Originally founded in 1799 as The Bank of Manhattan, the name was changed to JP Morgan when John Pierpont Morgan purchased the bank in 1877.
As of 2022, JP Morgan is the largest banking institution in the United States and the 5th largest bank in the world.
The J.P. Morgan bank is used by investment banking, asset management, private banking, private wealth management, and treasury services divisions.
In 2000, J.P. Morgan merged with Chase Manhattan Bank, thereby forming the J.P. Morgan Chase Bank.
The Chase brand is used for credit card services in the United States and Canada, along with retail and commercial banking services in the UK and the United States.
Both the retail and commercial bank and the bank’s corporate office are currently located in Midtown Manhattan, New York City after the previous headquarters, located across the street, was demolished. A new headquarters building is being built on the same street.
In September 2022, the company invested $20 million in the digital health company Let’s Get Checked.
Also in September 2022, J.P. Morgan investing experts stated that the company highly recommends energy stocks.
J.P. Morgan currently maintains a corporate office on Madison Avenue in New York, New York.