JPMorgan Success Story
JPMorgan success story Company Profile is an initiative by ListMyStartUp to publish verified information on different startups and organizations. The content in this post has been approved by the organization it is based on.
JPMorgan (John Pierpont Morgan) Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City. JPMorgan Chase is ranked by S&P Global as the largest bank in the United States and the seventh largest bank in the world by total assets, with total assets of US$3.213 trillion.
JPMorgan – Company Highlights
- Startup Name-JPMorgan Chase & Co.
- Headquarters-New York City, New York, U.S.
- Industry-Financial services
- Founded-December 1, 2000
- Founder-Balthazar P. Melick(Chemical Bank), John Pierpont Morgan(J.P. Morgan & Co.), Aaron Burr(The Manhattan Company) and John Thompson(Chase National Bank)
- CEO-Jamie Dimon
- Areas Served-Worldwide
- Website-www.jpmorganchase.com
JPMorgan – About and How it Works?
JPMorgan Chase & Co. is a financial holding company. It provides financial and investment banking services. The firm offers a range of investment banking products and services in all capital markets, including advising on corporate strategy and structure, capital raising in equity and debt markets, risk management, market making in cash securities and derivative instruments, and brokerage and research.
It operates through the following segments: Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking and Asset and Wealth Management.
JPMorgan – Logo and its Meaning
The geometry of the emblem and its colours stood for confidence, loyalty, professionalism, and unity, and showed the bank as a strong financial organization with its customers as the main value.
JPMorgan – Founder and History
JPMorgan Chase, in its current form, has its roots in more than 1,200 predecessor banks, including major heritage firms JP Morgan, Chase Manhattan, Chemical Bank, Manufacturers Hanover, Bank One, First Chicago, and National Bank of Detroit. These entities all played a significant role in the growth of the US and global economies. The earliest of the Company’s predecessor companies was The Bank of the Manhattan Company, which was established in 1799 by Aaron Burr as only the second commercial bank in the US.
JPMorgan is now one of the largest banking institutions in the world. It is ranked 23rd in the Fortune 500 list and 5th in the Forbes 2000 list. The Company trades its shares on the New York Stock Exchange and has a current market capitalization of $243.59 billion.
JPMorgan – Mission
JP Morgan’s mission statement says, “JPMorgan provides a range of banking and financial services to consumer, corporations and public institutions, with the aim of enhancing their financial wellbeing and helping to effectively manage their finances.”
JPMorgan – Business Model
JPMorgan Chase organizes its activities into core major reportable business segments
Consumer and Community Banking, which provides consumers and businesses with consumer and community banking services – such as deposit, lending and investment products – through personal service at bank branches and through automated teller machines, online, mobile and telephone banking;
JPMorgan Chase also operates a Corporate segment, which comprises the activities of corporate staff units.
JPMorgan – Revenue and Growth
JPMorgan Chase generates revenue through the provision of various banking and financial services and products. Revenue is derived principally through fees and commissions imposed upon customers in relation to the Company’s services, including advisory, investment banking, management, and underwriting fees.
The Company’s largest portion of revenue was derived from asset management, administration, and commissions, which amounted to $15.51 billion for the year.
2019 $142.422B +9.5%
2018 $130.07B +13.52%
2017 $114.579B 7.7%
JPMorgan – Investments
JP Morgan Chase has made 144 investments. Their most recent investment was on Nov 9, 2020, when NovoCure raised $150M.
JPMorgan – Acquisitions
JP Morgan Chase has acquired 10 organizations. Their most recent acquisition was InstaMed on May 17, 2019.
JPMorgan – Competitors
The top 10 competitors in JPMorgan Chase’s competitive set are Citi, Goldman Sachs, Bank of America, Morgan Stanley, Capital One, Credit Suisse, Fidelity, Wells Fargo, American Express and HSBC.
JPMorgan – Challenges Faced
“We do not worry about the stock price in the short run,” Dimon (CEO) said. “If you continue to build a great company, the stock price will take care of itself.”
Economic risks on the horizon – The excessive disruption in the financial markets at the end of 2018 was “a harbinger of things to come,” as investor sentiment remained precarious.
Regulation isn’t all bad, but too much of it isn’t good – Dimon said current “excessive” regulation has reduced growth and business formation for the company, without making the economy safer or better.
“The ease of starting a business in the United States has worsened, and both small business formation and employment growth have dropped to the lowest rates in 30 years,” Dimon wrote.
JPMorgan – Future Plans
17,000 Job Cuts- Even the country’s largest bank needs to cut back on employees. Executives said JPMorgan would eliminate about 17,000 positions over the next two years, including about 4,000 through attrition this year in its consumer bank.
New Partnership- JPMorgan used the day to announce a new partnership with Visa. Executives said the deal will allow the bank to negotiate directly with merchants over how they process Chase credit and debit cards.
JPMorgan – FAQs
What does JP Morgan do?
JPMorgan Chase & Co. is a global financial service that provides services including consumer banking, investment banking, commercial banking, and asset management for individuals, corporations, institutions, and governments globally.
Is JP Morgan and JP Morgan Chase the same?
JPMorgan Chase & Co. is the parent holding company of Chase (Commerical Bank) and JPMorgan (Investment Bank).
Is JP Morgan the largest bank?
JPMorgan Chase & co. is America’s one of the largest bank.
What is JP Morgan’s full name?
John Pierpont Morgan is JPMorgan’s full name.
How does JPMorgan make money?
The company operates through the following segments: Consumer and Community Banking, Corporate and Investment Bank, Commercial Banking and Asset and Wealth Management.