JPMorgan Chase


From Wikipedia: http://en.wikipedia.org/wiki/JPMorgan_Chase_%26_Co

JPMorgan Chase & Co.
Type Public
Traded as NYSEJPM
Dow Jones Industrial Average Component
Industry Banking
Financial services
Founded New York City, New York (1799)
Headquarters New York City, New York, U.S.
Area served Worldwide
Key people Jamie Dimon
(Chairman, President & CEO)
Products Finance and insurance
Consumer banking
Corporate banking
Investment banking
Global wealth management
Mortgage loans
Credit cards
Revenue increase US$ 102.694 billion (2010)[1]
Operating income increase US$ 24.859 billion (2010)[1]
Profit increase US$ 17.370 billion (2010)[1]
AUM increase US$ 1.298 trillion (2010)[1]
Total assets increase US$ 2.118 trillion (2010)[1]
Total equity increase US$ 176.106 billion (2010)[1]
Employees 239,831 (2010)[1]
Website JPMorganChase.com
JPMorgan.com
Chase.com

JPMorgan Chase & Co. (NYSEJPM) is an American global securities, investment banking and retail banking firm. It is a major provider of financial services, with assets of $2 trillion, and is the U.S. banking institution having the second largest market capitalization[2] and third largest domestic deposit base (behind Wells Fargo and Bank of America). The hedge fund unit of JPMorgan Chase is the largest hedge fund in the United States with $53.5 billion in assets as of the end of 2009.[3] It was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.

The J.P. Morgan brand is used by the Investment Bank as well as the 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. The corporate headquarters are in New York City and the retail and commercial bank is headquartered in Chicago.[4]

JPMorgan Chase is one of the Big Four banks of the United States with Bank of America, Citigroup and Wells Fargo.[5][6][7][8][9][10]

Business

The current J.P.Morgan logo used for the company's Investment Banking, Asset Management, and Treasury & Securities Services units, as of June 2008.[11]

JPMorgan Chase’s activities are organized, for management reporting purposes, into six business segments:[12]

  • Investment Bank
  • Retail Financial Services
    • Retail banking: Consumer and business banking (including Business Banking Loans);
    • Consumer Lending: Loan originations and balances (including home lending, student, auto and other loans); Mortgage production and servicing;
  • Card Services
    • Credit cards
    • Merchant acquiring
  • Commercial Banking
    • Middle-market banking
    • Commercial term lending
    • Mid-corporate banking
    • Real estate banking
  • Treasury & Securities Services
    • Treasury Services (Global Trade, Core Cash Management, Liquidity, Import/Export Advisory)
    • Worldwide Securities Services
  • Asset Management
    • Highbridge Capital Management (HCM)[13]
    • Investment Management (including Institutional and Retail)
    • Private Bank
    • Private Wealth Management
    • J.P. Morgan Securities (formerly Bear Stearns Brokerage)
    • Retirement Plan Services
  • Corporate - Includes the company's private equity; One Equity Partners, Treasury and Corporate functions.
Key financial data
Financial data in $ millions
Year 2004[14] 2005[14] 2006[14] 2007[15] 2008[16] 2009
Revenue 43,097 54,533 61,437 71,372 67,252 100,434
EBITDA 7,140 13,740 22,218      
Net Income 4,466 8,483 14,444 15,365 5,605 11,728
Employees 160,968 168,847 174,360 180,667 224,961 222,316

[17] JPMorgan Chase was the biggest bank at the end of 2008 as an individual bank. (not including subsidiaries)

History

JPMorgan Chase logo, prior to the 2008 rebranding

JPMorgan Chase, in its current structure, is the result of the combination of several large U.S. banking companies over the last decade including Chase Manhattan Bank, J.P. Morgan & Co., Bank One, Bear Stearns and Washington Mutual. Going back further, its predecessors include major banking firms among which are Chemical Bank, Manufacturers Hanover, First Chicago Bank, National Bank of Detroit, Texas Commerce Bank, Providian Financial and Great Western Bank.

Continue reading 04.28.2011. 13:20

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