IBM vs JPMorgan Chase: Founders, CEOs and History

Company facts

Founders

CEOs and their tenures

Timeline: IBM 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. 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.

4. 1911IBM

   Computing-Tabulating-Recording Company Founded

   Charles Ranlett Flint merged the Tabulating Machine Company, International Time Recording Company, Computing Scale Company, and Bundy Manufacturing Company to form CTR - the company that would become IBM.

5. 1924IBM

   Renamed to International Business Machines

   Under Thomas J. Watson Sr. CTR was renamed International Business Machines Corporation (IBM), reflecting the company's growing international presence and ambition beyond tabulating machines.

6. 1952IBM

   IBM 701 - First Commercial Computer

   IBM launched the 701, its first commercially available electronic computer, marking the company's decisive entry into the electronic computing era and beginning its dominance of the mainframe market.

7. 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.

8. 1964IBM

   System/360 Launch

   IBM launched the System/360, a compatible family of computers spanning all price points. The $5 billion investment was the largest privately funded project at the time and established the mainframe industry standard for decades.

9. 1981IBM

   IBM Personal Computer Launch

   IBM introduced the IBM PC, which standardized personal computing architecture and created the PC industry. The open architecture decision inadvertently created the Wintel duopoly that would ultimately commoditize IBM's own PC business.

10. 1993IBM

    Lou Gerstner Arrives - Turnaround Begins

    Louis V. Gerstner Jr. Became CEO as IBM posted $8 billion in losses. His decision to keep IBM intact rather than break it up, and to pivot toward services, saved the company and redefined its business model for the next two decades.

11. 1997IBM

    Deep Blue Defeats Kasparov

    IBM's Deep Blue supercomputer defeated world chess champion Garry Kasparov, becoming the first computer to beat a reigning world champion in a full match and establishing IBM's brand in artificial intelligence.

12. 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.

13. 2004JPMorgan Chase

    Bank One Merger

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

14. 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.

15. 2008JPMorgan Chase

    Bear Stearns Acquired

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

16. 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.

17. 2019IBM

    Red Hat Acquisition Closes

    IBM completed the $34 billion acquisition of Red Hat, the largest software acquisition in history at the time. The deal anchored IBM's hybrid cloud strategy and provided the OpenShift platform as the foundation for enterprise Kubernetes.

18. 2021IBM

    Kyndryl Spinoff

    IBM spun off its managed infrastructure services business as Kyndryl Holdings, removing approximately $19 billion in low-margin revenue to focus the remaining company on higher-margin software and consulting.

19. 2023IBM

    Watsonx Platform Launch

    IBM launched watsonx, its enterprise AI and data platform combining foundation models (Granite), data management (watsonx.data), and AI governance (watsonx.governance). The platform represents IBM's AI strategy for the generative AI era.

20. 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.

21. 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.

22. 2026IBM

    Confluent Acquisition Closes

    IBM completed its roughly $11 billion acquisition of Confluent, adding real-time data streaming used by more than 6,500 enterprises to its AI and hybrid cloud software.

23. 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.

24. 2026JPMorgan Chase

    Co-Presidents Named

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

Acquisitions

Questions about IBM vs JPMorgan Chase