& co. for main subsidiaries see chase bank and j.p. morgan & co. jpmorgan chase & co. type public traded as nyse jpm dow jones industrial average component s & p 500 component industry banking financial services predecessor bank of the manhattan company founded september 1 1799 ; 217 years ago 1799 09 01 founded december 1 2000 ; 15 years ago 2000 12 01 headquarters 270 park avenue new york ny 10017 u.s. area served worldwide key people jamie dimon chairman ceo & president 1 2 marianne lake cfo products asset management brokerage services commercial banking commodities commodity trading consumer banking corporate banking credit cards consumer finance equities trading finance and insurance foreign currency exchange foreign exchange trading futures and options trading global banking global wealth management insurance investment banking investment management money market trading mortgage loans prime brokerage private banking private equity retail banking retail brokerage risk management treasury and security services underwriting wealth management revenue us 96.60 billion 2015 3 operating income us 30.70 billion 2015 3 net income us 24.44 billion 2015 3 total assets us 2.424 trillion 2016 4 total equity us 247.5 billion 2015 3 number of employees 235 678 2015 3 divisions j.p. morgan asset management subsidiaries chase j.p. morgan & co. j.p. morgan cazenove one equity partners capital ratio 11.6 % 2015 3 website www.jpmorganchase.com the jpmorgan chase & co. headquarters at 270 park avenue in midtown manhattan new york city u.s. jpmorgan chase & co. is a multinational banking and financial services holding company headquartered in new york city . it is the largest bank in the united states the world s sixth largest bank by total assets with total assets of us 2.35 trillion and the world s most valuable bank by market capitalization . 5 it is a major provider of financial services and according to forbes magazine is the world s sixth largest public company based upon a composite ranking . 6 the hedge fund unit of jpmorgan chase is the second largest hedge fund in the united states . 7 the company was formed in 2000 when chase manhattan corporation merged with j.p. morgan & co. 8 the j.p. morgan brand historically known as morgan is used by the investment banking 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 is located at 270 park avenue in midtown manhattan new york city . the retail and commercial bank is headquartered in chase tower chicago loop chicago illinois u.s. 8 jpmorgan chase & co. is considered to be a universal bank . jpmorgan chase is one of the big four banks of the united states along with bank of america citigroup and wells fargo . 9 10 11 12 13 14 according to bloomberg as of october 2011 jpmorgan chase had surpassed bank of america as the largest u.s. bank by assets . 15 contents 1 history 1.1 chemical banking corporation 1.2 chase manhattan bank 1.3 j.p. morgan & company 1.4 bank one corporation 1.5 bear stearns 1.6 washington mutual 1.7 2013 settlement 1.8 other recent acquisitions 1.9 acquisition history 1.10 recent news 2 structure 2.1 jpmorgan europe ltd. 3 financial data 4 operations 4.1 history 5 lobbying 6 controversies 6.1 conflicts of interest on investment research 6.2 enron 6.3 worldcom 6.4 jefferson county alabama 6.5 failure to comply with client money rules in the uk 6.6 mortgage overcharge of active military personnel 6.7 truth in lending act litigation 6.8 alleged manipulation of energy market 6.9 criminal investigation into obstruction of justice 6.10 sanctions violations 6.11 national mortgage settlement 6.12 speculative trading 6.13 mortgage backed securities sales 6.14 sons and daughters hiring program 6.15 madoff fraud 6.16 corruption investigation in asia 6.17 september 2014 cyber attack 7 offices 8 credit derivatives 8.1 multibillion dollar trading loss 9 art collection 10 major sponsorships 11 notable former employees 11.1 business 11.2 politics and public service 11.3 other 12 awards 13 see also 13.1 index products 14 references 15 external links history edit the jpmorgan chase logo prior to the 2008 rebranding as of june 2008 the jpmorgan logo used for the company s investment banking asset management and treasury & securities services units . 16 jpmorgan chase in its current structure is the result of the combination of several large u.s. banking companies since 1996 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 . its original predecessor the bank of the manhattan company was the second oldest banking corporation in the united states and the 31st oldest bank in the world having been established on september 1 1799 by aaron burr . 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 advisory businesses under the auspices of pioneering investment banker jimmy lee . 17 18 at many points throughout this history chemical bank was the largest bank in the united states either in terms of assets or deposit market share . in 1996 chemical bank acquired chase manhattan . although chemical was the nominal survivor it took the better known chase name . to this day jpmorgan chase retains chemical s pre 1996 stock price history as well as chemical s former headquarters at 270 park avenue . 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 19 the company s oldest predecessor institution . the bank of the manhattan company was the creation of aaron burr who transformed the manhattan company from a water carrier into a bank . 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 create a bank by sneaking a clause into a charter for a company called the manhattan company to provide clean water to new york city . the innocuous looking clause allowed the company to invest surplus capital in any lawful enterprise . within six months of the company s creation and long before it had laid a single section of water pipe the company opened a bank the bank of the manhattan company . still in existence it is today j. p. morgan chase the largest bank in the united states . led by david rockefeller during the 1970s and 1980s chase manhattan emerged as one of the largest and most prestigious banking concerns with leadership positions in syndicated lending treasury and securities services credit cards mortgages and retail financial services . weakened by the real estate collapse in the early 1990s it was acquired by chemical bank in 1996 retaining the chase name . before its merger with j.p. morgan & co. the new chase expanded the investment and asset management groups through two acquisitions . in 1999 it acquired san francisco based hambrecht & quist for 1.35 billion . in april 2000 uk based robert fleming & co. was purchased by the new chase manhattan bank for 7.7 billion . 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 and injured over 400 the heritage of the house of morgan traces its roots to the partnership of drexel morgan & co. which in 1895 was renamed j.p. morgan & co. see also j. pierpont morgan . arguably the most influential financial institution of its era 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 . 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 . 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 . built in 1914 23 wall street was known as the house of morgan and for decades the bank s headquarters was the most important address in american finance . at noon on september 16 1920 a terrorist bomb exploded in front of the bank injuring 400 and killing 38 . shortly before the bomb went off a warning note was placed in a mailbox at the corner of cedar street and broadway . the warning read remember we will not tolerate any longer . free the political prisoners or it will be sure death for all of you . american anarchists fighters . while there are many hypotheses regarding who was behind the bombing and why they did it after 20 years of investigation the fbi rendered the case inactive without ever finding the perpetrators . in august 1914 henry p. davison a morgan partner traveled to the uk and 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 . the company also invested in the suppliers of war equipment to britain and france . thus the company profited from the financing and purchasing activities of the two european governments . in the 1930s all of j.p. morgan & co. along with all integrated banking businesses in the united states was required by the provisions of the glass steagall act to separate its investment banking from its commercial banking operations . j.p. morgan & co. chose to operate as a commercial bank because at the time commercial lending was perceived as more profitable and prestigious . additionally many within j.p. morgan believed that a change in political climate would eventually allow the company to resume its securities businesses but it would be nearly impossible