According to Chermayeff, the Chase logo was merely intended to be distinctive and geometric, and was not intended at all to resemble a cross-section of a wooden water pipe.[20] According to Chase, the sides of the octagon represent forward motion, while the blank space in the middle suggests progress originates from the center; and is a single unit made up of separate parts, like the bank.[21] The bank included an asset management business called the Chase Investors Management Corporation.