Office address: 383 Madison Ave, New York, NY 10017
Website: www.jpmorgan.com/global
Year established: 1871
Company type: global investment firm
Employees: 300,000+
Expertise: investment banking, commercial banking, consumer and community banking, financial transaction processing, wealth and asset management, corporate banking, healthcare, technology, industrials, energy, consumer products
Parent company: JPMorgan Chase & Co.
Key people: Jamie Dimon (CEO), Ashley Bacon (CRO), Jeremy Barnum (CFO), Stacey Friedman (general counsel), Mary Erdoes (asset and wealth management), Sanoke Viswanathan (chief strategy and growth officer), Daniel Pinto (COO)
Financing status: N/A
J.P. Morgan is one of the world’s largest financial services firms and has over $3.9 trillion in assets, offering investment banking, payment processing, and more. The company has a staff of over 300,000 professionals working in more than 100 countries. They provide a variety of financial solutions for a wide range of clientele, including institutions and individuals, aiming to make a positive global impact with their financial offerings.
J.P. Morgan was founded in 1871 by J. Pierpont Morgan and Anthony Drexel as Drexel, Morgan & Co. to support the growing US industrial economy. By 1895, it became J.P. Morgan & Co., gaining recognition for stabilizing the US economy during financial crises in 1893 and 1907.
Meanwhile, in 1930, Chase National Bank merged with Equitable Trust, creating the largest bank globally at the time, as international banking expanded after World War I. The company continued to grow, establishing branches in Germany and Japan after the war to meet global demands.
In 2000, J.P. Morgan merged with Chase Manhattan to form JPMorgan Chase, expanding further in 2004 through its merger with Bank One. More recently, the firm strengthened operations by acquiring First Republic Bank and attracting a historic ultra-high-net-worth advisory team.
J.P. Morgan offers a range of financial services designed to meet the diverse needs of individuals, businesses, and institutions globally:
For 225 years, J.P. Morgan has served clients with integrity, focusing on upholding its core values while shaping the global economy. The company integrates customer-focused commitments in its operations that are aimed at building a sustainable and responsible future for its stakeholders.
J.P. Morgan values its employees as its greatest asset, recognizing that diverse talents across its global workforce contribute directly to the company's success. Diversity and client relationships are at the core of its operations. The company encourages innovation through cutting-edge technology and provides employees with comprehensive benefits, including:
The firm incorporates environmental, social, and governance (ESG) principles across its operations to drive sustainable growth. A key initiative is its 2021 Sustainable Development Target, aiming to finance over $2.5 trillion within 10 years to combat climate change. J.P. Morgan emphasizes transparency and strong governance in its ESG strategies, with initiatives such as:
J.P. Morgan is committed to fostering a diverse, equitable, and inclusive culture that supports both employees and the communities it serves. The company aims to create opportunities for underserved groups and build a stronger and more inclusive economy. Their ongoing efforts ensure long-term success for employees and society, supported by key DEI initiatives such as:
J.P. Morgan is also focused on strengthening communities by improving access to affordable housing and supporting essential institutions like hospitals, schools, and local governments. The company invests in creating stable neighborhoods where diverse communities can access homeownership opportunities. By partnering with community organizations, they help promote economic stability and enhance local well-being.
Jamie Dimon serves as the chairman and CEO of JPMorgan Chase, roles he has held since the merger with Bank One, where he previously served in the same positions. Before Bank One, Dimon was president of Citigroup and held senior leadership roles at Travelers, Smith Barney, Commercial Credit, and American Express. He holds an MBA from Harvard Business School and a bachelor's degree from Tufts University.
The key leaders who drive the company’s operations are industry veterans and experts, including:
J.P. Morgan has recently embraced the trend toward lifetime income by incorporating annuities into its target date funds, offering a fresh approach to retirement income solutions. This new product blends target date funds with annuity offerings from major insurers, helping to create personalized retirement plans. By entering this market, the company strengthens its role in retirement planning, appealing to clients seeking reliable income solutions.
The company is also taking steps to address employee well-being by limiting junior bankers' hours, with exceptions during high-demand periods. This change aims to improve work-life balance, helping J.P. Morgan retain top talent and reduce burnout. It reinforces its commitment to employee satisfaction by prioritizing healthier working conditions and enhancing its reputation as a desirable workplace in the competitive financial sector.
Low fund fees and big fund complexes equal outperformance.
<i>Breakfast with Benjamin</i> Oil's woes are a major problem for earnings growth, as S&P 500 companies continue to suffer declines.
With regulators cracking heads over sales of proprietary products, could the overwhelming success of Edward Jones' Bridge Builder program be a problem?
The firm joins Goldman, JP Morgan and John Hancock by jumping into the ETF space with passive strategies based on proprietary quantitative research.
A unit of Fidelity has been targeted in a class-action suit for fiduciary breach under ERISA as a result of its alleged mismanagement of a stable value fund.
BBVA isn't the only bank with eyes on algo-driven advice, the next trend in the robo-movement.
<i>Breakfast with Benjamin:</i> Financial adviser Rick Kahler says advisers could lose clients who expect to be given guarantees. And that's OK.
Dodge & Cox most female-friendly on Morningstar list.
5 steps to help you decide what to give and to whom
By category, ranked by one year total returns
A once-in-a-generation change reverberates through the world's economies, from more trucks on the road to the geopolitical balance of power.
Advisers who turn to “unconstrained” managers to diversify risk find lower-credit issuers and stock-like instability.
As yields fall to historic lows, investors should look to muni bonds and emerging-markets bonds. Meanwhile, stop considering Treasuries a safety play.
Dynasty Financial Partners has scored a two-person financial adviser team from Credit Suisse Group AG who managed $1 billion in client assets, the advisory platform provider said Monday.
New online overview report from Corporate Insight details progress.
