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JPMorgan Chase & Co.
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=== 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>
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