |
Total equity | US$294.1 billion (2021) |
Number of employees
|
271,025 (2021) |
Divisions | Asset and Wealth Management, Consumer and Community Banking, Commercial Banking, Corporate and Investment Banking |
Subsidiaries | Chase Bank J.P. Morgan & Co. One Equity Partners |
Capital ratio | Tier 1 15.0% (S30, 2021) |
JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of December 31, 2021, JPMorgan Chase is the largest bank in the United States, the world's largest bank by market capitalization, and the fifth-largest bank in the world in terms of total assets, with total assets totaling to US$3.831 trillion.
As a "Bulge Bracket" bank, it is a major provider of various investment banking and financial services. It is one of America's Big Four banks, along with Bank of America, Citigroup, and Wells Fargo. JPMorgan Chase is considered to be a universal bank and a custodian bank. The J.P. Morgan brand is used by the investment banking, asset management, private banking, private wealth management, and treasury services divisions. Fiduciary activity within private banking and private wealth management is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. 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. 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. It is considered a systemically important bank by the Financial Stability Board.
The current company was originally known as Chemical Bank, which acquired Chase Manhattan and assumed that company's name. The present company was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.
Notable former employees
Business
- Winthrop Aldrich – son of the late Senator Nelson Aldrich
- Andrew Crockett – former general manager of the Bank for International Settlements (1994–2003)
- Pierre Danon – chairman of Eircom
- Ina Drew – former CIO of JP Morgan Chase
- Dina Dublon – member of the board of directors of Microsoft, Accenture and PepsiCo and former Executive Vice President and Chief Financial Officer of JPMorgan Chase
- Maria Elena Lagomasino – member of the board of directors of The Coca-Cola Company and former CEO of JPMorgan Private Bank
- Jacob A. Frenkel – Governor of the Bank of Israel
- Thomas W. Lamont – acting head of J.P. Morgan & Co. on Black Tuesday
- Charles Li – former CEO of Hong Kong Exchanges and Clearing
- Robert I. Lipp – former CEO of The Travelers Companies
- Marjorie Magner – chairman of Gannett Company
- Henry S. Morgan – co-founder of Morgan Stanley, son of J. P. Morgan, Jr. and grandson of financier J. P. Morgan
- Lewis Reford – Canadian political candidate
- David Rockefeller – patriarch of the Rockefeller family
- Charlie Scharf – current CEO of Wells Fargo
- Harold Stanley – former JPMorgan partner, co-founder of Morgan Stanley
- Jes Staley – former CEO of Barclays
- Barry F. Sullivan – former CEO of First Chicago Bank and deputy mayor of New York City
- C. S. Venkatakrishnan – current CEO of Barclays
- Don M. Wilson III – former chief risk officer (CRO) of J. P. Morgan and current member of the board of directors at Bank of Montreal
- Ed Woodward – executive vice-chairman of Manchester United F.C.
Other
- R. Gordon Wasson – ethnomycologist and former JPMorgan vice president
Images for kids
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JPMorgan Chase Temporary World Headquarters 383 Madison Avenue New York City, New York
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277 Park Avenue New York City, New York
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28 Liberty Street New York City, New York
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Chase Tower Rochester, New York
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Chase Tower Phoenix, Arizona
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Chase Tower Chicago, Illinois
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Chase Tower Indianapolis, Indiana
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Chase Tower Dallas, Texas
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JPMorgan Chase Tower Houston, Texas
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25 Bank Street London, United Kingdom
See also
In Spanish: JP Morgan Chase para niños