New York City, New York, United States--JPMorgan Chase & Co., an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware, which serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients; confirmed by the latest rankings from the G20's Financial Stability Board," it sets the world record for being the World's Most systemically important bank, according to the WORLD RECORD ACADEMY.
"JPMorgan Chase & Co. (NYSE: JPM) serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands," says the official website.
"John Pierpont Morgan Sr. (April 17, 1837 – March 31, 1913)[1] was an American financier and investment banker who dominated corporate finance on Wall Street throughout the Gilded Age. As the head of the banking firm that ultimately became known as J.P. Morgan and Co., he was the driving force behind the wave of industrial consolidation in the United States spanning the late 19th and early 20th centuries.
"Over the course of his career on Wall Street, J.P. Morgan spearheaded the formation of several prominent multinational corporations including U.S. Steel, International Harvester and General Electric which subsequently fell under his supervision. He and his partners also held controlling interests in numerous other American businesses including Aetna, Western Union, Pullman Car Company and 21 railroads. Due to the extent of his dominance over U.S. finance, Morgan exercised enormous influence over the nation's policies and the market forces underlying its economy. During the Panic of 1907, he organized a coalition of financiers that saved the American monetary system from collapse.
"As the Progressive Era's leading financier, J.P. Morgan's dedication to efficiency and modernization helped transform the shape of the American economy. Adrian Wooldridge characterized Morgan as America's "greatest banker". Morgan died in Rome, Italy, in his sleep in 1913 at the age of 75, leaving his fortune and business to his son, John Pierpont Morgan Jr. Biographer Ron Chernow estimated his fortune at $80 million (equivalent to $2.2 billion in 2021)." (Wikipedia)
"JP Morgan remains the world's most systemically important bank according to the latest rankings from the G20's Financial Stability Board," Reuters reports.
"The Financial Stability Board began the annual rankings after the global financial crisis over a decade ago, requiring the world's biggest lenders to hold an extra buffer of capital, calibrated across five 'buckets', and undergo tougher scrutiny of operations.
"JP Morgan remains in bucket 2 - there is still nobody in the top category with most capital requirements."
"JPMorgan Chase & Co. is an American multinational investment bank and financial services holding company headquartered in New York City and incorporated in Delaware. As of 2022, JPMorgan Chase is the largest bank in the United States, the world's largest bank by market capitalization, and the fifth largest bank in the world in terms of total assets, with total assets of US$3.774 trillion. Additionally, JPMorgan Chase is ranked 24th on the Fortune 500 list of the largest United States corporations by total revenue. It is considered a systemically important bank by the Financial Stability Board. (Wikipedia)
"As a "Bulge Bracket" bank, it is a major provider of various investment banking and financial services. It is one of America's Big Four banks, along with Bank of America, Citigroup, and Wells Fargo. JPMorgan Chase is considered to be a universal bank and a custodian bank. The J.P. Morgan brand is used by the investment banking, asset management, private banking, wealth management, commercial banking, and treasury 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 the bank's retail banking activities in the United States and United Kingdom. Commercial Banking at JPMorgan Chase operates under both the Chase and J.P. Morgan brands. The bank's corporate headquarters are currently located at 383 Madison Avenue in Midtown Manhattan, New York City, since the prior headquarters building directly across the street, 270 Park Avenue, was demolished and a larger replacement headquarters is being built on the same site.
"The current company was originally known as Chemical Bank, which acquired Chase Manhattan and assumed that company's name. The present company was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co."
World's Most Systemically Important Bank: JP Morgan Chase & Co.
Stock price: JPM (NYSE)
Headquarters: New York, New York, United States
Founded: December 31, 2000, New York, New York, United States
website:
https://www.jpmorgan.com/global
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