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JPMorgan Chase & Co.
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== Operations == === How did the idea of the company come about? === The idea of JPMorgan Chase stems from the cooperation of more than 1200 predecessor institutions over hundreds of years. In 1799, the earliest predecessor institution, The Manhattan Company, was charted by the New York State legislature to provide clean water to the city's growing residence. One of the founders, Aaron Burr, added a clause to the charter, to allow the directors of The Manhattan Company to start a bank with excess capital, that is unused by the water company. The service continued until 1842, when New York established its own municipal water system, leading to the closure of The Manhattan Company's waterworks operations.<ref name=":02">https://www.jpmorganchase.com/about/our-history</ref> Meanwhile, the directors of The Manhattan Company, 6 months following the acceptance of the charter, formed The Bank of Manhattan Company. In 1955, The Bank of Manhattan Company merged with Chase National Bank, to form Chase Manhattan Bank, which combined Chase National’s strength in international, corporate, and correspondent banking with The Bank of The Manhattan Company's network of branches and retail banking expertise. In 1871, J. Pierpont Morgan united with Anthony Drexel to form Drexel, Morgan & Co., a private merchant banking house in New York City, renamed JPMorgan & Co later. In 2000, Chase Manhattan Bank merged with JPMorgan & Co. to form JPMorgan Chase & Co. and is now a multinational investment bank and financial services company.<ref name=":02">https://www.jpmorganchase.com/about/our-history</ref> === What is the mission of the company? === JPMorgan Chase aims to be the most respected financial services firm in the world, serving corporations and individuals in more than 100 countries.<ref>https://www.jpmorgan.com/about-us</ref> In particular, the company is committed to accelerating the economy through business and community investments and policy advocacy through the following:<ref name=":1">https://www.jpmorganchase.com/impact</ref> # '''Business Growth & Entrepreneurship''' - Give business solutions, coaching, and mentoring to aid small businesses create jobs, grow and scale.<ref name=":1" /> By investing $150 million over five years, they aim to expand opportunities for underserved entrepreneurs.<ref>https://www.jpmorganchase.com/impact/our-approach/small-business-expansion</ref> # '''Career & Skills''' - Helping to improve and train the workforce of today, including 280,000+ employees globally, for future generations and jobs. <ref name=":1" /> By investing $350 million over the next five years they aim to develop, test and scale innovative efforts that prepare individuals with the skills they need to be successful in a rapidly evolving economy.<ref>https://www.jpmorganchase.com/impact/our-approach/jobs-and-skills</ref> # '''Financial Health & Wealth Creation''' - JPMorgan Chase has already provided $125 million over five years to improve the financial health of those most in need.<ref name=":1" /> They plan to further expand financial coaching programs and supporting their non-profit partners, to help more people achieve financial stability and meet their long-term financial goals.<ref>https://www.jpmorganchase.com/impact/our-approach/financial-health</ref> # '''Community Development''' - Aiming to foster strong communities through support of vital institutions and create access to affordable housing and homeownership.<ref name=":1" /> By investing $400 million over 5 years, their aim is to focus on promoting housing stability and to improve housing affordability for Black, Latinx and other households of colour.<ref>https://www.jpmorganchase.com/impact/our-approach/neighborhood-development</ref> # '''Environmental Sustainability:''' Aiming to drive climate action, clean energy and sustainable resource management, and help clients' finance and accelerate their transition to a low-carbon economy.<ref name=":1" /> They want to promote sustainable development through the following:<ref name=":2">https://www.jpmorganchase.com/impact/sustainability</ref> ## '''Sustainable Solutions and Financing:''' Supporting clients and financing opportunities that advance the transition to a low-carbon economy and a more sustainable future.<ref name=":2" /> ## '''Operational Sustainability:''' Minimising the environmental impact of their operations, including from their corporate buildings, retail bank branches and data centres.<ref name=":2" /> ## '''Stakeholder and Policy Engagement:''' Engaging with stakeholders to identify and advance best practices and new opportunities.<ref name=":2" /> === What are the main offerings of the company? === JPMorgan Chase & Co. provides a wide range of offerings to individuals, businesses, and institutional clients. Some of the main services and products offered by JPMorgan Chase & Co. are: ==== 1. Consumer and Commercial Banking ==== Under the Chase brand, JPMorgan serve millions of people with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing.<ref>[https://www.chase.com/digital/resources/about-chase#:~:text=We're%20proud%20to%20serve,business%20loans%20and%20payment%20processing. https://www.chase.com/digital/resources/about-chase#:~:text=We're%20proud%20to%20serve,business%20loans%20and%20payment%20processing.]</ref> ==== 2. Retail Banking ==== JP Morgan offers various retail banking services, including checking and savings accounts, credit cards, mortgages, personal loans, and auto loans. ==== 3. Investment Banking ==== JP Morgan provides investment banking services to corporations, governments, and institutional clients. This includes advising on mergers and acquisitions, capital raising through debt and equity offerings, underwriting securities, and providing financial restructuring services. ==== 4. Asset Management ==== JP Morgan offers asset management services to institutional and individual investors. They provide investment solutions, portfolio management, and advisory services across various asset classes, including equities, fixed income, alternative investments, and multi-asset strategies. ==== 5. Private Banking ==== JP Morgan provides comprehensive wealth management services to high-net-worth individuals and families. This includes investment management, estate planning, trust and fiduciary services, lending solutions, and customized financial advice. ==== 6. Markets and Trading ==== JP Morgan has a strong presence in global markets and offers trading and sales services across various asset classes, including equities, fixed income, currencies, commodities, and derivatives. They serve institutional clients, corporations, and hedge funds. ==== 7. Treasury Services ==== JP Morgan provides treasury and cash management solutions to corporate and financial institution clients. Their services include liquidity management, payment processing, cash flow forecasting, and risk management solutions. ==== 8. Research and Insights ==== JP Morgan produces research reports, market analysis, and economic insights across different sectors and regions. This research helps clients make informed investment decisions and stay updated on market trends.
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