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JPMORGAN CHASE & CO. is a U.S. multinational banking and financial services holding company headquartered in New York City
New York City
. It is the largest bank in the United States
United States
, the world\'s third largest bank by total assets , with total assets of US$2.5 trillion , and the world's most valuable bank by market capitalization , topping ICBC . It is a major provider of financial services , and according to Forbes magazine is the world's sixth largest public company based upon a composite ranking. The hedge fund unit of JPMorgan Chase
JPMorgan Chase
is the second largest hedge fund in the United States. The company was formed in 2000, when Chase Manhattan
Manhattan
Corporation merged with J.P. Morgan & Co.

The J.P. Morgan brand, historically known as Morgan, is used by the investment banking , asset management , private banking , private wealth management , and treasury & securities services divisions. Fiduciary activity within private banking and private wealth management is done under the aegis of JPMorgan Chase
JPMorgan Chase
Bank, N.A.—the actual trustee . The Chase brand is used for credit card services in the United States
United States
and Canada, the bank's retail banking activities in the United States, and commercial banking. Both the retail and commercial bank and the bank's corporate headquarters are located at 270 Park Avenue in Midtown Manhattan
Midtown Manhattan
, New York City
New York City
. JPMorgan Chase & Co. is considered to be a universal bank and a custodian bank . As of 2016, JPMorgan Chase
JPMorgan Chase
is one of the Big Four banks of the United States, followed by Bank
Bank
of America , Citigroup
Citigroup
, and Wells Fargo
Wells Fargo
.

CONTENTS

* 1 History

* 1.1 Chase Manhattan
Manhattan
Bank
Bank
* 1.2 Chemical Banking
Banking
Corporation * 1.3 J.P. Morgan "> The JPMorgan Chase
JPMorgan Chase
logo prior to the 2008 rebranding As of June 2008, the JPMorgan logo used for the company's Investment Banking, Asset
Asset
Management, and Treasury & Securities Services units.

JPMorgan Chase, in its current structure, is the result of the combination of several large U.S. banking companies since 1996, including Chase Manhattan
Manhattan
Bank
Bank
, J.P. Morgan "> The logo used by Chase following the merger with the Manhattan
Manhattan
Bank
Bank
in 1954

The Chase Manhattan
Manhattan
Bank
Bank
was formed upon the 1955 purchase of Chase National Bank
Bank
(established in 1877) by the Bank
Bank
of the Manhattan Company (established in 1799), the company's oldest predecessor institution. The Bank
Bank
of the Manhattan
Manhattan
Company was the creation of Aaron Burr
Aaron Burr
, who transformed The Manhattan Company from a water carrier into a bank.

According to page 115 of An Empire of Wealth by John Steele Gordon , the origin of this strand of JPMorgan Chase's history runs as follows:

At the turn of the nineteenth century, obtaining a bank charter required an act of the state legislature. This of course injected a powerful element of politics into the process and invited what today would be called corruption but then was regarded as business as usual. Hamilton 's political enemy—and eventual murderer— Aaron Burr
Aaron Burr
was able to create a bank by sneaking a clause into a charter for a company, called the Manhattan
Manhattan
Company, to provide clean water to New York City. The innocuous-looking clause allowed the company to invest surplus capital in any lawful enterprise. Within six months of the company's creation, and long before it had laid a single section of water pipe, the company opened a bank, the Bank
Bank
of the Manhattan Company. Still in existence, it is today J. P. Morgan Chase, the largest bank in the United States.

Led by David Rockefeller during the 1970s and 1980s, Chase Manhattan emerged as one of the largest and most prestigious banking concerns, with leadership positions in syndicated lending, treasury and securities services, credit cards, mortgages, and retail financial services. Weakened by the real estate collapse in the early 1990s, it was acquired by Chemical Bank
Bank
in 1996, retaining the Chase name. Before its merger with J.P. Morgan & Co., the new Chase expanded the investment and asset management groups through two acquisitions. In 1999, it acquired San Francisco-based Hambrecht & Quist for $1.35 billion. In April 2000, UK-based Robert Fleming & Co. was purchased by the new Chase Manhattan
Manhattan
Bank
Bank
for $7.7 billion.

CHEMICAL BANKING CORPORATION

Main article: Chemical Bank
Bank

The New York Chemical Manufacturing Company was founded in 1823 as a maker of various chemicals. In 1824, the company amended its charter to perform banking activities and created the Chemical Bank
Bank
of New York . After 1851, the bank was separated from its parent and grew organically and through a series of mergers, most notably with Corn Exchange Bank
Bank
in 1954, Texas Commerce Bank
Bank
(a large bank in Texas) in 1986, and Manufacturer\'s Hanover Trust Company in 1991 (the first major bank merger "among equals"). In the 1980s and early 1990s, Chemical emerged as one of the leaders in the financing of leveraged buyout transactions. In 1984, Chemical launched Chemical Venture Partners to invest in private equity transactions alongside various financial sponsors . By the late 1980s, Chemical developed its reputation for financing buyouts, building a syndicated leveraged finance business and related advisory businesses under the auspices of pioneering investment banker, Jimmy Lee . At many points throughout this history, Chemical Bank
Bank
was the largest bank in the United States (either in terms of assets or deposit market share ).

In 1996, Chemical Bank
Bank
acquired Chase Manhattan. Although Chemical was the nominal survivor, it took the better-known Chase name. To this day, JPMorgan Chase
JPMorgan Chase
retains Chemical's pre-1996 stock price history, as well as Chemical's former headquarters at 270 Park Avenue .

J.P. MORGAN & COMPANY

Main article: J.P. Morgan "> The J.P. Morgan "> Influence of J.P. Morgan in Large Corporations, 1914 The J.P. Morgan headquarters in New York City
New York City
following the September 16, 1920 bomb explosion that took the lives of 38 and injured over 400

The heritage of the House of Morgan traces its roots to the partnership of Drexel, Morgan & Co. , which in 1895 was renamed J.P. Morgan & Co. (see also: J. Pierpont Morgan
J. Pierpont Morgan
). Arguably the most influential financial institution of its era, J.P. Morgan & Co. financed the formation of the United States
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, J.P. Morgan & Co. supplied the United States
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.

Built in 1914, 23 Wall Street was known as the "House of Morgan", and for decades the bank's headquarters was the most important address in American finance . At noon, on September 16, 1920, a terrorist bomb exploded in front of the bank , injuring 400 and killing 38. Shortly before the bomb went off, a warning note was placed in a mailbox at the corner of Cedar Street and Broadway. The warning read: "Remember we will not tolerate any longer. Free the political prisoners or it will be sure death for all of you. American Anarchists Fighters." While there are many hypotheses regarding who was behind the bombing and why they did it, after 20 years of investigation the FBI
FBI
rendered the case inactive without ever finding the perpetrators.

In August 1914, Henry P. Davison , a Morgan partner, traveled to the UK and made a deal with the Bank
Bank
of England
England
to make J.P. Morgan & Co. the monopoly underwriter of war bonds for the UK and France. The Bank of England
England
became a "fiscal agent " of J.P. Morgan & Co., and vice versa. The company also invested in the suppliers of war equipment to Britain and France. Thus, the company profited from the financing and purchasing activities of the two European governments.

In the 1930s, all of J.P. Morgan & Co. along with all integrated banking businesses in the United States, was required by the provisions of the Glass–Steagall Act
Glass–Steagall Act
to separate its investment banking from its commercial banking operations. J.P. Morgan & Co. chose to operate as a commercial bank, because at the time commercial lending was perceived as more profitable and prestigious. Additionally, many within J.P. Morgan believed that a change in political climate would eventually allow the company to resume its securities businesses but it would be nearly impossible to reconstitute the bank if it were disassembled.

In 1935, after being barred from securities business for over a year, the heads of J.P. Morgan spun off its investment-banking operations. Led by J.P. Morgan partners, Henry S. Morgan (son of Jack Morgan and grandson of J. Pierpont Morgan
J. Pierpont Morgan
) and Harold Stanley , Morgan Stanley was founded on September 16, 1935, with $6.6 million of nonvoting preferred stock from J.P. Morgan partners. In order to bolster its position, in 1959, J.P. Morgan merged with the Guaranty Trust Company of New York to form the Morgan Guaranty Trust Company. The bank would continue to operate as Morgan Guaranty Trust until the 1980s, before beginning to migrate back toward the use of the J.P. Morgan brand. In 1984, the group finally purchased the Purdue National Corporation of Lafayette Indiana, uniting a history between the two figures of Salmon Portland Chase and John Purdue . In 1988, the company once again began operating exclusively as J.P. Morgan "> The First Chicago
Chicago
Bank
Bank
logo

Bank
Bank
One Corporation traced its roots to First Bancgroup of Ohio, founded as a holding company for City National Bank
Bank
of Columbus, Ohio and several other banks in that state, all of which were renamed "Bank One" when the holding company was renamed Banc One Corporation. With the beginning of interstate banking they spread into other states, always renaming acquired banks " Bank
Bank
One", though for a long time they resisted combining them into one bank. After the First Chicago
Chicago
NBD merger, adverse financial results led to the departure of CEO John B. McCoy , whose father and grandfather had headed Banc One and predecessors. Dimon was brought in to head the company. JPMorgan Chase completed the acquisition of Bank
Bank
One in the third quarter of 2004. The former Bank
Bank
One and First Chicago
Chicago
headquarters in Chicago
Chicago
serve as the headquarters of Chase , JPMorgan Chase's commercial and retail banking subsidiary.

BEAR STEARNS

Main article: Bear Stearns
Bear Stearns
The Bear Stearns
Bear Stearns
logo

At the end of 2007, Bear Stearns
Bear Stearns
"> The Washington Mutual
Washington Mutual
logo prior to its 2008 acquisition by JPMorgan Chase
JPMorgan Chase

On September 25, 2008, JPMorgan Chase
JPMorgan Chase
bought most of the banking operations of Washington Mutual
Washington Mutual
from the receivership of the Federal Deposit Insurance Corporation . That night, the Office of Thrift Supervision , in what was by far the largest bank failure in American history, had seized Washington Mutual
Washington Mutual
Bank
Bank
and placed it into receivership. The FDIC sold the bank's assets, secured debt obligations and deposits to JPMorgan Chase
JPMorgan Chase
">JPMORGAN CHASE padding:0;">

JPMorgan Chase (merged 2000)

Chase Manhattan
Manhattan
Bank
Bank
(merged 1996)

Chemical Bank
Bank
(merged 1991)

Chemical Bank
Bank
(reorganized 1988)

The Chemical Bank of New York (est. 1823)

Citizens National Bank (est. 1851, acq. 1920)

Corn Exchange Bank
Bank
(est. 1852, acq. 1954)

New York Trust Company (acq. 1959)

Texas Commerce Bank
Bank
(est. 1866, acq. 1986)

Manufacturers Hanover (merged 1961)

Manufacturers Trust Company (est. 1905)

Hanover Bank (est. 1873)

Chase Manhattan
Manhattan
Bank
Bank
(merged 1955)

Bank
Bank
of the Manhattan
Manhattan
Company (est. 1799)

Chase National Bank
Bank
of the City of New York (est. 1877)

J.P. Morgan padding:0;">

Guaranty Trust Company of New York (est. 1866)

J.P. Morgan vertical-align:top;text-align:center;">

Bank
Bank
One (acq. 2004)

Banc One Corp. (merged 1968)

City National Bank border-left:1px solid;vertical-align:top;text-align:center;">

Farmers Saving vertical-align:top;text-align:center;">

First Chicago
Chicago
NBD (merged 1995)

First Chicago
Chicago
Corp. (est. 1863)

NBD Bancorp. (formerly National Bank
Bank
of Detroit ) (est. 1933)

Louisiana's First Commerce Corp.

Bear Stearns
Bear Stearns
(est. 1923; acq. 2008)

Washington Mutual
Washington Mutual
(acq. 2008)

Washington Mutual
Washington Mutual
(founded 1889)

Great Western Bank
Bank
(acq. 1997)

H. F. Ahmanson border-left:1px solid;vertical-align:top;text-align:center;">

Bank
Bank
United of Texas (acq. 2001)

Dime Bancorp, Inc. (acq. 2002)

Providian Financial (acq. 2005)

RECENT HISTORY

In October 2014, JP Morgan sold its commodities trader unit to Mercuria for $800 million, a quarter of the initial valuation of $3.5 billion, as the transaction excluded some oil and metal stockpiles and other assets.

In March 2016, JPMorgan decided not to finance coal mines and coal power plants in wealthy countries.

In September 2016, JP Morgan made an equity investment in InvestCloud.

In December, 14 former executives of the Wendel investment company faced trial for tax fraud while JP Morgan Chase was to be pursued for complicity. Jean-Bernard Lafonta was convicted last December for spreading false information and insider trading, and fined 1.5 million euros.

In March 2017, Lawrence Obracanik, a former JPMorgan Chase
JPMorgan Chase
& Co employee, pleaded guilty to criminal charges that he stole more than $5 million from his employer to pay personal debts.

In June 2017, Matt Zames, the now former COO of the bank decided to leave the firm.

STRUCTURE

JPMorgan Chase
JPMorgan Chase
Chase Bank USA, National Association; Custodial Trust Company; JPMorgan Chase
JPMorgan Chase
Bank, Dearborn; and J.P. Morgan Bank
Bank
and Trust Company, National Association.

For management reporting purposes, JPMorgan Chase's activities are organized into a corporate/private equity segment and four business segments; consumer and community banking, corporate and investment bank, commercial banking, and asset management. The investment banking division at J.P. Morgan is divided by teams: industry, M that was 46 percent, or $630 million, more than it would have paid had it accepted an investor offer in May 2004 of $1.37 billion. J.P. Morgan was the last big lender to settle. Its payment is the second largest in the case, exceeded only by the $2.6 billion accord reached in 2004 by Citigroup
Citigroup
. In March 2005, 16 of WorldCom 's 17 former underwriters reached settlements with the investors.

JEFFERSON COUNTY, ALABAMA

In November 2009, JPMorgan Chase
JPMorgan Chase
both actions were in clear violation of the Servicemembers Civil Relief Act which automatically lowers mortgage rates to 6 percent, and bars foreclosure proceedings of active duty personnel. The overcharges may have never come to light were it not for legal action taken by Captain Jonathan Rowles. Both Captain Rowles and his spouse Julia accused Chase of violating the law and harassing the couple for nonpayment. An official stated that the situation was "grim", and Chase initially stated it would be refunding up to $2,000,000 to those who were overcharged, and that families improperly foreclosed on have gotten or will get their homes back. Chase has acknowledged that as many as 6,000 active duty military personnel were illegally overcharged, and more than 18 military families homes were wrongly foreclosed. In April, Chase agreed to pay a total of $27 million in compensation to settle the class-action suit. At the company's 2011 shareholders' meeting, Dimon apologized for the error and said the bank would forgive the loans of any active-duty personnel whose property had been foreclosed. In June 2011, lending chief Dave Lowman was forced out over the scandal.

TRUTH IN LENDING ACT LITIGATION

In 2008 and 2009, 14 lawsuits were filed against JPMorgan Chase
JPMorgan Chase
in various district courts on behalf of Chase credit card holders claiming the bank violated the Truth in Lending Act , breached its contract with the consumers and committed a breach of implied covenant of good faith and fair dealing. The consumers contended that Chase, with little or no notice, increased minimum monthly payments from 2% to 5% on loan balances that were transferred to consumers' credit cards based on the promise of a fixed interest rate. In May 2011, the United States
United States
District Court for the Northern District of California certified the class action lawsuit. On July 23, 2012, Chase agreed to pay $100 million to settle the claim.

ALLEGED MANIPULATION OF ENERGY MARKET

In July 2013, The Federal Energy Regulatory Commission (FERC) approved a stipulation and consent agreement under which JPMorgan Ventures Energy Corporation (JPMVEC), a subsidiary of JPMorgan Chase the Weapons of Mass Destruction Proliferators Sanctions Regulations ("WMDPSR"), 31 C.F.R. part 544; Executive Order 13382, "Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters;" the Global Terrorism Sanctions Regulations ("GTSR"), 31 C.F.R. part 594; the Iranian Transactions Regulations ("ITR"), 31 C.F.R. part 560; the Sudanese Sanctions Regulations ("SSR"), 31 C.F.R. part 538; the Former Liberian Regime of Charles Taylor Sanctions Regulations ("FLRCTSR"), 31 C.F.R. part 593; and the Reporting, Procedures, and Penalties Regulations ("RPPR"), 31 C.F.R. part 501, that occurred between December 15, 2005, and March 1, 2011. — U.S. Department of the Treasury Resource Center, OFAC Recent Actions. Retrieved June 18, 2013.

NATIONAL MORTGAGE SETTLEMENT

On February 9, 2012, it was announced that the five largest mortgage servicers (Ally/GMAC, Bank
Bank
of America, Citi, JPMorgan Chase, and Wells Fargo) agreed to a historic settlement with the federal government and 49 states. The settlement, known as the National Mortgage Settlement (NMS), required the servicers to provide about $26 billion in relief to distressed homeowners and in direct payments to the states and federal government. This settlement amount makes the NMS the second largest civil settlement in U.S. history, only trailing the Tobacco Master Settlement Agreement . The five banks were also required to comply with 305 new mortgage servicing standards. Oklahoma held out and agreed to settle with the banks separately.

SPECULATIVE TRADING

Main article: 2012 JPMorgan Chase trading loss

In 2012, JPMorgan Chase
JPMorgan Chase
& Co was charged for misrepresenting and failing to disclose that the CIO had engaged in extremely risky and speculative trades that exposed JPMorgan to significant losses.

MORTGAGE-BACKED SECURITIES SALES

In August 2013, JPMorgan Chase
JPMorgan Chase
announced that it is being investigated by the United States
United States
Department of Justice over its offerings of mortgage-backed securities leading up to the financial crisis of 2007–08 . The company said that the Department of Justice had preliminarily concluded that the firm violated federal securities laws in offerings of subprime and Alt-A residential mortgage securities during the period 2005 to 2007.

"SONS AND DAUGHTERS" HIRING PROGRAM

In November 2016, JPMorgan Chase
JPMorgan Chase
agreed to pay $264 million in fines to settle civil and criminal charges involving a systematic bribery scheme spanning 2006 to 2013 in which the bank secured business deals in Hong Kong
Hong Kong
by agreeing to hire hundreds of friends and relatives of Chinese government officials, resulting in more than $100 million in revenue for the bank.

MADOFF FRAUD

Further information: Madoff investment scandal
Madoff investment scandal

Bernie Madoff
Bernie Madoff
opened a business account at Chemical Bank
Bank
in 1986 and maintained it until 2008, long after Chemical acquired Chase.

In 2010, Irving Picard , the SIPC receiver appointed to liquidate Madoff's company, alleged that JPMorgan failed to prevent Madoff from defrauding his customers. According to the suit, Chase "knew or should have known" that Madoff's wealth management business was a fraud. However, Chase did not report its concerns to regulators or law enforcement until October 2008, when it notified the UK Serious Organised Crime Agency . Picard argued that even after Morgan investment bankers reported its concerns about Madoff's performance to UK officials, Chase's retail banking division did not put any restrictions on Madoff's banking activities until his arrest two months later. The receiver's suit against J.P. Morgan was dismissed by the Court for failing to set forth any legally cognizable claim for damages.

In the fall of 2013, JPMorgan began talks with prosecutors and regulators regarding compliance with anti-money-laundering and know-your-customer banking regulations in connection with Madoff.

On January
January
7, 2014, JPMorgan agreed to pay a total of $2.05 billion in fines and penalties to settle civil and criminal charges related to its role in the Madoff scandal. The government filed a two-count criminal information charging JPMorgan with Bank
Bank
Secrecy Act violations, but the charges will be dismissed within two years provided that JPMorgan reforms its anti-money laundering procedures and cooperates with the government in its investigation. The bank agreed to forfeit $1.7 billion.

The lawsuit, which was filed on behalf of shareholders against Chief Executive Jamie Dimon and other high-ranking JPMorgan employees, used statements made by Bernie Madoff
Bernie Madoff
during interviews conducted while in prison in Butner, North Carolina claiming that JPMorgan officials knew of the fraud. The lawsuit stated that, "JPMorgan was uniquely positioned for 20 years to see Madoff's crimes and put a stop to them ... But faced with the prospect of shutting down Madoff's account and losing lucrative profits, JPMorgan - at its highest level - chose to turn a blind eye."

JPMorgan also agreed to pay a $350 million fine to the Office of the Comptroller of the Currency and settle the suit filed against it by Picard for $543 million.

CORRUPTION INVESTIGATION IN ASIA

On March 26, 2014, the Hong Kong
Hong Kong
Independent Commission Against Corruption seized computer records and documents after searching the office of Fang, the company's outgoing chief executive officer for China investment banking.

SEPTEMBER 2014 CYBER-ATTACK

Main article: 2014 JPMorgan Chase data breach

A cyber-attack , disclosed in September 2014, compromised the JPMorgan Chase
JPMorgan Chase
accounts of over 83 million customers. The attack was discovered by the bank's security team in late July 2014, but not completely halted until the middle of August.

ALLEGED DISCRIMINATION LAWSUIT

In January
January
2017, the United States
United States
sued the company, accusing it of discriminating against "thousands" of black and Hispanic
Hispanic
mortgage borrowers between 2006 and at least 2009.

STAFF SUICIDE

28 January
January
2014, around 8 am, Gabriel Magee, a male American , senior IT programmer , aged 39, jump down 500 feet from the roof of the 33-story 25 Bank
Bank
Street, the European headquarter in Canary Wharf, London
London
, Gabriel Magee was found dead on the 9th floor roof , which partially surrounds 25 Bank
Bank
Street building .

OFFICES

Although the old Chase Manhattan
Manhattan
Bank
Bank
's headquarters were located at ONE CHASE MANHATTAN PLAZA (now known as 28 Liberty Street ) in downtown Manhattan
Manhattan
, the current world headquarters for JPMorgan Chase ">

JPMorgan Chase
JPMorgan Chase
Tower 270 Park Avenue New York City, New York *

277 Park Avenue
Park Avenue
New York City, New York *

383 Madison Avenue New York City, New York *

28 Liberty Street New York City, New York *

Chase Tower Rochester, New York *

Chase Tower Phoenix, Arizona
Phoenix, Arizona
*

Chase Tower Chicago, Illinois
Illinois
*

Chase Tower Indianapolis, Indiana *

Chase Tower Dallas, Texas *

JPMorgan Chase
JPMorgan Chase
Tower Houston, Texas *

JPMorgan Chase Metro Manila , Philippines *

25 Bank
Bank
Street London, United Kingdom

The Global Corporate Bank
Bank
leverages the wider firm's operations in 100 countries to provide corporate banking solutions to clients in the locations in which they operate. The main headquarters are in London
London
, with regional headquarters in Hong Kong, New York and Sao Paulo
Sao Paulo
.

The Card Services division has its headquarters in Wilmington, Delaware , with Card Services offices in Elgin, Illinois
Illinois
; Springfield, Missouri
Springfield, Missouri
; San Antonio, Texas
San Antonio, Texas
; Mumbai, India ; and Cebu, Philippines .

Additional large operation centers are located in Phoenix, Arizona
Phoenix, Arizona
; Los Angeles, California
Los Angeles, California
, Newark, Delaware ; Orlando, Florida
Orlando, Florida
; Tampa, Florida ; Indianapolis, Indiana ; Louisville, Kentucky
Louisville, Kentucky
; Brooklyn, New York ; Rochester, New York ; Columbus, Ohio
Columbus, Ohio
; Dallas, Texas ; Fort Worth, Texas ; and Milwaukee, Wisconsin
Milwaukee, Wisconsin
.

Operation centers in Canada
Canada
are located in Burlington, Ontario
Burlington, Ontario
; and Toronto, Ontario .

Operations centers in the United Kingdom are located in Bournemouth, Glasgow, London, Liverpool
Liverpool
, and Swindon
Swindon
. The London
London
location also serves as the European headquarters.

Additional offices and technology operations are located in Manila, Philippines ; Cebu, Philippines ; Mumbai, India ; Bangalore, India ; Hyderabad, India
Hyderabad, India
; New Delhi, India ; Buenos Aires, Argentina ; Sao Paulo, Brazil ; Mexico City, Mexico , and Jerusalem, Israel .

CREDIT DERIVATIVES

The derivatives team at JPMorgan (including Blythe Masters ) was a pioneer in the invention of credit derivatives such as the credit default swap . The first CDS was created to allow Exxon to borrow money from JPMorgan while JPMorgan transferred the risk to the European Bank
Bank
of Reconstruction and Development . JPMorgan's team later created the 'BISTRO', a bundle of credit default swaps that was the progenitor of the Synthetic CDO . JPMorgan currently has the largest credit default swap and credit derivatives portfolio by total notional amount of any US bank.

MULTIBILLION-DOLLAR TRADING LOSS

Main article: 2012 JPMorgan Chase trading loss

In April 2012, hedge fund insiders became aware that the market in credit default swaps was possibly being affected by the activities of Bruno Iksil , a trader for J.P. Morgan Chase "> , two traders face criminal proceedings. It is also the first time in several years that a major American financial institution has publicly admitted breaking the securities laws.

A report by the SEC was critical of the level of oversight from senior management on traders, and the FCA said the incident demonstrated "flaws permeating all levels of the firm: from portfolio level right up to senior management."

On the day of the fine, the BBC reported from the New York Stock Exchange that the fines "barely registered" with traders there, the news having been an expected development and the company having prepared for the financial hit.

ART COLLECTION

See also: J. P. Morgan § Collector of art, books, and gemstones

The collection was begun in 1959 by David Rockefeller , and comprises over 30,000 objects, of which over 6,000 are photographic-based, as of 2012 containing more than one hundred works by Middle Eastern and North African artists. The One Chase Manhattan Plaza building was the original location at the start of collection by the Chase Manhattan
Manhattan
Bank, the current collection containing both this and also those works that the First National Bank
Bank
of Chicago
Chicago
had acquired prior to assimilation into the JPMorgan Chase
JPMorgan Chase
organization. L. K. Erf has been the director of acquisitions of works since 2004 for the bank, whose art program staff is completed by an additional three full-time members and one registrar. The advisory committee at the time of the Rockefeller initiation included A. H. Barr , and D. Miller , and also J. J. Sweeney, R. Hale, P. Rathbone and G. Bunshaft.

MAJOR SPONSORSHIPS

* Chase Field
Chase Field
, (formerly Bank
Bank
One Ballpark) Phoenix, Arizona
Phoenix, Arizona
, – Arizona Diamondbacks
Arizona Diamondbacks
, MLB
MLB
. * Chase Center (San Francisco) - Golden State Warriors , NBA (Proposed) * Major League Soccer
Major League Soccer
* Chase Auditorium (formerly Bank
Bank
One Auditorium) inside of Chase Tower (Chicago) (formerly Bank
Bank
One Tower) * The JPMorgan Chase Corporate Challenge , owned and operated by JPMorgan Chase, is the largest corporate road racing series in the world with over 200,000 participants in 12 cities in six countries on five continents. It has been held annually since 1977 and the races range in size from 4,000 entrants to more than 60,000. * JPMorgan Chase
JPMorgan Chase
is the official sponsor of the US Open . * J.P. Morgan Asset
Asset
Management is the Principal Sponsor of the English Premiership Rugby 7s Series.

NOTABLE FORMER EMPLOYEES

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BUSINESS

* Winthrop Aldrich – son of the late Senator Nelson Aldrich * Andrew Crockett – former general manager of the Bank
Bank
for International
International
Settlements (1994–2003) * Pierre Danon – chairman of Eircom
Eircom
* Dina Dublon – member of the board of directors of Microsoft
Microsoft
, Accenture and PepsiCo and former Executive Vice President and Chief Financial Officer of JPMorgan Chase * Maria Elena Lagomasino – member of the board of directors of The Coca-Cola Company and former CEO of JPMorgan Private Bank * Jacob A. Frenkel – Governor of the Bank
Bank
of Israel * Thomas W. Lamont – acting head of J.P. Morgan border:solid #aaa 1px">

* New York City
New York City
portal * Companies portal

* Credit default swap: History * 2012 JPMorgan Chase trading loss * Palladium Card * Alayne Fleischmann

INDEX PRODUCTS

* JPMorgan EMBI * JPMorgan GBI-EM Index

REFERENCES

* ^ "Board of Directors". JPMorgan Chase
JPMorgan Chase
& Co. Retrieved June 19, 2013. * ^ " JPMorgan Chase
JPMorgan Chase
& Co (JPM) People". Reuters. Retrieved June 19, 2013. * ^ A B C D E F G "2015 annual results". JPMorgan Chase
JPMorgan Chase
& Co. * ^ Maxfield, John (30 May 2017). "A Foolish Take: The World’s Most Valuable Bank
Bank
Brand … Is Now In China -- The Motley Fool". The Motley Fool. * ^ http://www.icbc.com.cn/icbc/en/newsupdates/icbc%20news/ICBCBecomestheWorldsMostValuableBankingBrand.htm. Missing or empty title= (help ) * ^ "The World\'s Biggest Companies". Forbes. April 18, 2012. Retrieved July 17, 2011. * ^ "World\'s Largest Hedge Funds". Market Folly. * ^ A B C "History of Our Firm". JPMorganChase. * ^ Accessed November 30, 2016. * ^ de la Merced, Michael J. (June 16, 2008). "JPMorgan’s Stately Old Logo Returns for Institutional Business". The New York Times. Retrieved December 14, 2009. * ^ "67419jp_text_pdf:67419jp_text_pdf" (PDF). Retrieved June 19, 2013. * ^ Jimmy Lee\'s Global Chase Archived June 28, 2011, at the Wayback Machine .. The New York Times, April 14, 1997 * ^ Kingpin of the Big-Time Loan. The New York Times, August 11, 1995 * ^ "A Proposal for the Resolution of Systemically Important Assets and Liabilities: The Case of the Repo Market". federalreserve.gov. The Federal Reserve Board. Retrieved September 30, 2014. * ^ Guerrera, Francesco (March 16, 2008). "Bear races to forge deal with JPMorgan". Financial Times. Retrieved March 16, 2008. * ^ Quinn, James (March 19, 2008). " JPMorgan Chase
JPMorgan Chase
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* ^ "title=JP Morgan bankers hold minute's silence for technology chief Gabriel Magee who plunged to his death from Canary Wharf headquarters content=

* Gabriel joined JPMorgan in 2004 and worked in technology. He was not a trader or a banker * The bank worker who died after falling from the roof of JP Morgan's European headquarters in Canary Wharf on Tuesday morning has been named as Gabriel Magee, a senior IT programmer * He landed on the roof of a ninth-floor podium of the building at 25 Bank
Bank
Street and was pronounced dead at the scene by paramedics

source=www.independent.co.uk/news/business/news/jp-morgan-employee-killed-in-fall-from-banks-london-office-in-canary-wharf-named-as-gabriel-magee-9091649.html from google (25 Bank
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Whale Probes. Bloomberg. Retrieved December 6, 2013. * ^ Gandel, Stephen. Did the SEC let JPMorgan off the hook? Archived September 22, 2013, at the Wayback Machine .. Fortune , September 20, 2013. * ^ jpmorganchase - July 31, 2007 release id :257378 - about/art & About-JPMC. Retrieved February 3, 2012 * ^ La Lettre (de la photographie) entries/4727. Retrieved February 4, 2012 * ^ MENA. Retrieved February 3, 2012 * ^ Bridges, Steven (May 25, 2010). "Spotlight: JPMorgan Chase
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Art Collection". Chicago
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1, 2008 - High Beam Research (Cengage Learning) firstly sourced at Apollo Magazine, 22 Old Queen Street, London, SW1H 9HP.. Retrieved February 4, 2012 * ^ "JP MORGAN Collected Visions". Pera Museum. Archived from the original on March 4, 2012. Retrieved February 3, 2012. * ^ Dobrzynski, Judith H. (November 24, 2008). "Players: Marjorie Magner". Forbes
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