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J.P. Morgan Chase & Co. (NYSE: JPM (http://www.nyse.com/about/listed/lcddata.html?ticker=JPM)), a Delaware corporation that uses the brand name JPMorgan Chase for its corporate image advertising and communications and JPMorgan as a brand for the investment bank business, is a global financial services firm with operations in more than 50 countries. Its "corporate dna" is from the company Chemical Bank, which took over Chase Manhattan then later JP Morgan. It retains Chemical's bank headquarters, stock history, and most of its management.
In 2004, the company acquired Bank One of Chicago, bringing on star Bank One CEO Jamie Dimon as president and COO of the merged firm and designating him as CEO William B. Harrison, Jr.'s future successor. Dimon quickly made his influence felt by embarking on a cost-cutting strategy and placing some former Bank One executives in key ranks at the new company.
History
In 2000, J.P. Morgan & Company merged with the Chase Manhattan Corporation. On July 1, 2004, it merged with the country's sixth largest bank by assets, Chicago-based Bank One. The firm is based in New York City, with offices worldwide.
Chase Manhattan Corporation
J.P. Morgan & Company
In 1895 Drexel, Morgan & Co. became J. P. Morgan & Co.. It financed the formation of the United States Steel Corporation, which took over the business of Andrew Carnegie and others and was the world's first billion-dollar corporation. In 1895 it supplied the United States government with $62 million in gold to float a bond issue and restore the treasury surplus of $100 million.
In 1892 the company began to finance the New York, New Haven and Hartford Railroad and led it through a series of acquisitions that made it the dominant railroad transporter in New England. Railroads began their decline in the early 20th century, losing alternative transportation. Its primary competitor Kuhn, Loeb & Co. was a more successfull advisor and financier to production companies and J.P. Morgan lost its first place in market cap and the league tables.
In August 1914 Henry P. Davison, a Morgan partner, traveled to England and made a deal with the Bank of England to make J. P. Morgan & Co. the monopoly underwriter of "war bonds" for England and France. The Bank of England became a "fiscal agent" of J. P. Morgan & Co. and vice versa. The company was also invested in the suppliers of war equipment to England and France. And through that made money from the financing and buying activities of the two European governments.
Business segments
Before the merger with Bank One
Before the merger with Bank One, the company's wholesale businesses was comprised of four segments:
- Investment Bank (IB), which provides investment banking and commercial banking products and services.
- Treasury & Securities Services (TSS), whose three businesses provide debt servicing, securities custody and related functions, and treasury and cash management services to corporations, financial institutions and governments.
- Investment Management & Private Banking (IMPB) which provides investment management services to institutional investors, high net worth individuals and retail customers.
- JPMorgan Partners (JPMP), which is the Company's private equity business.
External links
- 9-Nov-04 10-Q (http://finance.yahoo.com/q/sec?s=jpm) (NOTE 20BUSINESS SEGMENTS)
Management
Former
- CEO investment bank (- May 23, 2002): Geoffrey T. Boisi (co-CEO with Donald Layton) (replaced by David Coulter)
Conference calls
- Jan 19, 2005 - Q4 2004 Earnings Review (press release and slides (http://www.shareholder.com/JPMorganChase/earningsDetail.cfm?ReleaseID=152923)) (audio (http://play.rbn.com/play.asx?url=shareholder/shareholder/wmdemand/050119one.wma&proto=mms?mswmext=.asx))
- October 20, 2004 - Q3 2004 Earnings Update (press release and slides (http://www.shareholder.com/JPMorganChase/earningsDetail.cfm?ReleaseID=145542)) (audio (http://play.rbn.com/play.asx?url=shareholder/shareholder/wmdemand/041020one.asf&proto=mms?mswmext=.asx))
- Jul 21, 2004 - Q2 2004 Earnings Review and Merger Update (press release and slides (http://www.shareholder.com/JPMorganChase/earningsDetail.cfm?ReleaseID=139326)) (audio (http://us.rd.yahoo.com/finance/confcall/streetevents/SIG=13c5bmppa/*http%3a//web.servicebureau.net/conf/meta?i=1112471457&c=2343&m=was&u=/w_ccbn.xsl&date_ticker=7_21_2004_JPM))
- April 21, 2004 - Q1 2004 earnings (press release and slides (http://www.jpmorganchase.com/cm/cs?pagename=Chase/Href&urlname=jpmc/ir/financial/earnings/2004-1q)) (audio (http://web.servicebureau.net/conf/meta?i=1112428747&c=2343&m=was&u=/w_ccbn.xsl&date_ticker=4_21_2004_JPM))
SEC filings
See [1] (http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0000019617&owner=exclude)
- 2004-11-09 - 10-Q Q3 2004 ([2] (http://www.sec.gov/Archives/edgar/data/19617/000095012304013301/0000950123-04-013301-index.htm))
Diversity
JP Morgan Chase received a 100 percent rating on the first Corporate Equality Index released by the Human Rights Campaign in 2002. They have maintained this rating in 2003 and 2004.
JP Morgan Chase is one of the top 10 companies for working mothers in 2004 (http://www.workingwoman.com/top10.html) according to Working Mother Media.
See also
External links
Data
Articles
History
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