A rich heritage.

A leader since 1799

We’re proud of our history. Justifiably so. Our past is full of memorable dates.

Our roots stretch back to 1799 with the creation of the Bank of the Manhattan Company. J.P. Morgan & Co. was founded in New York in 1871 as Drexel, Morgan & Co. by Philadelphia banker Anthony Drexel and J. Pierpont Morgan, a historical figure in business.

We’ve never been a purely US bank, either. Our roots in Europe go back to 1838 and we’ve been in Asia since 1872.

In 1901 we created the world’s first billion-dollar corporation. In 1907 we saved several trust companies and a leading brokerage house from insolvency, bailed out New York City and rescued the New York Stock Exchange.

A history of innovation

As with so much else, we did it first, and we still do it better. Take “relationship banking,” for example. Today, it’s a phrase used all over. But when J. Pierpont Morgan first uttered it, it was nothing short of revolutionary. The means may have changed, but it’s a principle that still underpins our business even now.

Among other highlights, we were the first bank to pioneer the idea of American Depository Receipts (ADRs) in the early 20th century - allowing Americans to invest in foreign securities directly on American exchanges. More recently, we are well known on Wall Street to be among the first to pioneer credit derivatives.

Of course, tradition by itself is worth next to nothing. Ours is an illustrious history. We see our heritage as providing a rich inheritance of resources. We’re naturally very careful about how we invest them and whom we pass them onto.

Building a financial powerhouse 

In July 2004, the merger of two powerful and globally renowned institutions, JPMorgan Chase & Co and Bank One, created one of the world’s most dominant financial service corporations. And as the 2008 merger with Bear Stearns illustrates, J.P. Morgan continues to demonstrate market leadership.

Firm-wide, we now have top-tier positions in both business-to-business (wholesale) and mass-market (retail) banking, alongside a more balanced earnings stream, greater scale and financial strength. Our retail businesses operate under the Chase brand. Within our wholesale businesses, it’s the future of the Investment Bank and Asset Management that we’re shaping by hiring the very best graduates across the globe.

Our mission now is a simple one: to be the best financial services company in the world. We know we can do it. In this, we’re certainly inspired by our history. But we’re more excited by the future.