JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware.[12] As of

March 31, 2022, 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 of US$3.954 trillion.[5]

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 AmericaCitigroup, and Wells Fargo.[13] JPMorgan Chase is considered to be a universal bank and a custodian bank. T

he J.P. Morgan brand is used by the investment bankingasset managementprivate 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 b

ank and the bank’s corporate headquarters are currently located at 383 Madison Avenue in Midtown ManhattanNew York City, since the prior h

eadquarters building directly across the street, 270 Park Avenue, was demolished and a larger replacement headquarters is being built on the same site.[14] It is considered a systemically important bank by the Financial Stability Board.

The current company was originally known a

s 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.

The House of Morgan was born out of the partnership of Drexel, Morgan & Co., which in 1895 was renamed J.P. Morgan & Co. (see also: J. Pierpont Morgan).[25] J.P. Morgan & Co. 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.[26] In 1895, J.P. Morgan & Co. supplied the United States government with $62 million in gold to float a bond issue and restore the treasury surplus of $100 million.[27] In 1892, the company began to finance the New York, New Haven and Hartford Railroad and led it through a series of acquisitions that made it the dominant railroad transporter in New England.[28]

Built in 1914, 23 Wall Street was the bank’s headquarters for decades. On September 16, 1920, a terrorist bomb exploded in front of the bank, injuring 400 and killing 38.[29] Shortly before the bomb went off, a warning note was placed in a mailbox at the corner of Cedar Street and Broadway. The case has never been solved, and was rendered inactive by the FBI in 1940.[30]

In August 1914, Henry P. Davison, a Morgan partner, 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.[31] The company also invested in the suppliers of war equipment to Britain and France. The company profited from the financing and purchasing activities of the two European governments.[31] Since the U.S. federal government withdrew from world affairs under successive isolationist Republican administrations in the 1920s, J.P. Morgan & Co. continued playing a major role in global affairs since most European countries still owed war debts.[32]

In 2004, JPMorgan Chase merged with Chicago-based Bank One Corp., bringing on board current chairman and CEO Jamie Dimon as president and COO.[35] He succeeded former CEO William B. Harrison, Jr.[36] Dimon introduced new cost-cutting strategies, 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 December 2005 and chairman in December 2006.[37]

Bank One Corporation was formed with the 1998 merger of Banc One of Columbus, Ohio and First Chicago NBD.[38] This merger was considered a failure until Dimon took over and reformed the new firm’s practices. Dimon effected changes to make Bank One Corporation a viable merger partner for JPMorgan Chase.[39]

Bank One Corporation, formerly First Bancgroup of Ohio, was founded as a holding company for City National Bank of Columbus, Ohio, and several other banks in that state, all of which were renamed “Bank One” when the holding company was renamed Banc One Corporation.[40] With the beginning of interstate banking they spread into other states, always renaming acquired banks “Bank One.” After the First Chicago NBD merger, adverse financial results led to the departure of CEO John B. McCoy, whose father and grandfather had headed Banc One and predecessors. JPMorgan Chase completed the acquisition of Bank One in the third quarter of 2004.[40]