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36 Pages • Essays / Projects • Year Uploaded: 2021
JPMorgan Chase & Co Headquartered in New York City, JPMorgan & Chase (JPM) is a financial holding company that competes worldwide, serving customers for more than 200 years, making it one of the oldest financial intuitions in the USA. Considered to be the largest bank in the USA, JPM has total assets of more than $2.3 trillion and employs more than 240,000 people in more than 60 countries around the globe. JPM’s stock is one of the 30 components of the Dow Jones Industrial Average. The hedge fund unit of JPM is one of the largest in the USA. JPM in mid-2013 announced plans to stop trading in physical commodities, but in August 2013, JPM purchased the over-the-counter business in commodity derivatives of Switzerland’s UBS AG. The deal excluded precious metals and index-based trades, but included hedge positions on financial exchanges. Zurich-based UBS is closing the majority of its commodities "flow" trading business involving raw materials and financial derivatives as part of its slimming down and laying off 10,000 employees. JPM operates under two principle brands, (1) JPMorgan and (2) Chase. The JPMorgan brand focuses on large multinational corporations, governments, wealthy individuals, and institutional investors. The Chase brand is further divided into two distinct segments: (1) consumer business and (2) commercial banking business. The Chase consumer business includes such businesses as traditional bank branches, ATMs, credit cards, home finance, retirement and investing, and merchant services among others. The Chase commercial banking business includes such areas as business credit, corporate client banking, commercial term lending, and community development. The two JPM brands overlap so much in terms of regions and products that the company does not report revenues or income by the two brands
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