From the railroad and steel consolidations brokered by John Pierpont Morgan on Wall Street more than a century ago, to banking consolidation, the financial crisis and Jamie Dimon’s leadership, J.P. Morgan Chase has been at the center of finance for more than a century. Here’s the story of how the country’s largest bank got to where it is today.
Biographer of J.P. Morgan Jean Strouse, longtime bank analyst Mike Mayo and CNBC banking reporter Hugh Son help tell the story. You’ll learn about how Aaron Burr and Alexander Hamilton are part of the bank’s history, along with the first ATM, and the company’s position moving forward into the future of digital banking.
Watch the video above to see how the country’s largest bank got to where it is today.
***Clarification*** Since 2004, investors in JPM stock have outperformed the bank stock index by an average of 6% return every year. That’s more than 6x the return of the index yearly (13:52)
In February, J.P. Morgan Chase announced it was in growth mode, expanding its branch network to cover 93 percent of the U.S. population by the end of 2022.
The aggressive growth plans will allow it to reach 80 million more consumers, or about one-quarter of the U.S. population, versus its footprint in 2018, the New York-based bank says.
The expansion of physical branches comes amid a consumer shift to mobile and online banking. The average number of teller transactions per customer has plunged 41 percent since 2014, according to J.P. Morgan’s presentation at its investor day meeting.
But convenient branch locations are a key consideration for people thinking about switching banks, and most of the firm’s growth in deposits has been fueled by people who use branches frequently, the bank said.
The company made it clear it had flexibility in its growth plans: More than 75 percent of its branches could be shuttered within five years or kept open for more than a decade.
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How JP Morgan Chase Became The Largest Bank In The US .
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How JP Morgan Chase Became The Largest Bank In The US
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Biggest bank in the world with a very ‘big head’. So big that they screw their customers without batting an eyelid, leaving their so-to-be ex-customers with so much grief and despair with all their screwups. I’m so glad I’ll never be a Chase customer ever again. I hope JP Morgan Chase would just disappear without causing financial fallout for their remaining customers and the world.
wow
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by criminals activities?
Even then Bernie was fighting the man! lol
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So incredible!!
920 million in fines for schemes to fraud in JP Morgan Chase Dept. of Justice case. See DOJ website Sept. 29, 2021
Don't tell dat Buffet. He might start to cry over his BoA.
Success is not built on success. It's built on failure, it's built on frustration. It's built on fear that you have to overcome. I pray anyone who reads this will be successful in life
Chase is the absolute WORST BANK EVER!!!!!!!!!!!!!!!!!!!!!!!!!!!! EVER! EVER! EVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! They are THIEVES!!!!
I want 6%
By taking America to WAR.
It's called bank bailouts!
Jpm should be broken up
Again I get it fed reserves , chase bank. Iv D. Corruption
Wasted my time watching
Funny how 200+ yrs of RIC0, Wire Fraud, Mail Fraud, Laundering gets free pass on National Stage, where is SEC, FB1, but poor little mom & pop gets book thrown at them for minor crime, doesn't get a single pass.. As this video is being made, biggest longest bull market, JPM last 4 years crashing GE price (JPM is GE price Market Maker), r0bb!ng GE shareholders, extracting major value assets, put their Agent as GE CEO. GE bought back s$45bn shares, JPM MM had to provided those huge shares (short sold off book)?? So the GE share price crash started etc etc etc.. Meanwhile JPM Analyst Tusa daily DOWNGRADING GE, so it helps panic, crash etc etc.. No SEC FB1 did anything last 4 yrs. Then JPM agent, new outsider Culp overnight became GE CEO, he then removed nearly $5+bn income producing GE Assets, thus help JPM keep GE shares beat up, help JPM cover their short, resulting in pocketing in difference of GE $30–$6 inbetween. How many wire, mail fraud, insider trade, defrauding GE Shareholders, Market Manipulation, then add agent Markapolos hit price GE sky is falling bigger than Enron, Worldcom. The guy then went hiding, who paid him, why he, Tusa, JPM are not being investigated for GE manipulation, damaging USA greatest company GE ??
People say it's the Corporations, no it's the Wllst Banks that are hurting the Corporations to swindle SHAREHOLDERS ownerships, values, money, profits, by moving around Corporations ASSETS values around from one company to another, P.Equity, Hedge Funds, who are extended arms of these JPM like banks.. Corporations like GE, ATT, GM, Ford, Steel, Rail, Aviation, Telcos, Energy, they and their SHAREHOLDERS are the true victims of JPM C0rruption, Market Manipulation, R0bbing.. Where is SEC, FB1, Gov Prosecutors, ignoring 200 yrs of $$$TRILLIONS and $$$TRILLIONS of Wire, mail frauds, R1CO, Insider fraud, Pyramid Scherms Pump & Dump Oil, Crypto, EV, DotCom, then swindling assets money from American Giant Corporations ATT, GE, GM, Ford, through spreading false negative NARRATIVES media Mouthpieces.
It's not what you know, but who you know. JPM has deep connections. Don't tell me enforcers with all the tools they have don't know a thing a single of the crimes involved..
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A man with a gun can rob a bank, a man with a bank can rob the world!
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Regarding the Titanic and JP:
It was WHO was on the ship that is more important then how it sunk! "John Jacob Astor IV, Benjamin Guggenheim, Isidor and Ida Straus were all opposed to the creation of The FEDERAL RESERVE! They we're on their way to a conference in New York. JP Morgan and family Canceled boarding at the last minute! All those Bankers are Trillionarie's now and WE the sheep have been in BONDAGE ever since, The Iceberg "COVER STORY" was a very good one but more than likely it was sabotaged from the inside! even the Hole in the side of the titanic you can see the metal was pushed OUT not IN All these people I mentioned was Fact they we're on board! ~Winston Churchill ~ once said " The farther one looks back the farther forward one can see"
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Who thinks central banks overall benefit, harm or are inconsequential for the average person?
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Nothing on Morgan helping create the federal reserve creating US currency independent of the government?, Yes it's privately owned (board of governors) 2008 showed no government agency kept track of what they were doing
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The name Wall Street is just Another way of saying Organized Crime.
I Know Blackrock is a shadow bank but isn’t it bigger then jpmorgan chase.
I pray whoever reads this should become successful. keep l for success. the rich stay rich by spending like the poor and investing why the poor stay poor and be spending like the rich yet not investing. Roar! Invest earn and be successful.