JPMorgan Chase & Co.
Company History
JPMorgan Chase History: Founding, Growth & Key Milestones
Founded 1799 in New York, New York, United States
When was JPMorgan Chase founded?
JPMorgan Chase was founded in 1799 in New York, New York, United States by Aaron Burr, Alexander Hamilton and John Pierpont Morgan, making it 227 years old.
- Founded
- 1799
- Founding place
- New York, New York, United States
- Founders
- Aaron Burr, Alexander Hamilton and John Pierpont Morgan
- Headquarters today
- New York, New York
- Milestones documented
- 13 (1799–2026)
- Current CEO
- Jamie Dimon
- Acquisitions
- 5
| Year | Event |
|---|---|
| 1799 | Manhattan Company Chartered |
| 1871 | Drexel, Morgan & Co. Formed |
| 1907 | Panic of 1907 |
| 1955 | Chase Manhattan Created |
| 2000 | Chase and J.P. Morgan Merge |
| 2004 | Bank One Merger |
| 2006 | Jamie Dimon Becomes CEO |
| 2008 | Bear Stearns Acquired |
| 2008 | Washington Mutual Operations Acquired |
| 2023 | First Republic Acquired from FDIC |
| 2025 | FY2025 Net Revenue of $182.447B |
| 2026 | Chase to Become Apple Card Issuer |
| 2026 | Co-Presidents Named |
- Where was JPMorgan Chase founded?
- JPMorgan Chase was founded in New York, New York, United States in 1799.
- Who founded JPMorgan Chase?
- JPMorgan Chase was founded by Aaron Burr, Alexander Hamilton and John Pierpont Morgan.
- When did JPMorgan Chase start?
- JPMorgan Chase was founded in 1799.
- How old is JPMorgan Chase?
- JPMorgan Chase is 227 years old as of 2026.
Founding Story
JPMorgan Chase is the product of more than a thousand predecessor institutions, but two lines matter most. The Chase side reaches back to the Manhattan Company, chartered in New York in 1799 with a water-supply mandate and a clause that let it open a bank. The Morgan side begins with Drexel, Morgan & Co. in 1871, which became J.P. Morgan & Co. and helped the U.S. Treasury through an 1895 gold shortage and banks through the Panic of 1907. Chase Manhattan and J.P. Morgan merged in 2000, and the 2004 Bank One merger brought in Jamie Dimon, who became CEO in 2006.
Founders
Aaron Burr
Aaron Burr, the New York lawyer and politician who later served as U.S. vice president, led the 1799 effort to charter the Manhattan Company. The charter was framed around supplying clean water to New York City, but a clause let the company use surplus capital for other lawful business, which it used to open the Bank of the Manhattan Company. That bank is the oldest predecessor in JPMorgan Chase's corporate history and merged with Chase National Bank in 1955. Aaron Burr was born in 1756.
Alexander Hamilton
Alexander Hamilton, the first U.S. Treasury Secretary, is linked to JPMorgan Chase's history through his involvement in the 1799 Manhattan Company charter effort alongside Aaron Burr. He is better known for founding the Bank of New York in 1784, which is now part of BNY rather than JPMorgan Chase. He is listed here as a historical figure connected to the predecessor charter, not as a founder of the modern firm. (Exact birth year remains publicly undisclosed).
John Pierpont Morgan
J. Pierpont Morgan co-founded Drexel, Morgan & Co. with Anthony Drexel in 1871, the partnership that became J.P. Morgan & Co. in 1895. The firm financed railroads and organized industrial combinations such as U.S. Steel in 1901. Morgan also arranged a 1895 gold loan to the U.S. Treasury and coordinated private support for banks during the Panic of 1907. J.P. Morgan & Co. merged with Chase Manhattan in 2000 to form today's JPMorgan Chase. (Exact birth year remains publicly undisclosed).
Key Milestones
Manhattan Company Chartered
Aaron Burr and Alexander Hamilton led the effort to obtain a New York charter for the Manhattan Company. A provision allowing directors to use surplus capital for lawful activities enabled the company to establish the Bank of the Manhattan Company, the oldest predecessor in JPMorgan Chase's corporate history.
Source: en.wikipedia.orgDrexel, Morgan & Co. Formed
J. Pierpont Morgan and Anthony Drexel formed Drexel, Morgan & Co. in New York. The partnership developed into J.P. Morgan & Co., creating the Morgan banking lineage that would remain separate from Chase until the companies combined in 2000.
Source: en.wikipedia.orgPanic of 1907
During the Panic of 1907, J. Pierpont Morgan organized bankers and other private participants to support strained financial institutions. The episode became a defining part of the Morgan firm's history in an era before the Federal Reserve existed.
Source: en.wikipedia.orgChase Manhattan Created
The Bank of the Manhattan Company merged with Chase National Bank to form Chase Manhattan Bank. This combination joined the firm's oldest 1799 predecessor with the Chase name and created the institution that later merged with J.P. Morgan.
Source: en.wikipedia.orgChase and J.P. Morgan Merge
Chase Manhattan and J.P. Morgan & Co. completed their merger, combining commercial and consumer banking with investment banking and institutional services. JPMorgan Chase identifies this transaction as the formation of the modern company.
Source: en.wikipedia.orgBank One Merger
JPMorgan Chase completed its $58.546 billion stock-for-stock merger with Bank One on July 1. The deal expanded the consumer and middle-market franchise, improved geographic diversification, and brought Bank One Chairman and CEO Jamie Dimon in as president and chief operating officer.
Source: jpmorganchase.comJamie Dimon Becomes CEO
Jamie Dimon succeeded William B. Harrison Jr. as chief executive on January 1. Dimon had joined JPMorgan Chase as president and chief operating officer when the Bank One merger closed and became chairman one year after becoming CEO.
Source: jpmorganchase.comBear Stearns Acquired
JPMorgan Chase completed its acquisition of Bear Stearns during the financial crisis. The annual report recorded a total purchase price of approximately $1.496 billion, while a separate Federal Reserve Bank of New York arrangement financed a portfolio of Bear Stearns assets.
Source: jpmorganchase.comWashington Mutual Operations Acquired
After Washington Mutual Bank entered FDIC receivership, JPMorgan Chase paid $1.9 billion to acquire its banking operations, including assets, deposits, and qualified financial contracts under the transaction terms. The acquired network broadened Chase's retail presence in additional U.S. markets.
Source: archive.fdic.govFirst Republic Acquired from FDIC
JPMorgan Chase acquired the substantial majority of First Republic Bank's assets and assumed deposits and certain liabilities from the FDIC. Its transaction presentation disclosed a $10.6 billion cash payment to the FDIC and described the acquired loans, securities, and deposits.
Source: sec.govFY2025 Net Revenue of $182.447B
JPMorgan Chase reported U.S. GAAP total net revenue of $182.447 billion and net income of $57.048 billion. Its managed, fully taxable-equivalent segment presentation reported $185.581 billion of total net revenue across CCB, CIB, AWM, and Corporate.
Source: sec.govChase to Become Apple Card Issuer
On January 7, 2026 Apple and Chase announced that Chase will replace Goldman Sachs as Apple Card issuer over about 24 months.
Source: jpmorganchase.comCo-Presidents Named
Doug Petno and Troy Rohrbaugh were named co-presidents in June 2026, and Marianne Lake announced her retirement.
Source: jpmorganchase.comMajor Acquisitions
J.P. Morgan & Co.
2000Chase Manhattan and J.P. Morgan combined in a stock merger to unite Chase's commercial and consumer banking reach with the Morgan firm's investment-banking and institutional franchise. Because this transaction created the modern JPMorgan Chase through a merger rather than a simple cash acquisition, the acquisition value is recorded as zero instead of presenting an imprecise headline valuation.
Bank One Corporation
2004JPMorgan Chase completed its stock-for-stock merger with Bank One on July 1, 2004. The annual report recorded a $58.546 billion purchase price and said the combination was intended to create a more balanced business mix and greater geographic diversification. Bank One added a substantial consumer and middle-market banking franchise to JPMorgan Chase's institutional strengths.
The Bear Stearns Companies Inc.
2008JPMorgan Chase acquired Bear Stearns after the investment bank encountered an acute liquidity crisis. The 2008 annual report recorded a total purchase price of approximately $1.496 billion. The transaction was supported by a Federal Reserve Bank of New York financing arrangement involving a separate portfolio of Bear Stearns assets.
Washington Mutual banking operations
2008After Washington Mutual Bank was closed and placed into FDIC receivership, JPMorgan Chase acquired its banking operations in September 2008. The FDIC transaction materials state that JPMorgan Chase made a $1.9 billion payment and acquired the failed bank's assets and qualified financial contracts while assuming its deposits and certain other liabilities.
First Republic Bank
2023JPMorgan Chase acquired the substantial majority of First Republic Bank's assets and assumed deposits and certain other liabilities from the FDIC on May 1, 2023. The firm's transaction presentation identified a $10.6 billion cash payment to the FDIC; that cash payment, rather than the broader accounting consideration, is used as the acquisition value here.
Keep researching JPMorgan Chase
JPMorgan Chase Company History FAQ
What are the historic milestones across JPMorgan Chase's 225-year corporate evolution?
Key milestones include The Manhattan Company founding (1799), J.P. Morgan founding (1871), Panic of 1907 resolution, Glass-Steagall split (1933), Chase-J.P. Morgan merger (2000), Bank One merger (2004), Bear Stearns and WaMu acquisitions (2008), First Republic acquisition (2023), and 270 Park Avenue completion (2024).
How did JPMorgan Chase emerge as the winner of the 2008 Global Financial Crisis?
Because Jamie Dimon entered the crisis with a 'Fortress Balance Sheet,' JPMorgan Chase avoided toxic subprime mortgage write-downs that crippled rivals, rescued Bear Stearns and Washington Mutual, remained consistently profitable, and repaid its $25 billion TARP government loans early with interest.
What was the 2012 'London Whale' trading loss and how did JPM overhaul risk controls?
In 2012, a London-based Chief Investment Office synthetic credit trader incurred a $6.2 billion trading loss. CEO Jamie Dimon restructured risk management, overhauled internal value-at-risk models, and instituted stricter board oversight, returning the firm to record profitability.
When did Chase become the first bank with retail branches across all 48 contiguous US states?
In July 2021, Chase officially opened branches in Montana, becoming the first bank in American history to operate a physical branch network spanning all 48 lower US states.
What was the landmark launch of Chase Sapphire Reserve in August 2016?
In August 2016, Chase launched the Sapphire Reserve credit card. Offering a 100,000-point signup bonus and metal card design, the launch became a viral pop-culture phenomenon, with cards temporarily running out of metal stock and onboarding millions of affluent consumers.
How did JPMorgan Chase construct its all-electric 270 Park Avenue global headquarters?
Between 2021 and 2024, JPMorgan Chase constructed its 1,388-foot all-electric skyscraper at 270 Park Avenue in New York City, recycling 97% of materials from the demolished building and utilizing 100% renewable hydroelectric power.
How did JPMorgan Chase support small businesses during the COVID-19 pandemic with PPP loans?
During the 2020 pandemic crisis, JPMorgan Chase funded over $40 billion in federal Paycheck Protection Program (PPP) relief loans, more than any other financial institution, saving over 400,000 small businesses and millions of American jobs.
What is JPMorgan Chase's long-term vision for the future of global finance?
JPMorgan Chase envisions remaining the world's most trusted, technologically advanced, and well-capitalized financial institution, driving inclusive economic growth, financing the global energy transition, and deploying artificial intelligence to power global commerce.
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