chicago and chase manhattan bank building . jpmorgan chase bank n.a. current logo since 2007 . view of the chase tower in chicago illinois type subsidiary of jpmorgan chase industry banking predecessor bank of the manhattan company founded on september 1 1799 ; 217 years ago 1799 09 01 founded december 1 2000 ; 15 years ago 2000 12 01 headquarters mccoy building columbus ohio citation needed key people william c. weldon chairman 1 products financial services revenue us 71.651 billion 2014 net income us 14.778 billion 2014 total assets us 2.6 trillion 2014 number of employees 265 359 2014 parent jpmorgan chase divisions retail financial services card services commercial banking website chase.com chase branches in the u.s. in 2010 jp morgan chase bank n.a. doing business as chase bank is a national bank that constitutes the consumer and commercial banking subsidiary of the multinational banking corporation jp morgan chase . the bank was known as chase manhattan bank until it merged with j.p. morgan & co. in 2000 . 2 chase manhattan bank was formed by the merger of the chase national bank and the bank of the manhattan company in 1955 . 3 the bank is headquartered in columbus ohio since its merger with bank one corporation in 2004 . 4 not in citation given in 2008 the bank acquired the deposits and most assets of washington mutual . chase offers more than 5 100 branches and 16 100 atm s nationwide . jp morgan chase has 265 359 employees as of 2014 and operates in more than 100 countries . jp morgan chase currently has assets of approximately us 2.6 trillion . jp morgan chase through its chase subsidiary is one of the big four banks of the united states . 5 6 contents 1 history 1.1 the manhattan company 1.2 chase national bank 1.3 merger as chase manhattan bank 1.4 mergers with chemical j.p. morgan 1.5 bank one corporation 1.6 washington mutual 1.7 other recent acquisitions 2 controversies 2.1 purchase of nazi germany s reichsmarks during wwii 2.2 release of funds for nazi germany during wwii 2.3 refusal to release funds belonging to jews in occupied france 2.4 recent controversies 2.4.1 targeted account closures 3 references 4 further reading 5 external links history edit aaron burr 3rd vice president of the united states and founder of the manhattan company . john d. rockefeller jr. and the rockefeller family were the largest shareholders of chase national bank . from september 1 1799 to 1955 it was called the bank of the manhattan company new york ; after a 1955 merger with the chase national bank which existed separately from 1877 to 1954 it was called the chase manhattan bank . 7 chase s southwest regional headquarters in phoenix arizona . the manhattan company edit main article bank of the manhattan company chase traces its history back to the founding of the manhattan company by aaron burr on september 1 1799 in a house at 40 wall street 2 after an epidemic of yellow fever in 1798 during which coffins had been sold by itinerant vendors on street corners aaron burr established the manhattan company with the ostensible aim of bringing clean water to the city from the bronx river but in fact designed as a front for the creation of new york s second bank rivaling alexander hamilton s bank of new york . the economist 8 over two centuries after burr and hamilton s now infamous duel that claimed hamilton s life it can be said that the bank of the manhattan company ultimately won the business side of the rivalry . in 2006 the modern day chase bought the retail banking division of the bank of new york which then only months later merged with pittsburgh based mellon financial to form the present day bny mellon . chase national bank edit chase national bank was formed in 1877 by john thompson . 2 it was named after former united states treasury secretary and chief justice salmon p. chase 3 although chase did not have a connection with the bank . 2 the chase national bank acquired a number of smaller banks in the 1920s through its chase securities corporation . in 1926 for instance it acquired mechanics and metals national bank . specimen stock certificate however its most significant acquisition was the equitable trust company of new york in 1930 the largest stockholder of which was john d. rockefeller jr. 9 this made chase the largest bank in america and indeed in the world . chase was primarily a wholesale bank dealing with other prominent financial institutions and major corporate clients such as general electric which had through its rca subsidiary leased prominent space and become a crucial first tenant of rockefeller center rescuing that major project in 1930 . the bank is also closely associated with and has financed the oil industry having longstanding connections with its board of directors to the successor companies of standard oil especially exxonmobil which are also rockefeller holdings . merger as chase manhattan bank edit the september 1 1799 1877 logo the 1877 1954 logo the 1954 1960 logo the 1960 1976 logo in 1955 chase national bank and the manhattan company merged to create the chase manhattan bank . 2 as chase was a much larger bank it was first intended that chase acquire the bank of manhattan as it was nicknamed but it transpired that burr s original charter for the manhattan company had not only included the clause allowing it to start a bank with surplus funds but another requiring unanimous consent of shareholders for the bank to be taken over . the deal was therefore structured as an acquisition by the bank of the manhattan company of chase national with john j. mccloy becoming chairman of the merged entity . this avoided the need for unanimous consent by shareholders . for chase manhattan bank s new logo chermayeff & geismar designed a stylized octagon in 1961 which remains part of the bank s logo today . 10 the chase logo is a stylized representation of the primitive water pipes laid by the manhattan company which were made by nailing together wooden planks . 11 the bank included an asset management business called the chase investors management corporation . under mccloy s successor george champion the bank relinquished its antiquated 1799 state charter for a modern one . in 1969 under the leadership of david rockefeller the bank became part of a bank holding company the chase manhattan corporation . 3 mergers with chemical j.p. morgan edit the 1976 2007 logo in july 1996 chemical bank of new york purchased chase manhattan bank . chemical s previous acquisitions included manufacturers hanover corporation in 1991 and texas commerce bank in 1987 . although chemical was the nominal survivor the merged company retained the chase name since it was better known particularly outside the united states . in december 2000 the combined chase manhattan completed the acquisition of j.p. morgan & co. in one of the largest banking mergers to date . the combined company was renamed jp morgan chase . in 2004 the bank acquired bank one making chase the largest credit card issuer in the united states . jpmorgan chase added bear stearns & co. and washington mutual to its acquisitions in 2009 . after closing nearly 400 overlapping branches of the combined company less than 10 % of its total chase will have approximately 5 410 branches in 23 states as of the closing date of the acquisition . 12 13 according to data from snl financial data as of june 30 2008 this places chase third behind wells fargo and bank of america in terms of total u.s. retail bank branches . in october 2010 chase was named in two lawsuits alleging manipulation of the silver market . 14 the suits allege that by managing giant positions in silver futures and options the banks influenced the prices of silver on the new york stock exchange s comex exchange since early 2008 . chase branch located in athens ohio chase bank in chinatown manhattan chase offices and branch in one utah center tower in salt lake city the following is an illustration of the company s major mergers and acquisitions and historical predecessors to 1995 this is not a comprehensive list chase manhattan bank merged 1995 chemical bank merged 1991 chemical bank merged 1986 the chemical bank of new york est. 1823 texas commerce bank formerly texas national bank of commerce merged 1864 manufacturers hanover merged 1961 manufacturers trust company est. 1905 hanover bank est. 1873 chase manhattan bank merged 1955 bank of the manhattan company est. 1799 chase national bank of the city of new york est. 1877 bank one corporation edit main article bank one corporation in 2004 jpmorgan chase merged with chicago based bank one corp. bringing on board its current chairman and ceo jamie dimon as president and coo and designating him as ceo william b. harrison jr. s successor . dimon s pay was pegged at 90 % of harrison s. dimon quickly made his influence felt by embarking on a cost cutting strategy 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 january 2006 and chairman in december 2006 after harrison s resignation . bank one corporation was formed upon the 1998 merger between banc one of columbus ohio and first chicago nbd . these two large banking companies were themselves created through the merger of many banks . jpmorgan chase completed the acquisition of bank one in q3 2004 . the merger between bank one and jpmorgan chase meant that corporate headquarters were now in new york city while the retail bank operations of chase were consolidated in chicago . 15 not in citation given the following is an illustration of bank one s major mergers and acquisitions and historical predecessors this is not a comprehensive list bank one merged 1998 banc one corp merged 1968 city national bank & trust company columbus ohio farmers saving & trust company first chicago nbd merged 1995 first chicago corp est. 1863 nbd bancorp formerly national bank of detroit est. 1933 louisiana s first commerce corp. washington mutual edit main article washington mutual on september 25 2008 jpmorgan chase bought most banking operations of washington mutual from the receivership of the federal deposit insurance corporation fdic . that night the office of thrift supervision in what was by far the largest bank failure in american history seized washington mutual bank and placed it into receivership . the fdic sold the bank s assets secured debt obligations and deposits to jpmorgan chase bank na for 1.888 billion which re opened the bank the following day . as a result of the takeover washington mutual shareholders lost all their equity . 16 through the acquisition jpmorgan became owner of the former accounts of providian financial a credit card issuer wamu acquired in 2005 . the company completed rebranding of washington mutual branches to chase in late 2009 . other recent acquisitions edit in the first quarter of 2006 chase purchased collegiate funding services a portfolio company of private equity firm lightyear capital for 663 million . cfs was used as the foundation for the chase student loans previously known as chase education finance . 17 in april of that same year 2006 chase acquired the the bank of new york co. s retail and small business banking network . this gave chase access to 338 additional branches and 700 000 new customers in new york new jersey connecticut and indiana . controversies edit purchase of nazi germany s reichsmarks during wwii edit a press release from the national archives and records administration nara in 2004 announced that many of the new federal bureau of investigation fbi files had become declassified . this declassification enabled the