JPMorgan Chase & Co. (NYSE: JPM) 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 $53.5 billion in assets as of the end of 2009.[3] It was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.
The J.P. Morgan brand is used by the Investment Bank as well as the Asset Management, Private Banking, Private Wealth Management, and Treasury & Securities Services divisions. Fiduciary activity within Private Banking and Private Wealth Management is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. The CHASE brand is used for credit card services in the United States and Canada, the bank's retail banking activities in the United States, and commercial banking. The corporate headquarters are in New York City and the retail and commercial bank is headquartered in Chicago.[4]
JPMorgan Chase is one of the Big Four banks of the United States with Bank of America, Citigroup and Wells Fargo.[5][6][7][8][9][10]
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| Type | Public |
|---|---|
| Traded as | NYSE: JPM Dow Jones Industrial Average Component |
| Industry | Banking Financial services |
| Founded | New York City, New York (1799) |
| Headquarters | New York City, New York, U.S. |
| Area served | Worldwide |
| Key people | Jamie Dimon (Chairman, President & CEO) |
| Products | Finance and insurance Consumer banking Corporate banking Investment banking Global wealth management Mortgage loans Credit cards |
| Revenue |  US$ 102.694 billion (2010)[1] |
| Operating income | US$ 24.859 billion (2010)[1] |
| Profit | US$ 17.370 billion (2010)[1] |
| AUM | US$ 1.298 trillion (2010)[1] |
| Total assets | US$ 2.118 trillion (2010)[1] |
| Total equity | US$ 176.106 billion (2010)[1] |
| Employees | 239,831 (2010)[1] |
| Website | JPMorganChase.com JPMorgan.com Chase.com |
