J.P. Morgan Company, which constitutes new york Morgan Guarantee Trust Company, was established in 1860 and named after J. pierpont Morgan. At the beginning of the company, it was just a personal office, specializing in foreign exchange trading. Then the business continued to develop.
1864 was renamed as Dabney Morgan Company, 187 1 was renamed as drexel Morgan Company, and 1895 was renamed as J.P. Morgan Company. Since its early days, the company has been closely related to the historical events in American financial circles.
During the first world war, the company made a fortune by taking over the financial business from the United States to Western Europe. According to 1933 Banking Law, Morgan Company was changed into a commercial bank, and the original investment banking business was handed over to Morgan Stanley. After 1940, Morgan Company was changed from a partnership company to a joint stock limited company and began to operate trust business.
New york Guarantee Trust Company was established in 1864, and 1896 was renamed as new york Guarantee Trust Company. 19 10 merged Morton Trust Company and Fifth Avenue Trust Company, 19 12 merged Standard Trust Company, and 1929 merged commercial banks.
After World War II, the competition in American banking became increasingly fierce. Morgan Company and new york Guarantee Trust Company merged into new york Morgan Guarantee Trust Company, which strengthened its strength and enabled it to compete more effectively.
At the end of 1960s, J.P. Morgan Company was established as the holding company of Morgan Bank-new york Morgan Guarantee Trust Company, and its business scope was further expanded. In order to adapt to the changes of domestic and international financial markets, the company has established some new subsidiaries, including 197 1 renamed Morgan Social Development Company, 198 1 established Morgan Futures Company and 1986 established JPMorgan Chase Securities Company.
Chase Manhattan Company is a Manhattan company established in 1799 to supply water to new york City. By 1922, Chase Manhattan Company had become the national leader in industrial and commercial loans and the largest bank in the United States within six years.
Since 1990s, with the arrival of information wave, the company's business scope has been further expanded, such as launching online banking to provide users with more convenient credit card services. The bank's business has spread all over the world, but the company has always been in line with the principles of sincerity, justice and fairness, providing quality services to thousands of customers in Qian Qian around the world.
J.P. Morgan Company is a British commercial bank established by John Pierpont Morgan's father in London. /kloc-at the end of 0/9 and the beginning of the 20th century, the company played an important role in the start-up and financing of some well-known enterprises, including American steel, general electric appliances and American telephone and telegraph.
Fleming Group is a global investment banking group headquartered in London, and all its Asian businesses operate under the name of Jardine Matheson, and Jardine Matheson Securities is the first investment banking group in the region jointly established by Fleming and Jardine Matheson in 1970.
The merged JPMorgan Chase mainly conducts business in two major areas:
One is to provide global financial wholesale business for enterprises, institutions and wealthy individuals in the name of JPMorgan Chase;
The second is to provide retail banking services to 30 million customers in the United States under the brand of "Chase Bank". Its financial services include stock issuance, M&A consulting, bonds, private banking, asset management, risk management, private placement and fund management.
In 2004, JPMorgan Chase acquired the First Bank of Chicago and appointed Jamie Dimon, CEO of the First Bank of Chicago, as the chief operating officer, becoming the successor of the current CEO. This corporate brand ranks 72nd in the 2006 Top 500 World Brands compiled by the World Brand Lab and 38th in the 2006 Global 100 Big Companies Ranking published by Barron's Weekly. This enterprise ranked 3rd1in the ranking of Fortune 500 enterprises in 2007.
On June 14, 2004, the Federal Reserve issued a statement approving the merger plan of Bank of JPMorgan Chase and the First Bank of the United States. The total assets of the merged New JPMorgan Chase Bank reached $65,438+0.10.02 trillion, surpassing Bank of America in one fell swoop, and only one step away from Citigroup, the largest bank with assets of $65,438+0.10.09 trillion. Its business will also expand from New York to the whole midwest, becoming the second truly cross-regional bank after Citigroup. March into China
JPMorgan Chase's long history in China market can be traced back to the early 20th century. 1909, JP Morgan is the bond underwriter of Huguang Railway. During the period of 1920, Chase Bank opened offices in Shanghai and Tianjin to provide financial services to local and foreign institutions.
The relationship between JPMorgan Chase and New China began at 1973, when david rockefeller, then chairman of Chase Bank, led the first American business delegation to visit China. Chase Bank became the first American correspondent bank of China Bank in that year, and became one of the first American banks to open an office in Beijing on 1982.
JPMorgan Chase has been in Hong Kong for 30 years, and has been rated as the best and most influential investment bank in Hong Kong for many times, and has rich experience in carrying out complex listing and issuance in Hong Kong.
199165438+1October, JPMorgan Chase served as the joint global coordinator and successfully issued TraHK. JPMorgan Chase played an important role in this $4.3 billion transaction, and received the highest institutional demand among the underwriting syndicate, accounting for 32% of the total orders of institutional investors and 6.4% of retail orders. Since 1987, JPMorgan Chase has been investing and developing investment banking business in China, underwriting many projects issued by state-owned enterprises, including a number of H-share reorganization and listing projects: Huaneng International Power, Anhui Conch, Chengyu Expressway and so on. B shares, Yitai Coal Mine in Inner Mongolia, etc. , and n shares of Huaneng International Power.
In May 2008, JPMorgan Chase served as the co-lead bank and bookkeeper in the issuance of 1 USD 10 bonds issued by the Ministry of Finance of China. Previously, he also served as the lead underwriter of $6,543.8 billion century bonds and $500 million 7-year global bonds of the Ministry of Finance. In 2000, JPMorgan Chase served as the financial advisor of Huaneng International's acquisition of Shandong Huaneng.
On June 5438+ 10, 2003, JPMorgan Chase was approved by China Securities Regulatory Commission and qualified as QF Ⅱ. This is another important step for JPMorgan Chase to enter China's financial market. Morgan Fleming, a fund company owned by JPMorgan Chase, signed an agreement with Shanghai SDIC to set up a joint venture fund company. As a commercial bank, JPMorgan Chase has obtained a license to engage in RMB business and foreign exchange, which provides a good foundation for its business in China, including investment banking.
20 1 1 In June, JPMorgan Chase and First Venture Securities Co., Ltd. jointly established First Venture JPMorgan Chase Securities Co., Ltd. announced that it had obtained the securities business license issued by China Securities Regulatory Commission (China Securities Regulatory Commission). With this license, Yichuang Morgan will conduct securities market business in China.
20 10 12, China Securities Regulatory Commission approved the establishment of Yichuang Morgan, in which First Venture holds 66.7% and JPMorgan Chase holds 33.3%. Headquartered in Beijing, the company is engaged in underwriting and sponsoring domestic stocks and corporate bonds.
branch
By 20 12, JPMorgan Chase Bank (China) Co., Ltd. was headquartered in Beijing and had seven branches in China, namely Beijing Branch, Shanghai Branch, Tianjin Branch, Guangzhou Branch, Chengdu Branch, Harbin Branch and Suzhou Branch.
Top three in the Asia-Pacific region
Investment banking ranks in the top three in the Asia-Pacific region. For some time, although JPMorgan Chase is the second largest financial institution in the United States and a model of integrated financial services group, neither commercial banks nor investment banks have received much attention in China. What is the reason for it
JPMorgan Chase's commercial banking business is mainly wholesale banking business, with little retail banking business. Because in its business philosophy, doing wholesale business is more conducive to management. JPMorgan Chase also adhered to this principle in China, so it was not taken seriously by the public.
As far as investment banking is concerned, JPMorgan Chase and Chase Manhattan were both commercial banks before their merger in September 2000, although JPMorgan Chase has obtained special approval from the US Securities and Exchange Commission to engage in securities business. After the merger, investment banking in JPMorgan Chase started almost from scratch, especially in China.
After three years of hard work, JPMorgan Chase's investment banking business has achieved good results. In the global investment banks, equity financing and bond financing have achieved the top five results, entered the top three in the Asia-Pacific region, and have won the top spot in South Korea and Taiwan Province Province of China.
Only in June 5438+10, JPMorgan Chase did six businesses in the Chinese mainland market:
JPMorgan Chase is one of the global joint bookkeepers of the $6,543.805 billion bonds issued overseas by the China government.
In the project of China Telecom's acquisition of network assets in six provinces and cities from its parent company for nearly 80 billion yuan, JPMorgan Chase was an independent financial consultant.
CNOOC signed Gauguin project to acquire Australia, with an estimated amount of 300 million US dollars. JPMorgan Chase is one of the financial advisers;
For the $654.38+RMB 800 million convertible bond project issued by CITIC International Finance, JPMorgan Chase is the independent account book manager and global joint coordinator;
JPMorgan Chase is an independent bookkeeper and an independent global coordinator of the $654.38+0.5 billion convertible bond project invested and issued by CTS International.
In the acquisition of ZTE chip factory by Motorola, JPMorgan Chase served as the financial advisor of Motorola.
talent strategies
In order to recruit senior talents, JPMorgan Chase takes China market as the strategic development focus, and has more than 65,438+0/3 Asian employees in Greater China. JPMorgan Chase has stepped up its efforts in China, and hired several influential investment bankers from other institutions.
JPMorgan Chase adheres to the global chess game strategy, and uses the advantages of comprehensive financial holding to conduct all-round business in every part of the world. JPMorgan Chase's mortgage department recently laid off 1800 people.
20 13 On June 7th, Bank of JPMorgan Chase announced that it would cut about 1800 jobs in the mortgage sector nationwide. Two of them have the most layoffs, namely, albion, new york, where the entire call center is closed, and Tampa, Florida, where Bank of JPMorgan Chase hopes to achieve growth. According to relevant sources in the industry, on March 9, 20 14 19, JPMorgan Chase will sell its commodity trading business to Swiss energy trading company Mercuria Energy Group Ltd.
In February this year, two former Goldman Sachs executives revealed to foreign media that Mercuria Energy has been negotiating with JPMorgan Chase executives to acquire JPMorgan Chase's commodity trading business unit, which was once one of the most powerful oil and metal departments on Wall Street.
At present, the terms of the whole agreement are not clear, but according to the report provided by JPMorgan Chase to potential buyers in June 5438+ 10 last year, the total value of the commodity trading business department is about $3.3 billion.
JPMorgan Chase declined to comment on Wednesday, and professionals said that Mercuria Energy would not reach an agreement immediately.
Due to increasing regulatory and political pressure, in 20 13, JPMorgan Chase officially decided to sell its multi-billion-dollar physical goods department in order to focus on its core business.