ipl-logo

History Of Jpmorgan Chase

691 Words3 Pages

JPMorgan Chase
First glance: Founded in 2000 (predecessor Bank of Manhattan Company, which was established in 1799). JPMorgan Chase is the result of the merger of several banks, including Chase Manhattan Bank, JPMorgan & Co., Bank One, Bear Stearns, and Washington Mutual since 1996. HQ: New York. Revenue: $95.66 billion. Net income: $24.73 billion. Employees: 243,355 (2016 figures).
Services: The operations of JPMorgan Chase include investment banking, asset management, private banking, commercial banking, treasuries and securities services, M&A deals, underwriting, and venture capital.
Work culture: The halls of JPMorgan accommodate the best brains of the investment banking industry. The work atmosphere is demanding, but the bank provides …show more content…

The corporate settlement, which was the largest ever then, did not cover criminal charges. In 2002, Chase paid fines of $80 million to settle charges that the bank deceived investors with biased research.
Tidbits: J. P. Morgan followed his father into the banking business in 1857. “Morganization” became popular as Morgan took over loss-making companies and put them on the road to recovery. JPMorgan Chase and Co. is the largest bank in the US and the sixth largest in the world by total assets ($2.5 trillion). CEO and Chairman James Dimon, who is already the longest serving Wall Street CEO, is to stay on for five more years, the New York Times reported in January …show more content…

Although it may not provide the same level of salaries as its giant counterparts, the teamwork and work ethics are often adequate compensation.
Crisis: In 2015, Morgan Stanley fired one of its financial advisors for allegedly posting information about 350,000 of its wealth management clients on a website. The Wall Street called the incident “potentially the largest data theft at a wealth management firm.”
Tidbits: Here’s a heartwarming story from 9/11: As Morgan Stanley Security Director at the Twin Towers, Cyril Richard Rescorla anticipated the attacks and evacuated all but 13 of the bank’s 2,700 employees in the towers. He died while leading evacuees out from the South Tower.
UBS
First glance: Founded in 1862. Originally “Union Bank of Switzerland,” the abbreviation ceased to be representational with the merger of UBS and the Swiss Bank Corporation in 1998. HQ: Zurich. Operating income: $30.41 billion. Employees: 59,387 (2016

Show More
Related

Jp Morgan Chase Bank Essay

923 Words | 4 Pages

JPMorgan Chase is a powerhouse bank with an impressive portfolio. Ranked 5th largest in the world by assets and is largest bank by market cap, making it a truly formidable financial

Read More

Jp Morgan Was The Most Influential Man In The 1800s-Early 1900's

1270 Words | 6 Pages

Napoleon of Wall Street J.P. Morgan was the most influential person in mid 1800 - early 1900s. He became the most powerful man in america who was only challenged by Andrew Carnegie and J.D. Rockefeller, together these men are worth 1 trillion dollars in today’s money - that's more than the top 40% combined wealth today. Morgan saved the US government twice - really he saved American business twice. He took the over expanded railroad and made it profitable, took Edison’s D.C. current and Tessa’s A.C. current combining them into General Electric lighting homes across America, bought Andrew Carnegie's steel business making into US Steel hoisting the company profit to 1 billion - for the first time in American history. J. Pierpont Morgan was

Read More

How Successful Was J. P. Morgan A Robber Baron?

682 Words | 3 Pages

Morgan also did not pay his employees like they should have been paid. Finally, Morgan treated his employees as if they were inferior to him. While many people could use this evidence to say that Morgan was a Robber Baron, I believe that the good outweighs the bad that Morgan did in his

Read More

Impact Of John Pierpoint Morgan

775 Words | 4 Pages

Using his excess of wealth John Pierpoint Morgan, a successful banker and owner of U.S. Steel, helped the economy, revolutionized the steel industry and to a few favored causes was a generous philanthropist. Junius Spencer Morgan, father of John Pierpoint Morgan was a successful international banker who would leave behind a large fortune to his son. John Pierpoint Morgan would follow in his father’s footsteps and become a successful banker. John Pierpoint Morgan was the owner of U.S. Steel, the world's first billion dollar corporation. John Pierpoint Morgan used his monetary influence in many ways that affected America, he helped pull the economy out of collapse in 1907, became a philanthropist to a few favored causes and would later become

Read More

Why Is Jp Morgan Important

1135 Words | 5 Pages

Besides General Electric and AT&T, J.P. Morgan was also heavily involved in the creation of U.S. Steel (“Key Moments In J.P. Morgan History”). Andrew Carnegie had created Carnegie steel in Pittsburgh. Elbert H. Gary founded Federal Steel Company, a rival to Carnegie Steel, in Chicago. Along with companies like National Steel, National Tube, American Steel and Wire, American Steel Hoop, American Sheet Steel, American Tinplate, and many more, Morgan helped create a steel supergiant (“United States Steel Corporation”). Thirty-three companies were merged under U.S. Steel to create the first billion dollar company in American history.

Read More

The Organizational Structure Of Bank Of America

850 Words | 4 Pages

Organizational Structure Bank of America is an American financial services corporation and is the second largest bank holding organization by assets, in the United States. The headquarter of the financial organization is situated in Charlotte, North Carolina. The bank has approximately 5,700 retail banking offices and 17,250 ATMs in the United States. The online banking system of the bank has more than 30 million active users.

Read More

The Colonial Bank: Financial Fraud Case

813 Words | 4 Pages

Colonial Bank was one of the 25 largest banks in the United States and TBW was one of the largest privately-held mortgage lending companies in the United States in 2009. Taylor, Bean & Whitaker

Read More

Jp Morgan Chase History

618 Words | 3 Pages

The firm is a leader in investment banking; financial services for consumers, small business and commercial banking; financial transaction processing; asset management; and private equity. A component of the Dow Jones Industrial Average, JP Morgan Chase & Co. serves millions of consumers in the United States and many of the worlds most prominent corporate, institutional and government clients.

Read More

Jp Morgan Chase Bank Fraud Essay

709 Words | 3 Pages

The official later worked closely with JPMorgan on making their company, The China Railway Group, public. Together, they raised 5 billion dollars once the company was

Read More

In Citi Shake-Up, Broader Troubles, By Robin Sidel

429 Words | 2 Pages

The Wall Street Journal’s Robin Sidel wrote his 2007 article “In Citi Shake-Up, Broader Troubles,” without knowledge of the financial crisis that would begin within a year. His article centers on the turmoil found in Citigroup and the resignation of its CEO, Charles Prince. Around the beginning of the new millennium, Citigroup underwent a transformation into one of the largest banks in the world. Relentless acquisitions allowed Citigroup to have a strong presence in virtually every area of finance, from insurance to banking to stockbroking. By the time the article was published, Citigroup had assets of $2.35 trillion.

Read More

Federal Reserve Growth Essay

653 Words | 3 Pages

America’s largest bank JP Morgan Chase has grown from $1.3 trillion in assets to almost $2 trillion today. Has this growth benefit the American public? No. Consumer confidence is currently at a 15 month low. The Consumer Price Index is also at year lows as well.

Read More

History Of Bank Of Montreal

286 Words | 2 Pages

In 1817, the Montreal Bank became Canada’s first bank. Bank of Montreal was established with no official charter and almost half of its initial capital came from America investors. Five years later, in 1822 it was ranked a charter as the official Bank of Montreal. In 2017, it is ranked globally as the 57th largest bank with assets over $581 billion USD. Bank of Montreal is known as one of the prestigious “big five banks.”

Read More

Wells Fargo: Organizational Strategy And Objectives

850 Words | 4 Pages

Organizational Strategy and Objectives The foundation of Wells Fargo’s strategy is its focus on customers. The company’s strategy tends to drive the choices they make and also enable them to prioritize its efforts, differential from peers, and build a lasting value for customers, employees, communities, and shareholders. The diversified business model tends to provide the company with the stability and the strength as it assures communities and customers that it exists to serve them and also the future generations. The objectives of the company are to be the leader in financial services in areas of team member engagement, customer services and advice, shareholder value, innovation, corporate citizenship, and risk management (Wells Fargo n.d).

Read More

Bank Of America History

584 Words | 3 Pages

I. Brief company history – about one page. Bank of America, headquartered in Charlotte, North Carolina, is an American multinational banking and financial services corporation (Statista). In 1904, the bank was founded as Bank of Italy on October 17 by Mr. Amadeo Pietro Giannini in San Francisco (Anderson, 2011). During this time the majority of local banks only focused on providing services to wealthy Americans (Anderson, 2011), refusing to serve immigrants, middle-class Americans and farmers (ONeil, 2016). Seeing an opportunity Mr. Giannini decided to establish a bank to serve those people, especially Italian Americans immigrants (Anderson, 2011).

Read More

John D Rockefeller Was The American Dream

1497 Words | 6 Pages

Rockefeller. In that year they were found in violations of the Sherman Antitrust Act and ordered to dissolve the company as well as the trust that Rockefeller had set up. In his later years Rockefeller was known more for his charitable contributions more than his cutthroat business tactics that made him one of the richest businessman in modern time.

Read More

More about History Of Jpmorgan Chase

Related Topics

Open Document