BP vs JPMorgan Chase: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: BP and JPMorgan Chase side by side

1. 1799JPMorgan Chase

   Manhattan Company Chartered

   Aaron Burr and Alexander Hamilton led the effort to obtain a New York charter for the Manhattan Company.

2. 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.

3. 1901BP

   D'Arcy Persian Concession

   William Knox D'Arcy obtains a 60-year oil concession from the Shah of Persia covering about 480,000 square miles, roughly three-quarters of the country, in exchange for £20,000 in cash, £20,000 in shares and 16% of annual profits.

4. 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.

5. 1908BP

   Discovery of Oil at Masjid-i-Suleiman

   After seven years of expensive and largely unsuccessful drilling, field manager George Reynolds strikes oil at Masjid-i-Suleiman in south-west Persia on May 26, 1908. It is the first commercial oil discovery in the Middle East.

6. 1909BP

   Anglo-Persian Oil Company Incorporated

   The Anglo-Persian Oil Company is formally incorporated in April 1909, with William Knox D'Arcy and the Burmah Oil Company as principal backers.

7. 1914BP

   British Government Acquires 51% Stake

   At the urging of Winston Churchill, First Lord of the Admiralty, the British government pays ~$2.9 million (£2.2 million) for a 51% stake in Anglo-Persian and signs a long-term fuel-oil supply contract for the Royal Navy, which is converting its fleet from coa…

8. 1954BP

   Renamed British Petroleum

   Following the 1953 resolution of the Iranian nationalization crisis and the Shah's restoration to power, the company renames itself British Petroleum Company.

9. 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.

10. 1970BP

    North Sea Forties Field Discovery

    BP discovers the Forties field in the UK North Sea, one of the largest oil fields ever found in British waters. Together with Alaska's Prudhoe Bay, it gives BP politically secure production just as Middle Eastern governments take control of their oil.

11. 1987BP

    UK Government Privatization Complete

    The Thatcher government completes the privatization of its remaining 31.5% stake in BP through a global share offering timed for October 1987 weeks before the global stock market crash known as Black Monday disrupted the sale and left underwriters with unsold…

12. 1998BP

    Merger with Amoco Corporation

    BP merges with Chicago-based Amoco Corporation in a deal valued at approximately $48.2 billion the largest industrial merger in history at the time.

13. 2000BP

    Beyond Petroleum Rebrand

    Under then-CEO Sir John Browne, BP launches the 'Beyond Petroleum' rebranding campaign, introducing the sunflower logo still in use today and publicly positioning the company as an energy company committed to addressing climate change.

14. 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.

15. 2004JPMorgan Chase

    Bank One Merger

    JPMorgan Chase completed its $58.546 billion stock-for-stock merger with Bank One on July 1.

16. 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.

17. 2008JPMorgan Chase

    Bear Stearns Acquired

    JPMorgan Chase completed its acquisition of Bear Stearns during the financial crisis.

18. 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.

19. 2010BP

    Deepwater Horizon Disaster

    The Deepwater Horizon drilling rig, operating on the Macondo well in the Gulf of Mexico under contract to BP, suffers a catastrophic blowout on April 20, 2010, killing 11 workers and triggering the largest marine oil spill in US history approximately 4.9 milli…

20. 2020BP

    Net-Zero Commitment and Dividend Cut

    Under new CEO Bernard Looney, BP sets a net-zero ambition for 2050 and, in August 2020, pledges to cut oil and gas production by 40% by 2030 and raise low-carbon investment to about $5 billion a year.

21. 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.

22. 2024BP

    Auchincloss Confirmed as CEO

    Murray Auchincloss, BP's CFO since 2020 and interim chief since Bernard Looney's September 2023 exit, is confirmed as permanent CEO in January 2024.

23. 2025BP

    Strategy Reset and Bumerangue Discovery

    In February 2025 BP cuts planned transition investment to $1.5-2 billion a year, raises upstream spending to about $10 billion a year and targets $20 billion of divestments and $14-18 billion of net debt by 2027.

24. 2025BP

    CEO Change and Castrol Sale Agreed

    On December 17, 2025 BP says Murray Auchincloss will step down and names Woodside Energy CEO Meg O'Neill as his successor from April 2026, with Carol Howle as interim CEO.

25. 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.

26. 2026BP

    O'Neill Takes Over and Simplifies BP

    Meg O'Neill becomes CEO on April 1, 2026. The board removes chair Albert Manifold on May 26 over governance and conduct concerns and names Ian Tyler interim chair, confirming him as permanent chair on September 2.

27. 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.

28. 2026JPMorgan Chase

    Co-Presidents Named

    Doug Petno and Troy Rohrbaugh were named co-presidents in June 2026, and Marianne Lake announced her retirement.

Acquisitions

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