Office address: 270 Park Avenue, New York, NY 10017
Website: www.chase.com
Year established: 1799
Company type: financial services
Employees: 29,000+
Expertise: personal banking, credit cards, mortgages, auto financing, investment advice, small business loans, payment processing, retail financial services, card services, commercial banking
Parent company: JPMorgan Chase
CEO and key people: Jamie Dimon (Chairman and CEO), Mark Weinberger (Director), Todd A. Combs (Independent Director), Jeremy Barnum (CFO & Executive VP), Daniel E. Pinto (President & COO), Lori A. Beer (CIO)
Financing status: N/A
Chase is a US-based financial and banking firm under JPMorgan Chase & Co. The bank has $2.6 trillion in assets and global reach and has over 4,700 branches worldwide. By April 2024, its market capitalisation has hit $525.27 billion, ranking it the 14th most valuable company in the world by market cap.
Chase was founded in 1799 by Aaron Burr, beginning as The Manhattan Company. It was designed to compete with Alexander Hamilton's Bank of New York. The company became the world’s largest bank in the mid-20th century by merging with Equitable Trust (1930) and Chase National (1955), while acquiring other banks.
Chase then merged with Chemical Bank in 1966 while retaining the Chase name. Chase’s continued growth was shown by its significant expansions through acquisitions like J.P. Morgan & Co. in 2000 and Bank One in 2004.
Chase's diverse product and service offerings demonstrate its commitment to catering to a wide array of financial needs:
Chase supports its employees’ wellbeing by providing competitive salaries, comprehensive health benefits, retirement plans, and opportunities for career advancement. Chase employees enjoy a range of benefits, including:
Chase is known for its commitment to creating an inclusive and supportive workplace. It focuses on diversity, equity, and inclusion (DEI) across all levels of their organization. This is evident through programs and initiatives aimed at supporting employees from various backgrounds, ensuring equal opportunities for growth and development.
Jamie Dimon has been CEO of Chase since 2005 and has also led the company as its chairman since 2006. Dimon has extensive leadership expertise even prior to his role at Chase, having been the Chair and CEO of Bank One for 4 years. He earned a Bachelor of Arts degree from Tufts University and has an MBA from Harvard Business School.
Dimon is supported by other key people at Chase:
Chase is advancing its "Digital Everything" strategy, integrating technology with banking to meet evolving consumer demands and enhancing its digital presence globally. Concurrently, it's expanding its physical branch network, planning 400 new locations to offer comprehensive banking experiences, both online and in-person. This blend of digital and physical channels, along with payments and consumer banking innovation, positions Chase for future competitiveness in the banking sector.
In the past two years, Chase has committed $12 billion annually towards technology, aiming to disrupt the financial industry with a team of 50,000 technologists. These efforts focus on mobile payments, cybersecurity, and leveraging AI for personalised services. This substantial investment in technology, alongside the expansion of its branch network across the US, signifies Chase's commitment to develop its customer needs.
Bank offers grants, low down payments, and homebuyer education
Banking giant agrees to buy billions worth of home loans originated at lower interest rates
Veteran to spearhead expansion of home lending services
Traders see increasing prospect of no change in central bank rate
Company says it's positioned to resume share buybacks late this year
Industry reacts to the announcement
An alternative is suggested…
Investors looking to get a read on mortgage rates this week
Latest project to add $210 million to economy
Bank ups homebuyer grants to $7,500 in targeted neighborhoods
