JPMorgan Chase & Co. is an American multinational banking and financial services holding company. It is the largest bank in the United States, with total assets of US$2.509 trillion. It is a major provider of financial services, and according to Forbes magazine is the world's third largest public company based on a composite ranking. The hedge fund unit of JPMorgan Chase is the second largest hedge fund in the United States. The company was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.
The J.P. Morgan brand, historically known as Morgan, is used by the investment banking, asset management, private banking, private wealth management and treasury & securities services divisions. Fiduciary activity within private banking and private wealth management is done under the aegis of JPMorgan Chase Bank, N.A.—the actual trustee. The Chase brand is used for credit card services in the United States and Canada, the bank's retail banking activities in the United States, and commercial banking. The corporate headquarters are in 270 Park Avenue, Midtown, Manhattan, New York City, New York, and the retail and commercial bank is headquartered in Chase Tower, Chicago Loop, Chicago, Illinois, United States. JPMorgan Chase & Co. is considered to be a universal bank.
JPMorgan Chase is one of the Big Four banks of the United States with Bank of America, Citigroup and Wells Fargo.According to Bloomberg, as of October 2011 JPMorgan Chase surpassed Bank of America as the largest U.S. bank by assets. Its predecessor, the Bank of the Manhattan Company, was the 22nd oldest bank in the world.