When was JP Morgan Chase established?
Sony Bank
Upon the bank's founding in 2001, JP Morgan Chase owned a 4% stake in the company. JP Morgan had hoped to expand its asset and wealth management services in Japan. The company reduced its ownership to 3.2% by 2005. It sold off its entire stake in 2005, claiming to have discussed the move with Sony in advance.
Lajos Markos
Even today, the JP Morgan Chase Building at Main and Travis is ensconced in grandiosity as it celebrates its 75th anniversary.
JPMorgan Chase
Chase paid out over $2 billion in fines and legal settlements for their role in financing Enron Corporation with aiding and abetting Enron Corp.'s securities fraud, which collapsed amid a financial scandal in 2001. In 2003, Chase paid $160 million in fines and penalties to settle claims by the Securities and Exchange Commission and the Manhattan district attorney's office. In 2005, Chase paid $2.2 billion to settle a lawsuit filed by investors in Enron.
JPMorgan Chase
In April 2012, hedge fund insiders became aware that the market in credit default swaps was possibly being affected by the activities of Bruno Iksil, a trader for J.P. Morgan Chase & Co., referred to as "the London whale" in reference to the huge positions he was taking. Heavy opposing bets to his positions are known to have been made by traders, including another branch of J.P. Morgan, who purchased the derivatives offered by J.P. Morgan in such high volume. Early reports were denied and minimized by the firm in an attempt to minimize exposure. Major losses, $2 billion, were reported by the firm in May 2012, in relation to these trades and updated to $4.4 billion on July 13, 2012. The disclosure, which resulted in headlines in the media, did not disclose the exact nature of the trading involved, which remains in progress and as of June 28, 2012, was continuing to produce losses which could total as much as $9 billion under worst-case scenarios. The item traded, possibly related to CDX IG 9, an index based on the default risk of major U.S. corporations, has been described as a "derivative of a derivative". On the company's emergency conference call, JPMorgan Chase Chairman, CEO and President Jamie Dimon said the strategy was "flawed, complex, poorly reviewed, poorly executed, and poorly monitored". The episode is being investigated by the Federal Reserve, the SEC, and the FBI.
JPMorgan Chase
J.P. Morgan Chase & Co. is an American multinational investment bank and financial services company headquartered in New York City. JPMorgan Chase is the largest bank in the United States, and is ranked by S&P Global as the sixth largest bank in the world by total assets , to the amount of $2.534 trillion. It is the world's most valuable bank by market capitalization.
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, historically known as Morgan, is used by the investment banking, asset management, private banking, private wealth management, and treasury & securities 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 commercial banking. Both the retail and commercial bank and the bank's corporate headquarters are located at 270 Park Avenue in Midtown Manhattan, New York City. The company was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.
George Peabody
Born into a poor family in Massachusetts, Peabody went into business in dry goods and later into banking. In 1837 he moved to London (which was then the capital of world finance) where he became the most noted American banker and helped to establish the young country's international credit. Having no son of his own to whom he could pass on his business, Peabody took on Junius Spencer Morgan as a partner in 1854 and their joint business would go on to become J.P. Morgan & Co. after Peabody's 1864 retirement.
JPMorgan Chase
In August 1914, Henry P. Davison, a Morgan partner, traveled to the UK and made a deal with the Bank of England to make J.P. Morgan & Co. the monopoly underwriter of war bonds for the UK and France. The Bank of England became a "fiscal agent" of J.P. Morgan & Co., and vice versa. The company also invested in the suppliers of war equipment to Britain and France. Thus, the company profited from the financing and purchasing activities of the two European governments.
Chemical Bank
The bank continued to operate under the Chase brand until its acquisition of J.P. Morgan & Co. in December 2000 to form JPMorgan Chase & Co. Throughout all of these acquisitions, Chemical's original management team, led by Walter V. Shipley, remained in charge of the bank. When the combined bank purchased J.P. Morgan & Co., William B. Harrison, Jr., who had been a longtime Chemical executive, was named CEO of the combined firm. Additionally, many of Chemical's businesses remained intact through the various mergers. Chemical's private equity group for example, was renamed multiple times, ultimately becoming JP Morgan Partners before completing a spin-out from the bank, as CCMP Capital, after the bank's 2004 merger with Bank One. Additionally, JPMorgan Chase retains Chemical's pre-1996 stock price history, as well as Chemical's old headquarters at 270 Park Avenue.
History of investment banking in the United States
The Glass–Steagall Act of 1933 was passed in reaction to the collapse of a large portion of the American commercial banking system in early 1933. One of its provisions introduced the separation of bank types according to their business (commercial and investment banking). In order to comply with the new regulation, most large banks split into separate entities. For example, JP Morgan split into three entities: JP Morgan continued to operate as a commercial bank, Morgan Stanley was formed to operate as an investment bank, and Morgan Grenfell operated as a British merchant bank.
J.P. Morgan in the United Kingdom
J.P. Morgan's founder is J. Pierpont Morgan. His father, Junius, was in the merchant banking business in London from 1854 until his death in 1890. In 1873, the Scottish American Investment Trust, a predecessor firm (Robert Fleming & Co. was sold to Chase Manhattan in 2000) was formed. In 1887, Jarvis-Conklin Mortgage Trust Company opened in London and through a series of mergers and reorganizations, this firm became part of the Chase bank.
JPMorgan Chase
In June 2010, J.P. Morgan Securities was fined a record £33.32 million ($49.12 million) by the UK Financial Services Authority (FSA) for failing to protect an average of £5.5 billion of clients' money from 2002 to 2009. 
FSA requires financial firms to keep clients' funds in separate accounts to protect the clients in case such firm becomes insolvent. The firm had failed to properly segregate client funds from corporate funds following the merger of Chase and J.P. Morgan, resulting in a violation of FSA regulations but no losses to clients. The clients' funds would have been at risk had the firm become insolvent during this period. J.P. Morgan Securities reported the incident to the FSA, corrected the errors, and cooperated in the ensuing investigation, resulting in the fine being reduced 30% from an original amount of £47.6 million.
John J. Mack
Mack guided the firm through the financial crisis of 2008, building its capital position and overseeing the firm's conversion to a bank holding company. To stabilize the firm, he forged strategic alliances with China Investment Corporation and Mitsubishi UFJ Group and entered into a joint venture with Smith Barney, forming at the time the world's largest wealth management firm. During the crisis, Mack was advised by U.S. Treasury Secretary Hank Paulson and the head of the Federal Reserve Bank Ben Bernanke to sell Morgan Stanley. He has stated that during negotiations he was under considerable pressure from the president of the New York Federal Reserve, Tim Geithner, to sell or merge Morgan Stanley to one of his competitors such as JP Morgan. Mack saw this as being contrary to the interests of Morgan Stanley shareholders and employees, similar to the demise of Bear Stearns in a forced sale to JP Morgan for $2 per share, (the deal was later revised to $10 a share), and insisted on finding other sources of financing instead.Mack has donated to various entities through the Christy and John Mack Foundation, formerly known as C.J. Mack Foundation:
Keith R. Harris
Dr Harris was President of Morgan Grenfell Inc. (now owned by Deutsche Bank) and was the youngest ever director at the British bank. Morgan, Grenfell & Co. was a leading London-based investment bank regarded as one of the oldest and once most influential British merchant banks. The bank was founded by the American George Peabody in 1838 as the UK branch of his US bank which subsequently became known as J.P. Morgan & Co. In 1904, Edward Grenfell was made a partner in the firm, and, in 1909, it underwent a change of name to become Morgan, Grenfell and Company. Dr Harris spent eight years at Morgan Grenfell.
Salmon P. Chase
Chase gradually drifted back toward his old Democratic allegiance, and made an unsuccessful effort to secure the Democratic nomination for the presidency in 1868. He "was passed over because of his stance in favor of voting rights for black men". In 1871, The New Departure policy of Ohio Democrat Clement Vallandigham was endorsed by Chase. He helped found the Liberal Republican Party in 1872, unsuccessfully seeking its presidential nomination. Chase was also a Freemason, active in the lodges of Midwestern society. He collaborated with John Purdue, the founder of Lafayette Bank and Purdue University. Eventually, JP Morgan Chase & Co. would purchase Purdue National Corporation of Lafayette, Indiana in 1984.
J. P. Morgan
After the death of Anthony Drexel, the firm was rechristened "J. P. Morgan & Company" in 1895, retaining close ties with Drexel & Company of Philadelphia; Morgan, Harjes & Company of Paris; and J.S. Morgan & Company (after 1910 Morgan, Grenfell & Company) of London. By 1900, it was one of the most powerful banking houses of the world, focused especially on reorganizations and consolidations.
JPMorgan Chase
Although the old Chase Manhattan Bank's headquarters were located at One Chase Manhattan Plaza (now known as 28 Liberty Street) in downtown Manhattan, the current world headquarters for JPMorgan Chase & Co. are located at 270 Park Avenue, Chemical Bank's former headquarters. In 2018, JPMorgan announced they would demolish the current building on site at 270 Park Avenue to make way for a newer building that will be 500 feet (150 m) taller than the existing building. Demolition is expected to begin in early 2019, and the new building will be completed in 2024. The replacement 70-story headquarters will be able to fit 15,000 employees, whereas the current building fits 6,000 employees in a space that has a capacity of 3,500. The new headquarters is part of the East Midtown rezoning plan.
Jimmy Lee (banker)
Lee joined Chemical Bank in 1975 and worked in a variety of lending businesses until 1980, when he founded and ran Chemical’s merchant bank in Australia. In 1982, he returned to the US and started the bank’s syndicated leverage finance group, which constituted the origins of the investment banking business at Chemical and later Chase Manhattan Bank. Lee ran the investment bank until the merger with J.P. Morgan & Co. in 2001.
Following Chemical’s merger with Manufacturers Hanover in 1994, Lee founded the bank’s high yield (or junk bond) business, which was the bank's first public securities operation. At the same time, he built the bank’s financial sponsor coverage business focused on private equity firms as well as the bank's mergers and acquisitions business.
J. P. Morgan Jr.
John Pierpont "Jack" Morgan Jr. (September 7, 1867 – March 13, 1943) was an American banker, finance executive, and philanthropist. Morgan Jr. inherited the family fortune and took over the business interests including J.P. Morgan & Co. after his father J. P. Morgan died in 1913.
Douglas A. Warner III
Analysts say that Mr. Warner was a key figure throughout the 1980s and 1990s in the transformation of J.P. Morgan from a commercial bank to an investment banking firm. For example, J.P. Morgan was the first commercial bank since the 1930s to be granted the power to underwrite debt and equity securities. Under Warner, the firm ended lifelong job security as a result of a 1998 restructuring. One of his biggest cultural marks on J.P. Morgan was the creation of the "House Arrest" group, a dozen or so senior executives who met monthly to discuss management issues.In 1998, Warner was an invited Gordon Grand Fellow lecturer at Yale University, and in 2001, he was awarded the Leadership Award from The Hill School. As an alumnus of The Hill School, Warner had proven himself "to be an exemplary leader and true role model for students in his vocation."
Anthony Joseph Drexel
Two years after Drexel's death in 1893, Drexel, Morgan & Co. was renamed J.P. Morgan & Co., one of the original predecessors of what is today JPMorgan Chase. In 1901, the bank financed the formation of the United States Steel Corporation, the world's first billion-dollar corporation, which took over the business of Andrew Carnegie and other companies.
Jamie Dimon
On the May 15, 2012, episode of ABC's "The View", Obama responded to a question from Whoopi Goldberg regarding JPMorgan Chase's recently publicized $2 billion trading losses by defending Dimon against allegations of irresponsibility, saying, "first of all, JP Morgan is one of the best managed banks there is. Jamie Dimon, the head of it, is one of the smartest bankers we've got", but added, "it's going to be investigated".
Texas Commerce Bank
Through a series of mergers and acquisitions Chemical Bank bought Chase Manhattan Bank and then JP Morgan finally changed Texas Commerce to JPMorgan Chase & Co.
Morgan, Harjes &amp; Co.
Morgan, Harjes & Co. (originally Drexel, Harjes & Co.) was a Paris-based investment bank founded in 1868 by John H. Harjes, Eugene Winthrop and Anthony J. Drexel as Drexel, Harjes & Co. In 1871, with the formation of Drexel, Morgan & Co., together with J. Pierpont Morgan, the company became the French affiliate of an international banking firm with offices in London, Philadelphia, New York City and Paris that would subsequently become J.P. Morgan & Co.
15 Broad Street
The structure was later bought and remodeled as the headquarters of the Morgan Guaranty Trust Company, a forerunner of J. P. Morgan Chase & Company. In 1957 the building was linked to neighboring 23 Wall Street.
Max Keiser
Keiser has labeled JPMorgan Chase "the biggest financial terrorist on Wall Street" in relation to their alleged manipulation of the price of silver. Keiser created a campaign called "Crash JP Morgan—buy silver", whereby people buy silver bullion, thus raising its price and leaving JP Morgan with a huge short position to cover, the margin of which are collateralized by JPMorgan's own stock price, bankrupting itself. The campaign was introduced on the Alex Jones Radio show in November 2010. Writing in "The Guardian" in December 2010, Keiser suggested that the text "crash jp morgan buy silver" should be used as a googlebomb to virally promote the campaign.
Chase Bank
In 2004, JPMorgan Chase merged with Chicago-based Bank One Corp., bringing on board its current chairman and CEO Jamie Dimon as president and COO and designating him as CEO William B. Harrison, Jr.'s successor. Dimon's pay was pegged at 90% of Harrison's. Dimon quickly made his influence felt by embarking on a cost-cutting strategy and replaced former JPMorgan Chase executives in key positions with Bank One executives—many of whom were with Dimon at Citigroup. Dimon became CEO in January 2006 and Chairman in December 2006 after Harrison's resignation.
J.P. Morgan &amp; Co.
J.P. Morgan & Co. is a commercial and investment banking institution founded by J. P. Morgan in 1871. The company was a predecessor of three of the largest banking institutions in the world, JPMorgan Chase, Morgan Stanley, and Deutsche Bank (via Morgan, Grenfell & Co.), and was involved in the formation of Drexel Burnham Lambert. The company is sometimes referred to as the ""House of Morgan" or simply ""Morgan".
J. P. Morgan
In 1892, Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. He also played important roles in the formation of the United States Steel Corporation, International Harvester and AT&T. At the height of Morgan's career during the early twentieth century, he and his partners had financial investments in many large corporations and had significant influence over the nation's high finance and United States Congress members. He directed the banking coalition that stopped the Panic of 1907. He was the leading financier of the Progressive Era, and his dedication to efficiency and modernization helped transform American business. Adrian Wooldridge characterized Morgan as America's "greatest banker".
Chase Paymentech
Chase Paymentech opened its first European office in Dublin, Ireland in 2004. That year also saw the merger of Bank One and JPMorgan Chase. In 2008, FDC and JPMorgan announced that their Chase Paymentech joint venture was coming to an end, and Chase Paymentech became the merchant services subsidiary of JPMorgan Chase Bank, N.A.
Deutsche Bank Building
On June 14, 2007, Bloomberg and then-Governor Eliot Spitzer announced that JPMorgan Chase had won the bid to buy and build the new tower at 130 Liberty Street to replace the Deutsche Bank Building. However, after the acquisition of Bear Stearns by JPMorgan Chase in March 2008, the future of 130 Liberty Street has been put into question as JPMorgan Chase has announced that it intends to move into Bear Stearns' old headquarters at 383 Madison Avenue. If JPMorgan Chase does not renew their bid, the site would likely be used for a residential or hotel tower, as per Bloomberg's plan prior to JPMorgan Chase's bid. Recently, community and civic leaders met to discuss the site's future with community leaders favoring a hotel or residential development and outgoing deputy mayor Robert Lieber favoring an office tower.
Net capital rule
Bear Stearns was the first CSE Holding Company to collapse. It was "saved" through an "arranged" merger with JP Morgan Chase & Co. ("JP Morgan") announced on March 17, 2008, in connection with which the Federal Reserve Bank of New York ("FRBNY") made a $29 billion loan to a special purpose entity (Maiden Lane LLC) that took ownership of various assets of Bear Stearns with a quoted market value of $30 billion as of March 14, 2008.
Corn Exchange Bank
As late as 1928, photographs show the Corn Exchange had a branch in a building on Grove Street, approximately 50 feet East of 7th Avenue South in Greenwich Village. The building was likely expanded following the bank's merger with Chemical Bank in 1954. The enlarged building's exterior appearance is virtually unchanged since 1954, likely due to New York's Landmark Law, passed in 1965 in response to the mounting losses of historically significant buildings in New York City, most notably the old Pennsylvania Station. The Grove Street building currently houses a Chase Bank branch. Chase Manhattan (Now known as JP Morgan Chase) merged with Chemical Bank in 1995.
JPMorgan Corporate Challenge
The J.P. Morgan Corporate Challenge is an annual series of 3.5-mile (5.63 km) road footraces owned and operated by JPMorgan Chase, with an intended focus on promoting fitness, camaraderie and team work to employees of local businesses and organizations. Teams are organized by company or organization, and the JPMorgan Chase Foundation celebrates the participants by making a donation to local charities.
Palladium Card
JPMorgan Chase introduced the Palladium Card in 2009 to cater to their ultra high net worth clients. "Bloomberg" described the Palladium Card as the "card for the 1% of the 1%". Most J.P. Morgan clients who are invited to carry this card have a minimum of US$10 million in assets under management with J.P. Morgan's Private Bank and a median of US$100 million. The Palladium Card was one of the first U.S. credit cards to adopt EMV smart chip technology. With its brass construction and palladium plating, the card weighs 1 ounce or 28.35 grams, five times the weight of a conventional plastic credit card and twice the weight of the titanium constructed American Express Centurion Card. As of September 2016, the J.P. Morgan Palladium Card has been re-branded the J.P. Morgan Reserve Card, which is physically identical to its predecessor, but now includes a suite of improved benefits and privileges including complimentary airport lounge memberships such as United Club and Priority Pass Select, as well as being branded Visa Infinite.
Salmon P. Chase
The Chase National Bank, a predecessor of Chase Manhattan Bank which is now JPMorgan Chase, was named in his honor, though he had no affiliation with it, financial or otherwise.
JPMorgan Corporate Challenge
The J.P. Morgan Corporate Challenge Series will be marking its 42nd consecutive year of operation in 2018. Through all 42 years, the Corporate Challenge has been owned and operated by J.P. Morgan and its predecessor firms. Manufacturer Hanover was the title owner of the Corporate Challenge from 1977-91. The event was called the Chemical Bank Corporate Challenge from 1992-95, the Chase Corporate Challenge 1996-2000, the JPMorgan Chase Corporate Challenge 2001-10, and by its current name, the J.P. Morgan Corporate Challenge, since 2011.
JPMorgan Chase
In 2006, JPMorgan Chase purchased Collegiate Funding Services, a portfolio company of private equity firm Lightyear Capital, for $663 million. CFS was used as the foundation for the Chase Student Loans, previously known as Chase Education Finance.
Morgan family
J. P. Morgan's legacy was continued by his son of the same name, although his son never became as prominent as his father. Born in 1867, John Pierpont Morgan, Jr. attended Harvard University, class of 1889. Also known as "Jack", he entered the banking industry, like his father, becoming a partner at Drexel, Morgan and Company, Bankers and Brokers of New York City in 1892. He helped in the establishment of J.P. Morgan and Company, which was founded in 1894. Yet, his life marked the decline and fall of the Morgan dynasty. With the passage of the Glass-Steagall Act in 1933, which restricted the merging of investment and commercial banks, came the end of the period of Robber barons and banking dominance. Thus, J. P. Morgan and Company became a commercial bank, and Morgan Stanley an investment bank. Through new legislation, and a growing public resentment against big business, the opportunities for Jack were rare compared to his predecessors. Additionally, Jack suffered from many ailments, such as neuritis, to the point where he had to resign from numerous positions. Lastly, The bankers of the pre-1913 Baronial Age are have said to have been the “lords of creation”, since they catapulted the American economy into an industrial powerhouse of production and power. This unprecedented development became attributed to the Morgan banking style.
Frank Bisignano
In July 2012 he was promoted to co-chief operating officer of JPMorgan Chase, a role he retained until April 28, 2013. As co-COO he was responsible for "overseeing global technology, real estate, operations, procurement, compliance, regulatory control and oversight, resiliency, security and safety, and general services for all of JP Morgan Chase's businesses in over 60 countries." He was also active as a part of JPMorgan Chase's Operating Committee and Executive Committee.
Academy company
JPMorgan Chase
David M. Cote
Cote was a member of the board of directors at JPMorgan Chase and an advisor to Kohlberg Kravis Roberts (KKR). In 2012, Cote came under criticism as one of the three members of JP Morgan Chase's risk committee, after CEO Jamie Dimon said on May 10, 2012 that the firm’s chief investment office suffered a $2 billion loss trading credit derivatives. Commentators identified a lack of relevant expertise among the members of the committee, identifying Cote and a museum official who also served, in particular for their lack of banking experience.
Steven Black (businessman)
Steven "Steve" D. Black is the former Vice-Chairman of JP Morgan Chase & Co.. He previously served as the Co-Chief Executive Officer of JP Morgan, the investment banking subsidiary of JP Morgan Chase. He is a 1974 graduate of Duke University, and has served on the New York Development Council. In October 2009 he was succeeded by Jes Staley.
JPMorgan Chase Building (Houston)
Texas Commerce Bank also owned another history-making skyscraper in downtown Houston, the neighboring 75-story Texas Commerce Tower, completed in 1982, and now known as the JPMorgan Chase Tower.
CCMP Capital
In 2004, JPMorgan Chase completed its acquisition of Bank One which had its own in house private equity investment group, One Equity Partners. One Equity, led by Dick Cashin was ultimately designated as the lead private equity platform for JPMorgan Chase at which point JP Morgan Partners formalized plans to spin out of JPMorgan Chase.
5 World Trade Center
Following JPMorgan Chase's acquisition of Bear Stearns in March 2008, the company announced plans to use Bear Stearns' existing headquarters at 383 Madison Avenue as its new headquarters for J.P. Morgan Investment Bank. The company abandoned plans to occupy a skyscraper at 130 Liberty Street. A proposal to convert the planned office tower into a residential or mixed-use tower was explored instead.
Harriett Baldwin
Baldwin joined the investment bank JP Morgan Chase in 1986, becoming managing director and Head of Currency Management at their London office in 1998. She left the bank in 2008 and served as vice-chair of Social Investment Business between 2008 and 2012.
Recovery of funds from the Madoff investment scandal
Madoff opened a business account at what was then Chemical Bank in 1986. Chemical bought Chase Manhattan in 1996, and the merged bank took the better-known Chase name. Chase merged with JPMorgan to form JPMorgan Chase in 2000, and Madoff retained his account there until his 2008 arrest.
Jamie Dimon
Jamie Dimon (; born March 13, 1956) is an American business executive. He is chairman and CEO of JPMorgan Chase, the largest of the big four American banks, and previously served on the board of directors of the Federal Reserve Bank of New York. Dimon was included in "Time" magazine's 2006, 2008, 2009, and 2011 lists of the world's 100 most influential people. He was also on "Institutional Investor"s lists of best CEOs in the All-America Executive Team surveys from 2008 through 2011.
J.P. Morgan &amp; Co.
On Junius's death in 1890, Pierpont Morgan took his place at J.S. Morgan and Company. After Drexel's death, Drexel, Morgan reorganized in 1895 and became J.P. Morgan and Company, eventually becoming one of the most powerful banking companies in the world and helping to transform the United States from an economic novice into the strongest industrial power in the world at that time. It financed the formation of the United States Steel Corporation, which took over the business of Andrew Carnegie and others and was the world's first billion-dollar corporation. In 1895, it supplied the United States government with $62 million in gold to float a bond issue and restore the treasury surplus of $100 million. In 1892, the company began to finance the New York, New Haven and Hartford Railroad and led it through a series of acquisitions, which made it the dominant railroad transporter in New England.
Built in 1914, 23 Wall Street was known as "The Corner" and "The House of Morgan", and for decades, the bank's headquarters was the most important address in American finance. At noon, on September 16, 1920, an anarchist bomb exploded in front of the bank, killing 38 and injuring 400. Shortly before the bomb went off, an unknown person placed a warning note in a mailbox at the corner of Cedar Street and Broadway. The warning read: "Remember we will not tolerate any longer. Free the political prisoners or it will be sure death for all of you. American Anarchists Fighters." While theories abound about who was behind the Wall Street bombing and why they did it, after twenty years of investigation the FBI rendered the file inactive in 1940 without ever finding the perpetrators.
JPMorgan Chase
At the turn of the nineteenth century, obtaining a bank charter required an act of the state legislature. This of course injected a powerful element of politics into the process and invited what today would be called corruption but then was regarded as business as usual. Hamilton's political enemy—and eventual murderer—Aaron Burr was able to create a bank by sneaking a clause into a charter for a company, called the Manhattan Company, to provide clean water to New York City. The innocuous-looking clause allowed the company to invest surplus capital in any lawful enterprise. Within six months of the company's creation, and long before it had laid a single section of water pipe, the company opened a bank, the Bank of the Manhattan Company. Still in existence, it is today J. P. Morgan Chase, the largest bank in the United States.
George Peabody
Following this crisis, Peabody began to retire from active business, and in 1864, retired fully (taking with him much of his capital, amounting to over $10,000,000, or £2,000,000). Peabody, Morgan & Co. then took the name J.S. Morgan & Co.. The former UK merchant bank Morgan Grenfell (now part of Deutsche Bank), international universal bank JPMorgan Chase and investment bank Morgan Stanley can all trace their roots to Peabody's bank.
Jes Staley
In 1979, after graduation, Staley joined Morgan Guaranty Trust Co. of New York. From 1980 to 1989, he worked in the bank's Latin America division, where he served as head of corporate finance for Brazil and general manager of the company's Brazilian brokerage firm. In the early 1990s, Staley became one of the founding members of J.P. Morgan's equities business and ran the Equity Capital Market and Syndicate groups. In 1999, he became head of the bank's Private Banking division which, under his leadership, improved profitability threefold during two years. In 2001, he was promoted to CEO of J.P. Morgan Asset Management and ran the division until 2009. During his tenure, J.P. Morgan Asset Management's client assets expanded from $605 billion to nearly $1.3 trillion. 
Staley has also been noted for his work on J.P. Morgan's strategic investment in Highbridge Capital Management by being named as one of the twenty hedge fund superstars at J.P. Morgan. His contribution to J.P. Morgan becoming a LGBT friendly company was also recognised. 
In 2009, Staley was promoted to Chief Executive of the Investment Bank. In this position, Staley was responsible for overseeing and coordinating the firm's international efforts across all lines of business.
CCMP Capital
CCMP Capital is an American private equity investment firm that focuses on leveraged buyout and growth capital transactions. Formerly known as JP Morgan Partners, the investment professionals of JP Morgan Partners separated from JPMorgan Chase on July 31, 2006. CCMP has invested approximately $12 billion in leveraged buyout and growth capital transactions since inception. In 2007, CCMP was ranked #17 among World's largest private equity funds.
The House of Morgan
The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance is a non-fiction book by Ron Chernow, published in 1990. It traces the history of four generations of the J.P. Morgan financial empire, on both sides of the Atlantic, from its obscure beginnings in Victorian London to the crash of 1987.
Frank Bisignano
Hired as CAO of JPMorgan Chase in 2005, CEO Jamie Dimon "trusted him with integrating the bank’s purchases of a foundering Bear Stearns Cos. and bankrupt Washington Mutual Inc. during the crisis." Bisignano was also a primary negotiator in JPMorgan's acquisition of the Canary Wharf property in London, and CEO for several of JPMorgan's mortgage banking divisions. In 2012 he was promoted to co-COO, and the "Financial Times" called him "one of [JPMorgan]s most influential, yet least visible, executives."
Peter Hancock (businessman)
Hancock has spent his entire career in financial services, including 20 years at J.P. Morgan, where he founded the Global Derivatives Group in 1991. He left J.P. Morgan in 2000 after serving as both chief financial officer and chief risk officer when the company merged with Chase Manhattan Bank. He then started a financial advisory firm named Trinsum with other J.P. Morgan alumni, before being recruited by KeyCorp during the financial crisis in 2008, where he became vice-chairman.
JPMorgan Chase
The company, known previously as Chase Manhattan International Limited, was founded on September 18, 1968.
CCMP Capital
Among the other notable spinouts from CCMP's predecessor, JPMorgan Partners was Linzor Capital Partners. Linzor, which focuses on private equity investments in Latin America, was founded in 2006 by Tim Purcell, Alfredo Irigoin and Carlos Ingham. In 2000, Tim Purcell and Alfredo Irigoin had founded J.P. Morgan Partners Latin America a leading investor in private equity transactions in Latin America. Prior to the merger of J.P. Morgan and Chase in 2000, Purcell had been responsible for J.P. Morgan Capital’s Latin American private equity portfolio from the mid-1990s.
Chase Bank
On September 25, 2008, JPMorgan Chase bought most banking operations of Washington Mutual from the receivership of the Federal Deposit Insurance Corporation (FDIC). That night, the Office of Thrift Supervision, in what was by far the largest bank failure in American history, seized Washington Mutual Bank and placed it into receivership. The FDIC sold the bank's assets, secured debt obligations and deposits to JPMorgan Chase Bank, NA for $1.888 billion, which re-opened the bank the following day. As a result of the takeover, Washington Mutual shareholders lost all their equity. Through the acquisition, JPMorgan became owner of the former accounts of Providian Financial, a credit card issuer WaMu acquired in 2005. The company completed the rebranding of Washington Mutual branches to Chase in late 2009.
Jerry Colonna (financier)
In 2002, Colonna became a partner with J.P. Morgan Partners (JPMP), the private-equity arm of JP Morgan Chase where he led the firm’s investments in companies such as ProfitLogic. Colonna served as a director at ProfitLogic until its purchase by Oracle.
JPMorgan Chase
The Chase Manhattan Bank was formed upon the 1955 purchase of Chase National Bank (established in 1877) by the Bank of the Manhattan Company (established in 1799), the company's oldest predecessor institution. The Bank of the Manhattan Company was the creation of Aaron Burr, who transformed The Manhattan Company from a water carrier into a bank.
JPMorgan Chase
Bernie Madoff opened a business account at Chemical Bank in 1986 and maintained it until 2008, long after Chemical acquired Chase.
JPMorgan Chase
In December 2017, JP Morgan was sued by the Nigerian government for $875 million, which Nigeria alleges was transferred by JP Morgan to a corrupt former minister. Nigeria accused JP Morgan of being "grossly negligient".
JPMorgan Chase
The New York Chemical Manufacturing Company was founded in 1823 as a maker of various chemicals. In 1824, the company amended its charter to perform banking activities and created the Chemical Bank of New York. After 1851, the bank was separated from its parent and grew organically and through a series of mergers, most notably with Corn Exchange Bank in 1954, Texas Commerce Bank (a large bank in Texas) in 1986, and Manufacturer's Hanover Trust Company in 1991 (the first major bank merger "among equals"). In the 1980s and early 1990s, Chemical emerged as one of the leaders in the financing of leveraged buyout transactions. In 1984, Chemical launched Chemical Venture Partners to invest in private equity transactions alongside various financial sponsors. By the late 1980s, Chemical developed its reputation for financing buyouts, building a syndicated leveraged finance business and related advisory businesses under the auspices of pioneering investment banker, Jimmy Lee. At many points throughout this history, Chemical Bank was the largest bank in the United States (either in terms of assets or deposit market share).
Charles Scharf
Prior to joining Visa in November of 2012, Scharf was the CEO of Retail Financial Services for JPMorgan Chase & Co. for nine years from July 2004 until June of 2012. He was also the managing director of One Equity Partners, JPMorgan's private investment section. He was the CEO and CFO at Bank One Corp. prior to his work at JPMorgan Chase & Co from 2000 to 2002. From 1999 to 2000, he was the CFO of the Global Corporate and Investment Bank division at Citigroup, Inc. From 1995 to 1999 he was the CFO at Salomon Smith Barney. He began his career as Dimon's assistant at Commercial Credit in the late 1980s.
World Trade Center site
Five World Trade Center was designed by Kohn Pedersen Fox and will stand where the Deutsche Bank Building once stood. On June 22, 2007, the Port Authority announced that JP Morgan Chase will lease the 42-story building for its investment banking headquarters; however, JPMorgan's March 2008 acquisition of Bear Stearns had caused construction to stagnate, as the company changed its plans and relocated its headquarters to 383 Madison Avenue. Construction began on September 9, 2011. Although the foundation was completed, construction on the main structure never commenced.
Washington Mutual
This led the Federal Reserve and the Treasury Department to step up pressure for WaMu to find a buyer, as a takeover by the Federal Deposit Insurance Corporation (FDIC) could have been a severe drain on the FDIC insurance fund, which had already been hard hit by the failure of IndyMac that year. The FDIC ultimately held a secret auction of Washington Mutual Bank, which was won by JPMorgan Chase. On the morning of Thursday, September 25 (which happened to be the 119th anniversary of WaMu's establishment), regulators informed officials at JPMorgan Chase that they were the winners.
One Equity Partners
In 2004, JPMorgan Chase completed its acquisition of Bank One. Prior to the merger, JPMorgan had its own in-house private equity investment group, JPMorgan Partners. JPMorgan Partners was significantly larger than One Equity and focused on larger transactions. One Equity, was ultimately designated as the exclusive private equity platform for JPMorgan Chase, at which point JPMorgan Partners formalized plans to spin out of JPMorgan Chase and was renamed CCMP Capital. In 2008, when JPMorgan Chase acquired Bear Stearns' private equity platform, Bear Stearns Merchant Banking, One Equity was once again designated the exclusive private equity arm for the combined firm.
JPMorgan Chase
In December 2002, Chase paid fines totaling $80 million, with the amount split between the states and the federal government. The fines were part of a settlement involving charges that ten banks, including Chase, deceived investors with biased research. The total settlement with the ten banks was $1.4 billion. The settlement required that the banks separate investment banking from research, and ban any allocation of IPO shares.
J.P. Morgan in the United Kingdom
J.P. Morgan Cazenove became a wholly owned part of J.P. Morgan in 2010, having originally operated as a joint venture between J.P. Morgan and the UK investment bank Cazenove. Its three core businesses are corporate finance, cash equities and equity research. It is based in London.
Chemical Bank
Following Chemical's acquisition of Chase in 1996, the bank adopted the venerable Chase brand. What was once Chemical forms the core of today's JPMorgan Chase.
Jeffrey Walker (chief executive)
Jeffrey C. Walker worked from 1984 to 2005 as CEO and co-founder of CCMP Capital, and JPMorgan Partners, JPMorgan Chase & Co's global private equity, vice chairman of JPMorgan Chase & Co. and chairman of the JPMorgan Chase Foundation. He has subsequently been active in many non-profit and education areas, including Harvard University. He is known as a positive advocate for meditation, yoga and related practices. He graduated from University of Virginia and Harvard Business School.
Subprime mortgage crisis
Financial market stresses became apparent during 2007 that resulted in sizable losses across the financial system, the bankruptcy of over 100 mortgage lenders and the emergency sale of investment bank Bear Stearns in March 2008 to depository bank JP Morgan Chase. Some writers began calling the events in the financial markets during this period the "Subprime Mortgage Crisis" or the "Mortgage crisis".
JPMorgan Chase
According to page 115 of "An Empire of Wealth" by John Steele Gordon, the origin of this strand of JPMorgan Chase's history runs as follows:
Naguib Kheraj
Kheraj began his banking career at Salomon Brothers in 1986, and went on to hold a number of senior positions at other international financial institutions. Over the course of 12 years at Barclays, Kheraj served as group finance director and vice-chairman, as well as in various business leadership positions. He was chief executive officer (CEO) of JP Morgan Cazenove, a London-based investment banking business.
Sony Bank
Upon the bank's founding in 2001, Sony owned 80% of the company. By 2005, its stake had risen to 84.2%. When JP Morgan Chase sold its stake, Sony increased its ownership to 87.4%.
Ecosecurities
At the end of 2009 the firm was acquired by JP Morgan and is now an indirect wholly owned subsidiary of JPMorgan Chase and Co. and can provide its clients with access to the scope of services provided by the bank's Environmental Markets business in addition to those activities of sourcing and developing greenhouse gas abatement projects outlined above. Following on from acquisition of EcoSecurities the company appointed Paul Mark Kelly as Chief Executive Officer of the company in December 2009, when the company subsequently delisted from the Alternative Investment Market of the London Stock Exchange.
Cazenove (stock broker)
In November 2004, Cazenove and JPMorgan Chase announced an agreement that JP Morgan would buy a 50% stake in Cazenove and merge their UK investment banking operations, with an option to buy the remaining 50% stake within five years.
JPMorgan Chase
In the 1930s, all of J.P. Morgan & Co. along with all integrated banking businesses in the United States, was required by the provisions of the Glass–Steagall Act to separate its investment banking from its commercial banking operations. J.P. Morgan & Co. chose to operate as a commercial bank, because at the time commercial lending was perceived as more profitable and prestigious. Additionally, many within J.P. Morgan believed that a change in political climate would eventually allow the company to resume its securities businesses but it would be nearly impossible to reconstitute the bank if it were disassembled.
David Rockefeller
In 1946, Rockefeller joined the staff of the longtime family-associated Chase National Bank. The chairman at that time was Rockefeller's uncle Winthrop W. Aldrich. The Chase Bank was primarily a wholesale bank, dealing with other prominent financial institutions and major corporate clients such as General Electric (which had, through its RCA affiliate, leased prominent space and become a crucial first tenant of Rockefeller Center in 1930). The bank also is closely associated with and has financed the oil industry, having longstanding connections with its board of directors to the successor companies of Standard Oil, especially Exxon Mobil. Chase National became the Chase Manhattan Bank in 1955 and shifted significantly into consumer banking. It is now called JPMorgan Chase.
J.P. Morgan &amp; Co.
In 1933, the provisions of the Glass–Steagall Act forced J.P. Morgan & Co. to separate its investment banking from its commercial banking operations. J.P. Morgan & Co. chose to operate as a commercial bank, because after the stock market crash of 1929, investment banking was in some disrepute and commercial lending was perceived to be more the profitable and prestigious business. Also, many within J.P. Morgan believed that a change in the political climate would allow the company to resume its securities businesses but that it would be nearly impossible to reconstitute the bank if it were disassembled.
JPMorgan Chase
A cyber-attack, disclosed in September 2014, compromised the JPMorgan Chase accounts of over 83 million customers. The attack was discovered by the bank's security team in late July 2014, but not completely halted until the middle of August.
JPMorgan Chase
JPMorgan Chase & Co. owns five bank subsidiaries in the United States: JPMorgan Chase Bank, National Association; Chase Bank USA, National Association; Custodial Trust Company; JPMorgan Chase Bank, Dearborn; and J.P. Morgan Bank and Trust Company, National Association.
JPMorgan Chase
JPMorgan Chase was the biggest bank at the end of 2008 as an individual bank (not including subsidiaries). As of 2018, JPMorgan Chase is ranked #20 on the Fortune 500 rankings of the largest United States corporations by total revenue.
JPMorgan Chase
In August 2013, JPMorgan Chase announced that it was being investigated by the United States Department of Justice over its offerings of mortgage-backed securities leading up to the financial crisis of 2007–08. The company said that the Department of Justice had preliminarily concluded that the firm violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during the period 2005 to 2007.
J.P. Morgan &amp; Co.
Also in the 1980s, J.P. Morgan along with other commercial banks pushed the envelope of product offerings toward investment banking, beginning with the issuance of commercial paper. In 1989, the Federal Reserve permitted J.P. Morgan to be the first commercial bank to underwrite a corporate debt offering. In the 1990s, J.P. Morgan moved quickly to rebuild its investment banking operations and by the late 1990s would emerge as a top-five player in securities underwriting.
Morgan family
Junius Spencer (J. S.) Morgan, Joseph III's son, played a prominent role in the banking industry. From a young age, he showed interest in entering the business field like his father. In 1829, at the age of 15, he worked as an apprentice with a merchant, Alfred Welles in Boston. Following that, he worked at a number of firms including:
In 1864, Junius Morgan changed the name of George Peabody and Company to J. S. Morgan and Company. Under his leadership, it became one of the most prominent banking firms in both America and Europe. At the age of 64, J. S. Morgan retired.
NES Financial
In November 2008, JP Morgan Property Exchange (JPEX) from JP Morgan Chase.
Stephen P. Murray
In 1984, Murray became part of the credit analyst training program at Manufacturers Hanover Corporation. In 1989, he joined MH Equity Corporation, which combined Manufacturers Hanover's private equity group with its leveraged finance unit. Manufacturers Hanovers was purchased by Chemical Bank in 1991, and MH Equity merged with Chemical Venture Partners. Chemical Bank merged with Chase Manhattan Corporation in 1996 and Chemical Venture Partners became Chase Capital Partners. In 2005, Murray became head of buyout business at JP Morgan Partners. Murray co-founded CCMP Capital, a spinout of JP Morgan Chase which contained the buyout and growth equity team of its private equity group, in August 2006. In 2007, he was named CEO of CCMP.
JPMorgan Chase
In 2008 and 2009, 14 lawsuits were filed against JPMorgan Chase in various district courts on behalf of Chase credit card holders claiming the bank violated the Truth in Lending Act, breached its contract with the consumers and committed a breach of implied covenant of good faith and fair dealing. The consumers contended that Chase, with little or no notice, increased minimum monthly payments from 2% to 5% on loan balances that were transferred to consumers' credit cards based on the promise of a fixed interest rate. In May 2011, the United States District Court for the Northern District of California certified the class action lawsuit. On July 23, 2012, Chase agreed to pay $100 million to settle the claim.
Chase Bank
In December 2000, the combined Chase Manhattan completed the acquisition of J.P. Morgan & Co. in one of the largest banking mergers to date. The combined company was renamed JPMorgan Chase. In 2004, the bank acquired Bank One, making Chase the largest credit card issuer in the United States. JPMorgan Chase added Bear Stearns & Co. and Washington Mutual to its acquisitions in 2008 and 2009 respectively. After closing nearly 400 overlapping branches of the combined company, less than 10% of its total, Chase will have approximately 5,410 branches in 23 states as of the closing date of the acquisition. According to data from SNL Financial (data as of June 30, 2008), this places Chase third behind Wells Fargo and Bank of America in terms of total U.S. retail bank branches. In October 2010, Chase was named in two lawsuits alleging manipulation of the silver market. The suits allege that by managing giant positions in silver futures and options, the banks influenced the prices of silver on the New York Stock Exchange's Comex Exchange since early 2008.
JPMorgan Chase
In March 2008, JPMorgan acquired the UK-based carbon offsetting company ClimateCare.
Credit default swap
Forms of credit default swaps had been in existence from at least the early 1990s, with early trades carried out by Bankers Trust in 1991. J.P. Morgan & Co. is widely credited with creating the modern credit default swap in 1994. In that instance, J.P. Morgan had extended a $4.8 billion credit line to Exxon, which faced the threat of $5 billion in punitive damages for the Exxon Valdez oil spill. A team of J.P. Morgan bankers led by Blythe Masters then sold the credit risk from the credit line to the European Bank of Reconstruction and Development in order to cut the reserves that J.P. Morgan was required to hold against Exxon's default, thus improving its own balance sheet.
Bear Stearns
The Bear Stearns Companies, Inc. was a New York-based global investment bank, securities trading and brokerage firm that failed in 2008 as part of the global financial crisis and recession, and was subsequently sold to JPMorgan Chase. Its main business areas before its failure were capital markets, investment banking, wealth management, and global clearing services, and it was heavily involved in the subprime mortgage crisis.
JPMorgan Chase
In 1996, Chemical Bank acquired Chase Manhattan. Although Chemical was the nominal survivor, it took the better-known Chase name. To this day, JPMorgan Chase retains Chemical's pre-1996 stock price history, as well as Chemical's former headquarters at 270 Park Avenue.
J.P. Morgan &amp; Co.
By the late 1990s, J.P. Morgan had emerged as a large but not dominant commercial and investment banking franchise with an attractive brand name and a strong presence in debt and equity securities underwriting. Beginning in 1998, J.P. Morgan openly discussed the possibility of a merger, and speculation of a pairing with banks such as Goldman Sachs, Chase Manhattan Bank, Credit Suisse and Deutsche Bank AG was prevalent. Chase Manhattan had emerged as one of the largest and fastest growing commercial banks in the United States through a series of mergers over the previous decade. In 2000, Chase, which was looking for yet another transformational merger to improve its position in investment banking, merged with J.P. Morgan to form JPMorgan Chase & Co. The combined JPMorgan Chase would become one of the largest banks both in the United States and globally offering a full complement of investment banking, commercial banking, retail banking, asset management, private banking and private equity businesses.
Irving Place Capital
Through the intervention of the Federal Reserve and other US Government agencies, Bear Stearns agreed to a sale of the company to JPMorgan Chase on March 24, 2008, which was completed on May 30, 2008. Following the closing of this transaction, Bear Stearns Merchant Banking became a part of JPMorgan Chase.
JPMorgan Chase
Built in 1914, 23 Wall Street was known as the "House of Morgan", and for decades the bank's headquarters was the most important address in American finance. At noon, on September 16, 1920, a terrorist bomb exploded in front of the bank, injuring 400 and killing 38. Shortly before the bomb went off, a warning note was placed in a mailbox at the corner of Cedar Street and Broadway. The warning read: "Remember we will not tolerate any longer. Free the political prisoners or it will be sure death for all of you. American Anarchists Fighters." While there are many hypotheses regarding who was behind the bombing and why they did it, after 20 years of investigation the FBI rendered the case inactive without ever finding the perpetrators.
JPMorgan Chase
On September 18, 2013, JPMorgan Chase agreed to pay a total of $920 million in fines and penalties to American and UK regulators for violations related to the trading loss and other incidents. The fine was part of a multiagency and multinational settlement with the Federal Reserve, Office of the Comptroller of the Currency and the Securities and Exchange Commission in the United States and the Financial Conduct Authority in the UK. The company also admitted breaking American securities law. The fines amounted to the third biggest banking fine levied by US regulators, and the second largest by UK authorities. , two traders face criminal proceedings. It is also the first time in several years that a major American financial institution has publicly admitted breaking the securities laws.
Cazenove (stock broker)
Cazenove was a British stockbroker and investment bank, founded in 1823 by Philip Cazenove. It was one of the UK's last independent investment banks and one of the last to remain a private partnership. The main parts of the business were acquired by JPMorgan Chase in 2009 with the remains being sold to other financial institutions.
JPMorgan Chase
The collection was begun in 1959 by David Rockefeller, and comprises over 30,000 objects, of which over 6,000 are photographic-based, as of 2012 containing more than one hundred works by Middle Eastern and North African artists. The One Chase Manhattan Plaza building was the original location at the start of collection by the Chase Manhattan Bank, the current collection containing both this and also those works that the First National Bank of Chicago had acquired prior to assimilation into the JPMorgan Chase organization. L. K. Erf has been the director of acquisitions of works since 2004 for the bank, whose art program staff is completed by an additional three full-time members and one registrar. The advisory committee at the time of the Rockefeller initiation included A. H. Barr, and D. Miller, and also J. J. Sweeney, R. Hale, P. Rathbone and G. Bunshaft.Jamie Dimon is the Chairman and CEO of JPMorgan Chase. The acquisition deal of Bank One in 2004, was designed in part to recruit Dimon to JPMorgan Chase. He became chief executive at the end of 2005. Dimon has been recognized for his leadership during the 2008 financial crisis. Under his leadership, JPMorgan Chase rescued two ailing banks during the crisis. Although Dimon has publicly criticized the American government's strict immigration policies, as of July 2018, his company has $1.6 million worth of stocks in Sterling Construction (the company contracted to build a massive wall on the U.S.-Mexico border).