An American multinational banking corporation, J P Morgan Chase Bank has been a major provider of financial services and is one of the largest banks in the world. It is the largest bank in United States by sales, profits, assets and market value. J P Morgan Chase Bank is also the largest public company in the world with assets of US$2 trillion and operating around sixty countries. It was formed in 2000, when Chase Manhattan Corporation merged with J. P. Morgan & Co. While the corporate headquarters of J P Morgan Chase Bank are in 270 Park Avenue, Midtown, Manhattan, New York City, New York, the retail and commercial bank is headquartered in Chase Tower, Chicago Loop, Chicago, Illinois, United States. Today, J P Morgan Chase Bank is one of the Big Four banks of US, others being Bank of America, Citigroup and Wells Fargo.
J P Morgan Chase Bank is the largest bank in United States in terms of investment banking and financial services. After the merger of JP Morgan &Co with Chase Manhattan Corp. and Chemical & Manufactures Hanover in 2000, JP Morgan Chase Bank became the largest and oldest money centers in the United States. In a major step, J P Morgan Chase & Co. merged with Bank One Corp. in 2004. This bank is an important part in Dow Jones Industrial Average and is also listed in NYSE. J P Morgan Chase Bank has its clients ranging from individual customers to large corporations, institutions and various state and federal governments.
Presence in India
J P Morgan Chase Bank started its operations in India in 1930. J P Morgan Chase Bank has been a major foreign bank in India and since 1955 started to fund the shareholders of ICICI. The core areas of business of this bank are wholesale investment banking and advisory services for FII. It is being considered as one of the key players in future, options and derivative markets. The bank has become a leading dealer to RBI. Other special areas of this bank are treasury services and money market operations. Mumbai is the location of the headquarters of the Card Services division of JP Morgan Chase Bank, India. The technology and back office operations offices of JP Morgan Chase India are located in Bangalore, Delhi, Hyderabad and Mumbai. The bank has appointed more than 250 qualified financial professionals in India and also over 7000 offshore facility.
Products and Services
J P Morgan Chase Bank offer a wide range of business and financial services which includes investment banking, equities, futures, options, money markets, treasury services, Cash management services, Asset Management services, Invest Research Analysis etc. Being a leading global investment banker, this bank offers a full fledged access to Indian investors to various financial markets including New York, London and Hong Kong. J P Morgan Chase Bank is also known to provide advisory services to corporates regarding the restructuring of their finances, raising finance through various instruments and placing them in proper utilization. J P Morgan Asset Management & Co which is a subsidiary of J P Morgan Chase Bank & Co has launched and managed several mutual fund schemes in India.
JP Morgan Chase Bank India Head Office
J P Morgan Tower
Off CST Road
Mumbai - 400055