Quick Stats

Type – Public
NYSE: – JPM
Founded – New York City (1799)
Headquarters – New York City, New York, U.S.
Area served – Worldwide
Key people – James L. Dimon(Chairman, President and CEO)
Industry – Financial services
Products – Finance and insurance
Revenue – US$ 101 billion (2008)
Operating income – US$ 37.01 billion (2008)
Net income – US$ 11.7 billion (2009)
Total assets – US$ 2.07 trillion (July ’09)
Total equity – US$ 170.19 billion (July ’09)
Employees – 220,452 (2009)
Website – JPMorganChase.com, JPmorgan.com, Chase.com

JP Morgan Bio / History

It is a leader in financial services with assets of $2 trillion, and the largest market capitalization and third largest deposit base U.S. banking institution behind Wells Fargo and Bank of America. The hedge fund unit of JPMorgan Chase is the second largest hedge fund in the United States with $32.893 billion in assets as of 2009.

JPMorgan Chase was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co., the firm serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and governmental clients.

J.P. Morgan Chase & Co. in its current structure, is the result of the combination of several large U.S. banking companies over the last decade 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.

In June 2009, JPMorgan Chase repaid the full $25 billion of TARP money that it received under the Emergency Economic Stabilization Act of 2008. In addition to the principal loan repayment, they paid the US Treasury $795,138,889 in dividends on the preferred stock. This calculates to a repayment of interest of 3.18% over a period of 9 months, or 4.2% annualized.