Chase Manhattan Bank is an American commercial bank, founded in 1799 and headquartered in new york. Chase Manhattan Bank mainly deals in credit cards and issues loans to buy houses and cars. On September 13th, 2, Chase Manhattan Bank merged with Morgan Bank. The acquisition will make Chase's investment banking business more stable. The merged new company ranks among the top in the world in syndicated loans, financial derivatives and foreign exchange trading.
1. Bank of JPMorgan Chase will be more active in corporate banking and trust business, while Morgan will focus more on asset management business. M&A is also an important step for Chase to enter the Japanese market. J.P. has no fixed income projects in Tokyo. Through the acquisition of Morgan, JPMorgan Chase immediately has a booming business of corporate mergers and acquisitions and securities underwriting. J.P. has a strong business strength in Hong Kong, and the business of both parties in Asia is highly complementary.
2. Generally speaking, JPMorgan Chase does not engage in retail business overseas. Around 1999, it merged the retail business in Hong Kong into the investment banking business. Now it is mainly engaged in wholesale and consulting business with companies and governments.
3. Its competitive advantage is also a good relationship network with domestic banks in China; Can provide one-stop service for local partner banks, such as seeking advice on merger or acquisition, or issuing bonds, or financing; Can be tailored to the needs of different banks, according to different needs to meet their needs for solutions; It has been the world's number one bank for overseas payment and settlement of US dollars for 1 consecutive years, and it is the largest foreign bank in Europe.
4. JPMorgan Chase brought its experience and strength in some specialized industries to China, such as financial institutions, electric power, oil and gas, pulp and paper industry and telecommunications industry. In May 21, JPMorgan Chase, as the global coordinator and lead underwriter, issued US$ 1 billion 1-year bonds for the People's Republic of China and China (called the best European bond of the year by IFR Asia). JPMorgan Chase also served as financial consultant for the acquisition of mobile phone network and paging/data network by China Unicom (Hongkong), a listed company of the second largest telecom operator in China.