The firm is developed on the foundation of more than 1,200 predecessor organizations that have come together via the years to form today"s agency.
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We map our roots to 1799 in New York City, and also our many kind of popular heritage firms encompass J.P. Morgan & Co., The Chase Manhattan Bank, Bank One, Manufacturers Hanover Trust Co., Chemical Bank, The First National Bank of Chicearlier, National Bank of Detroit, The Bear Stearns Companies Inc., Robert Fleming Holdings, Cazenove Group and also the service gained in the Washington Mutual transactivity. Each of these firms, in its time, was very closely tied to creations in finance and the expansion of the UNITED STATE and worldwide economic situations.
Explore the timeline below and visit our video library to learn even more about the firm’s background.
1799The Manhattan Company kind of is founded
The Manhattan Company, JPMorgan Chase"s earliest predecessor institution, is hired by the New York State legislature to supply "pure and also wholesome" drinking water to the city"s thriving population. Among its founders are Alexander Hamilton and also Aaron Burr.
A provision in the charter allows The Manhattan Company kind of to usage its surplus capital for banking operations. Within 5 months, The Bank of The Manhattan Company opens up for company, coming to be the second commercial bank in New York City after Hamilton’s Bank of New York. With his banking monopoly broken, Hamilton severs his association through the water company.
1804 The Hamilton – Burr duel
Manhattan Company founder Aaron Burr difficulties his personal and political devil, Alexander Hamilton, to a duel. The two males satisfy at dawn on July 11th in Weehawken, New Jersey, across the Hudkid River from New York City. Hamilton is mortally wounded and dies the following morning.
The pistols schosen by Hamilton for the duel were owned by his brother-in-law, John B. Church. In 1930 The Bank of The Manhattan Company purchases them from among Church"s descendants.
1807First philanthropic endeavor
The Manhattan Company type of grants New York City’s volunteer fire suppliers cost-free access to its network-related of water pipes to fight fires, contributing to the community’s public safety.
The New York Manufacturing Company kind of is incorporated
The New York Manufacturing Company, the earliest predecessor in Manufacturers Hanover’s family tree, is developed to create tools and also components for the textile market. The company’s charter permits it to conduct a banking procedure, equivalent to The Manhattan Company"s instance, and it establishes Phenix Bank in 1817.
1817The Bank of The Manhattan Company funds the Erie Canal
The Bank of The Manhattan Company kind of is an essential lender for the construction of the Erie Canal, which opens in 1825 linking the Hudkid River to the Great Lakes. Later in the century the financial institution provides funds to support interemainder payments on Erie Canal bonds and also to enlarge and also modernize the canal.
1823The New York Chemical Manufacturing Company kind of opens
New York City sellers organize the New York Chemical Manufacturing Company type of to produce chemicals, medicines, paints and also dyes. The company"s charter prohibits banking activities yet a year later the agency secures an amendment permitting it to establish a banking subsidiary called The Chemical Bank.
1839 Bank of Commerce opens
The Bank of Commerce opens in New York City. This institution, which merges through the Guaranty Trust Company type of of New York in 1929, is the earliest predecessor on the J.P. Morgan family tree.
1853 The New York Clearing Housage brings effectiveness to banking
The New York Clearing Housage is organized, with numerous JPMC predecessors as charter members, to systematize the daily settling of checks drawn on various other local banks. Previously, messengers went from bank to financial institution to profession checks for cash, a time-consuming and also risky procedure. Centralized clearing greatly reduces the variety of transactions and risk among member banks. More than $20 million is cleared on its initially day of operation.
1853 Abraham Lincoln becomes a customer
Springarea Naval and also Fire Insurance Company kind of opens in 1851 to insure shipping vessels and also products, but it also provides a variety of banking services. Illinois lawyer Abraham Lincoln opens a bank account there 2 years later through an initial deposit of $310. Lincoln keeps his account in Springfield with his presidential years till his assassicountry. The firm later evolves right into Maritime Corporation, a Bank One predecessor.
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1854 Junius Mbody organ begins service in London
Junius S. Mbody organ, patriarch of the Morgan banking household, moves to London and also joins the exclusive banking firm George Peabody & Co. It becomes the leading marketer of Amerihave the right to securities in England and also Europe, elevating funding for the initially transatlantic telegraph cable in 1858 among various other important deals. The firm is restyled J. S. Morgan & Co. in 1864 and proceeds as a vital connection in the J.P. Mbody organ global banking network-related through the end of the century.
1857 The Panic of 1857
A financial panic causes 18 New York City banks to cshed on a solitary day and also ushers in a serious economic depression. Many banks suspfinish “specie payments” however Chemical Bank proceeds to redeem banknotes in gold coin, helping to stabilize the financial industries and also earning it the nickname “Old Bullion.”