Uniform Bank Performance Report - Anderson School of Management

out New York City, and rescued the New York Stock Exchange 6 . During WWI, he arranged the biggest
foreign loan in Wall Street history at the time, a $500 million dollar Anglo‐French loan. All of these great
achievements were giving JPMorgan & Co. an excellent reputation and trusted name around the world.
In 1968, JPMorgan & Co.’s Morgan Guaranty in Brussels launched Euroclear, a system that provided for
the orderly settlement of transactions in Eurobonds, a new form of international security at the time. In
1989, JPMorgan & Co. showed its commitment to social change and diversity by ranking among
Fortune’s 50 Best Companies for Minorities. The firm regularly recognized women, minorities, and LGBT
employees. In 1990 J.P. Morgan played an active role in negotiations with Mexico to restructure nearly
$50 billion in medium‐and long‐term commercial bank debt. A first in the market, these new bonds
become famously known as Brady Bonds. In 1996, the bank jointly led the first “century” bond for a
sovereign borrower, a 100 year, and $100 million issue to the People’s Republic of China.
History of Heritage Institutions
While JPMorgan & Co. continued to expand, the companies it would acquire in the future were busy as
well. In 1927, Guaranty Trust Company, a predecessor firm of J.P. Morgan, pioneered the concept of
American Depositary Receipts (ADRs), which would enable Americans to invest in foreign securities
directly on U.S. exchanges. In 1929, two Ohio banking institutions merged to form City National Bank &
Trust, a predecessor of Banc One, which JPMorgan Chase & Co. would acquire in 2000. In 1955 Chase
National Bank merged with The Bank of the Manhattan Company to form Chase Manhattan Bank. Then
in 1973, Chase Manhattan opened representative offices in Moscow and became U.S. correspondent to
the Bank of China. This was the first Russian presence for a U.S. bank since the 1920s, and the first
correspondence with a Chinese bank since the 1949 Chinese revolution 7 . Finally, in 1980, a San Francisco
based predecessor firm, Hambrecht & Quist Investment Bank, took legendary technology firm Apple
Computer Inc. public.
6 "The History of JPMorgan Chase and Co.; 200 Years in Leadership.", pg. 7
7 "The History of JPMorgan Chase and Co.; 200 Years in Leadership.", pg. 15