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JPMorgan Chase & Co. (NYSE: JPM) is an American
multinational banking corporation of securities, investments and retail. It is
the largest bank in the United States by assets. It is a major provider of
financial services, with assets of $2 trillion and according to Forbes magazine
is the world's second largest public company based on a composite ranking. The hedge fund unit of JPMorgan Chase is one of the largest hedge funds in the
United States. It was formed in 2000, when Chase Manhattan Corporationmerged
with J.P. Morgan & Co.
The J.P. Morgan brand is used by the investment
banking as well as the 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 Bank, N.A.—the actual trustee. The Chase brand is used for
credit card services in the United States and Canada, the bank's retail banking
activities in the United States, and commercial banking. The corporate
headquarters are in 270 Park Avenue, Midtown, Manhattan, New York City,New
York, and the retail and commercial bank is headquartered in Chase Tower,
Chicago Loop, Chicago, Illinois, United States.
JPMorgan Chase is one of the Big Four banks of the
United States with Bank of America,Citigroup and Wells
Fargo.According to Bloomberg, as of October 2011 JPMorgan
Chase surpassed Bank of America as the largest U.S. bank by assets.Through
its predecessor, the Bank of the Manhattan Company, it is the 22nd oldest bank
in the world.