TKGI FINANCE

America's Top 20 Bank Holding Companies

JPMorgan Chase & Co.



JP Morgan Chase & Co. is currently ranked number one on the Federal Financial Institutions Examination Council's (FFIEC) list of the top 50 banks. The rank is compiled by total assets and JPMorgan Chase & Co. comes out on top, just $60,000,000 ahead of Bank of America.

JPMorgan Chase & Co. is the amalgamation of over 1200 various other banks and financial institutions, dating back to 1799. In 1824 the New York Chemical Manufacturing Company started the Chemical Bank of New York. A series of mergers with the Corn Exchange Bank in 1954, the Texas Commerce Bank in 1986 and the Manufacturer's Hanover Trust Company in 1991 turned it into one of the largest banks of the 1980s and 1990s.

The Bank of the Manhattan Company is the oldest predecessor of JPMorgan Chase & Co. In 1955 it purchased Chase National Bank and changed the name to Chase Manhattan Bank.

J.P. Morgan & Co. dates back to 1895 and helped to finance major projects of the early 1900s. Due to government regulations of the 1930s they had to separate their investment and commercial banking divisions. Morgan Stanley was created in 1935 as an investment bank. A merger between J.P. Morgan and the Guaranty Trust Company of New York in 1959 created the Morgan Guaranty Trust. It bought Purdue National Corporation of Lafayette Indiana in 1984 and operated under that name until 1988 when they reverted back to the name J.P. Morgan & Co.

In 1996 Chemical Bank took over Chase Manhattan and continued to use the name Chase. Four years later they acquired J.P. Morgan & Co. and combined the names to form what it is known as today.

During the financial crisis of 2008, JPMorgan Chase & Co. bought Bear Sterns and Washington Mutual in order to keep them from going under. Most recently, in 2010, JPMorgan Chase & Co. got full ownership of J.P. Morgan Cazenove, a joint venture it had in the United Kingdom.

JP Morgan Chase & Co. have their corporate headquarters in four buildings in Manhattan, New York while their retail and commercial banking headquarters are located in Chicago, Illinois. Hong Kong houses the Asia Pacific headquarters and London is home to their European headquarters. Their card services are located in Delaware and they have a major office building in Columbus, Ohio.

The headquarters for JPMorgan Chase & Co. are situated in all the major world financial centers which is essential for them to maintain competitiveness within the financial industry. They have easy access to most of the other prominent banks and financial services, making it easy for them to make deals and acquisitions as well as to keep on top of what the competition are doing. Additionally, these areas are the stomping grounds for many wealthy people and great minds which make for great clients and business partners.