Bank of America vs JPMorgan Chase: Founders, CEOs and History
Bank of America was founded in 1904 by Amadeo Peter Giannini and is led by Brian Moynihan. JPMorgan Chase was founded in 1799 by Aaron Burr, Alexander Hamilton, John Pierpont Morgan and is led by Jamie Dimon.
Company facts
Bank of America
- Founded
- 1904
- Headquarters
- Charlotte, North Carolina
- Current CEO
- Brian Moynihan
- Employees
- 213,000
JPMorgan Chase
- Founded
- 1799
- Headquarters
- New York, New York
- Current CEO
- Jamie Dimon
- Employees
- 318,512
Founders
Bank of America
Amadeo Peter Giannini
The founding of Bank of America is arguably the most radical and socially disruptive story in the history of American finance. It was not founded by wealthy Wall Street aristocrats, but by A. P. Giannini, the San Jose born son of Italian immigrants.
JPMorgan Chase
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.
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.
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.
CEOs and their tenures
Bank of America
- Amadeo Peter Giannini1904–1945
Founder and Chairman
Giannini was born in San Jose, California, in 1870 to Italian immigrant parents and sold fruit and vegetables from a horse-drawn wagon before opening the Bank of Italy in San Francisco at the age of 34.
Source - Hugh L. McColl Jr.1998–2001
Chairman and Chief Executive Officer
McColl joined the company in 1959 as a management trainee and built NationsBank through interstate acquisitions before its 1998 combination with San Francisco based BankAmerica, which took the Bank of America name and created the first coast-to-coast U.S.
Source - Ken Lewis2001–2009
Chairman and Chief Executive Officer
Lewis joined the company in 1969 as a credit analyst, ran corporate strategy from 1999, and became chairman and chief executive officer on April 25, 2001 when Hugh McColl retired.
Source - Brian Moynihan2010–present
Chair of the Board and Chief Executive Officer
Moynihan became chief executive officer on January 1, 2010, after running the general counsel, consumer banking and wealth management units, and he also chairs the board.
Source
JPMorgan Chase
- William B. Harrison Jr.2000–2005
Former Chairman and Chief Executive Officer
Harrison's tenure connects the creation of modern JPMorgan Chase with the leadership structure that followed. He oversaw the first stage of integrating Chase and Morgan, then added Bank One's consumer and middle-market operations.
Source - Jamie Dimon2006–present
Chairman and Chief Executive Officer
Dimon's tenure established the operating and risk framework associated with JPMorgan Chase's scale. The company combines Consumer & Community Banking, Commercial & Investment Bank, and Asset & Wealth Management rather than relying on one earnings engine.
Source - Jeremy Barnum2021–present
Chief Financial Officer
He oversees capital, liquidity and financial reporting for a $4.9 trillion balance sheet.
Source - Doug Petno2026–present
Co-President and CEO, Commercial & Investment Bank
He oversees JPMorgan's largest segment by managed revenue, which produced $78.5 billion in FY2025.
Source - Troy Rohrbaugh2026–present
Co-President and CEO, Consumer & Community Banking
He now runs the Chase consumer franchise, which produced $76.0 billion of FY2025 managed revenue.
Source
Timeline: Bank of America and JPMorgan Chase side by side
1799JPMorgan Chase
Manhattan Company Chartered
Aaron Burr and Alexander Hamilton led the effort to obtain a New York charter for the Manhattan Company.
1871JPMorgan Chase
Drexel, 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.
1904Bank of America
Bank of Italy Founded: A.P. Giannini founded the Bank of Italy in San Francisco to expand access to banking for immigrants, wage earners, and small merchants.
1906Bank of America
San Francisco Earthquake Response: After the 1906 earthquake, Giannini resumed lending while much of San Francisco's banking system was disrupted.
1907JPMorgan Chase
Panic 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.
1930Bank of America
Bank of Italy Renamed Bank of America: The Bank of Italy changed its name to Bank of America on November 1, 1930.
1955JPMorgan Chase
Chase 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.
1958Bank of America
BankAmericard Introduced: Bank of America introduced BankAmericard in 1958, a revolving-credit card that later became part of the Visa system.
1998Bank of America
NationsBank and BankAmerica Merge: The 1998 merger of Charlotte-based NationsBank and San Francisco's BankAmerica created the first coast-to-coast U.S. bank under the Bank of America name.
2000JPMorgan Chase
Chase 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.
2004JPMorgan Chase
Bank One Merger
JPMorgan Chase completed its $58.546 billion stock-for-stock merger with Bank One on July 1.
2006Bank of America
MBNA Merger Completed: The MBNA merger expanded the card business to more than 40M active accounts and nearly $140B in managed balances, according to the company's January 2006 release.
2006JPMorgan Chase
Jamie 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.
2008Bank of America
Countrywide Acquisition Approved: The Federal Reserve approved Bank of America's acquisition of Countrywide in June 2008.
2008Bank of America
Merrill Lynch Acquisition Approved: The Federal Reserve approved the acquisition of Merrill Lynch in November 2008.
2008JPMorgan Chase
Bear Stearns Acquired
JPMorgan Chase completed its acquisition of Bear Stearns during the financial crisis.
2008JPMorgan Chase
Washington 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.
2014Bank of America
Mortgage Settlements With the Justice Department and FHFA: Bank of America agreed in August 2014 to a $16.65B settlement with the Justice Department over mortgage claims tied to Countrywide and Merril…
2018Bank of America
Erica Launched: Bank of America launched Erica in 2018 as an AI-enabled virtual assistant inside digital banking.
2023Bank of America
CFPB and OCC Orders on Fees, Rewards and Accounts: In July 2023 the CFPB ordered Bank of America to pay more than $100M to customers for repeat non-sufficient-funds fees, withheld credit card rewards…
2023JPMorgan Chase
First 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.
2025Bank of America
$113.1B FY2025 Revenue: The company reported $113.1B in total revenue net of interest expense and $30.5B in net income for FY2025.
2025Bank of America
Co-Presidents Named: On September 12, 2025 Bank of America named Dean Athanasia and Jim DeMare Co-Presidents and gave Chief Financial Officer Alastair Borthwick the added title of executive vice presi…
2025JPMorgan Chase
FY2025 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.
2026JPMorgan Chase
Chase 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.
2026JPMorgan Chase
Co-Presidents Named
Doug Petno and Troy Rohrbaugh were named co-presidents in June 2026, and Marianne Lake announced her retirement.
Acquisitions
Bank of America
- Countrywide Financial2008$4B
- Merrill Lynch2008$50B
- LaSalle Bank2007$21B
- MBNA2006$35B
- FleetBoston Financial2004$47B
- BankAmerica / NationsBank merger1998Undisclosed
JPMorgan Chase
- First Republic Bank2023$10.6B
- The Bear Stearns Companies Inc.2008$1.5B
- Washington Mutual banking operations2008$1.9B
- Bank One Corporation2004$58.5B
- J.P. Morgan & Co.2000Undisclosed
Questions about Bank of America vs JPMorgan Chase
Who is the CEO of Bank of America Corporation and JPMorgan Chase & Co.?
Bank of America Corporation is led by Brian Moynihan and JPMorgan Chase & Co. is led by Jamie Dimon. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Bank of America Corporation founded vs JPMorgan Chase & Co.?
JPMorgan Chase & Co. was founded in 1799 — 105 years before Bank of America Corporation, which was founded in 1904. JPMorgan Chase & Co.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Bank of America Corporation.
How many employees does Bank of America Corporation have compared to JPMorgan Chase & Co.?
Bank of America Corporation employs approximately 213,000 people, while JPMorgan Chase & Co. employs approximately 318,512. JPMorgan Chase & Co. has the larger workforce at 318,512 employees, compared to Bank of America Corporation's 213,000. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Bank of America Corporation and JPMorgan Chase & Co. headquartered?
Both Bank of America Corporation and JPMorgan Chase & Co. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Bank of America Corporation and JPMorgan Chase & Co.?
Bank of America Corporation was founded by Amadeo Peter Giannini. JPMorgan Chase & Co. was founded by Aaron Burr, Alexander Hamilton, John Pierpont Morgan.
Which company has a longer operating history — Bank of America Corporation or JPMorgan Chase & Co.?
JPMorgan Chase & Co. has been operating for approximately 227 years, making it the more established of the two companies. Bank of America Corporation has been in operation for around 122 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Bank of America vs JPMorgan Chase overview