Jp Morgan Chase

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Case Study 4 Milton I Zamora FIN 530-Bank Management California Intercontinental University I. Historical Development of Bank JP Morgan Chase (2008), JP Morgan Chase & Co. is one of the oldest and largest financial institutions. In 1799, it was founded in New York. JP Morgan operates in 50 countries. It is built on the foundation of more than 1,000 predecessor institutions that have come together to form today’s company (p.1). In May 1933, JP “Jack” Morgan Jr. as well as several Morgan partners and other executives testified at hearings held by the Senate Committee on banking and currency, they are investigating the cause of the 1929 stock market crash and the banking crisis. JP Morgan & Co. was the first private bank investigated and Jack Morgan is the witness. Jack Morgan emphasized with dignity and duties and ethics of the private banker upheld by three generations (p.11). In 1991, Chemical Banking Corporation merged with Manufacturers Hanover Corporation, the second largest banking institution in the United States. In 1995, First Chicago Corporation merged with NBD Bancorp Inc. the largest banking company in Midwest. 1n 1996, Chemical Banking Corp. merged with The Chase Manhattan Corp. they keep the name of The Chase Manhattan Corp. and the largest bank holding company in the United States. In 2000, The Chase Manhattan Corp. merged with JP Morgan & Co. Inc. four largest and oldest money center banking are combined in New York City into one firm called JP Morgan Chase & Co. In 2008, JP Morgan Chase acquired The Bear Stearns Companies Inc. that strengthened its capabilities across wide range of business (p.19). Today, JP Morgan Chase & Co. has six major businesses and that is investment bank, retail financial services, card services, commercial banking, treasury and securities services and asset management (p.20). II. TARP

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