Uniform Bank Performance Report - Anderson School of Management

1991: Chemical Banking Corp. combined with Manufacturers Hanover Corp., keeping the
name Chemical Banking Corp., then the second‐largest banking institution in the United States
Creation of Modern JPMorgan Chase & Co. (JPMC)
In 2000, J.P. Morgan & Co. merged with The Chase Manhattan Corporation, and was named JPMorgan
Chase and Co. (JPMC) 10 . Four years later, the company merged with Banc One. This merger established it
as a true global financial service leader by bringing on Banc One’s strong consumer banking expertise, an
aspect of banking which JPMC had previously lacked. In 2008 JPMC played an important role in helping
manage the credit crisis through the acquisition of Bear Stearns, a global investment banking, securities
trading, wealth management and brokerage firm founded in 1923. Soon after, on September 25, 2008,
JPMC bought most of the banking operations of Washington Mutual from the receivership of the FDIC.
These acquisitions further strengthened the already immense service base offered by the company. In a
ranking released by the Federal Financial Institutions Examination Council’s (FFIEC) on December 31,
2008, JPMC was named the largest bank holding company in the nation. 11
JPMorgan Chase & Co. Today / corporate personality
JP Morgan Chase and Co. is one of the Big Four Banks of the United States along with Bank of America,
Citigroup, and Wells Fargo. It has remained financially strong even during the most difficult economic
times. In light of the 2008 crisis, it has joined government efforts to continue lending and help stabilize
the recession, as well as introduced solutions to prevent home foreclosures. JPMC has provided billions
of dollars in new credit to consumers through credit cards, mortgages, auto and student loans, and to
small, mid‐sized, and large companies. It has invested billions of dollars into low and moderate‐income
communities through various organizations. It has also contributed millions of dollars and thousands of
employee volunteer hours to high‐need neighborhoods across the U.S., and supports hundreds of nonprofit
organizations aiming to strengthen communities. The company supports charity and humanitarian
10 http://www.fundinguniverse.com/company‐histories/JP‐Morgan‐Chase‐amp%3B‐Co‐Company‐History.html
11 "Top 50 BHC's."