Bessemer

Bear Stearns [ edit ] Main article:  Bear Stearns The Bear Stearns logo At the end of 2007,  Bear Stearns  was the fifth largest investment bank in the United States but its  market capitalization  had deteriorated through the second half of the year. [47]  On Friday, March 14, 2008, Bear Stearns lost 47% of its equity market value as rumors emerged that clients were withdrawing capital from the bank. Over the following weekend, it emerged that Bear Stearns might prove  insolvent , and on March 15, 2008, the Federal Reserve engineered a deal to prevent a wider systemic crisis from the collapse of Bear Stearns. [48] On March 16, 2008, after a weekend of intense negotiations between JPMorgan, Bear, and the federal government, JPMorgan Chase announced its plans to acquire Bear Stearns in a  stock swap  worth $2.00 per share or $240 million pending shareholder approval scheduled within 90 days. [48]  In the interim, JPMorgan Chase agreed to guarantee all Bear Stearns trades and business pr...

Bank One Corporation [ edit ] Main article:  Bank One Corporation Logo of Bank One In 2004, JPMorgan Chase merged with Chicago-based  Bank One Corp. , bringing on board current chairman and CEO  Jamie Dimon  as president and COO. [41]  He succeeded former CEO  William B. Harrison, Jr. [42]  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. [43]   Bank One Corporation  was formed with the 1998 merger of Banc One of  Columbus, Ohio  and  First Chicago NBD . [44]  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. [45] Bank One Corporation, formerly First Bancgroup of Ohio, was founded as a holding company for City National Bank of Columbus, Ohio, and se...

J.P. Morgan & Company [ edit ] Main article:  J.P. Morgan & Co. The J.P. Morgan & Co. logo before its merger with Chase Manhattan Bank in 2000 Influence of J.P. Morgan in Large Corporations, 1914 The J.P. Morgan headquarters in New York City following the September 16, 1920, bomb explosion that took the lives of 38 people and injured over 400 more 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 ). [20]  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. [21]  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. [22]  In 1892, the company began to finance the  New York, New Haven and Hartford R...

Chemical Banking Corporation [ edit ] Main article:  Chemical Bank The New York Chemical Manufacturing Company was founded in 1823 as a maker of various chemicals. In 1824, the company amended its  charter  to perform banking activities and created the  Chemical Bank of New York . After 1851, the bank was separated from its parent and grew organically and through a series of mergers, most notably with  Corn Exchange Bank  in 1954,  Texas Commerce Bank  (a large bank in Texas) in 1986, and  Manufacturer's Hanover Trust Company  in 1991 (the first major bank merger "among equals"). In the 1980s and early 1990s, Chemical emerged as one of the leaders in the financing of  leveraged buyout  transactions. In 1984, Chemical launched  Chemical Venture Partners  to invest in  private equity  transactions alongside various  financial sponsors . By the late 1980s, Chemical developed its reputation for financing buyouts, building a  syndicated leveraged finance  business and related ...

Chase Manhattan Bank [ edit ] Main article:  Chase Manhattan Bank The logo used by Chase following the merger with the Manhattan Bank in 1954 The Chase Manhattan Bank was formed upon the 1955 purchase of  Chase National Bank  (established in 1877) by The Bank of the Manhattan Company (established in 1799), [12]  the company's oldest predecessor institution. The Bank of the Manhattan Company was the creation of Aaron Burr, who transformed the company from a water carrier into a bank. [13] According to page 115 of  An Empire of Wealth  by  John Steele Gordon , the origin of this strand of JPMorgan Chase's history runs as follows: At the turn of the nineteenth century, obtaining a bank charter required an act of the  state legislature . This of course injected a powerful element of politics into the process and invited what today would be called corruption but then was regarded as business as usual.  Hamilton 's political enemy—and eventual murderer—Aaron Burr was able to crea...

This article is about the current company. For its predecessor, see  J.P. Morgan & Co.  For its subsidiary, see  Chase Bank . For other uses, see  J. P. Morgan (disambiguation) . JPMorgan Chase & Co. Type Public company Traded as NYSE :  JPM DJIA  component S&P 100  component S&P 500  component ISIN US46625H1005 Industry Financial services Predecessors The Bank of the Manhattan Company  (since 1799) Chemical Bank  (since 1824) J.P. Morgan & Co.  (since 1871) Chase National Bank  (since 1877) Founded December 1, 2000 ; 22 years ago Founders Aaron Burr (The Bank of the Manhattan Company) Balthazar P. Melick (Chemical Bank) John Pierpont Morgan (J.P. Morgan & Co.) John Thompson (Chase National Bank) Headquarters 383 Madison Avenue New York City , U.S. Area served Worldwide Key people Jamie Dimon ( Chairman  &  CEO ) Daniel E. Pinto ( President  &  COO ) Products Asset management banking commodities credit cards equities trading insurance investment manageme...