Throughout history, JP Morgan Chase & Co. has held a strong position of being a financial powerhouse and today remains one of the oldest and largest financial organizations in the world. It is assumed that working for JP Morgan Chase & Co. would be rewarding as they are not only one of the most financially profitable companies in the world but as they have a lengthy history which asserts their reliability and endurance. Analysis will be done on JP Morgan Chase & Co.’s internal structure and external environment to determine if seeking employment with them is a decision that is beneficial.
History
JP Morgan Chase traces its lineage back to September 1, 1799, when Aaron Burr founded the Bank of Manhattan Company in New York City. It was later merged with Chase National Bank, formed in 1877 by John Thompson, and became Chase Manhattan Bank in 1955. In July 1996, the bank was purchased and acquired by Chemical Bank, but retained its identity as Chase Manhattan as it was more widely recognized and renown. The bank was known as Chase Manhattan Bank until it purchased J.P. Morgan & Co. in …show more content…
They have gone so far as to question whether they should even be in the FHA Business and asserts that they will be cautious in that area of business as the risks are too high (JP Morgan Chase & Co., 2014). This is further collaborated by Amy Bonitatibus, a spokeswoman for JPMorgan Chase, who stated that the company has reduced FHA lending as they pose a greater risk of possible litigation and are more costly to service and have higher rates of delinquency along with harsh penalties imposed for violations by the Justice Department (Berry, 2015). Thus, JP Morgan Chase aims to retain customers who lessen their risks and improves their possibility of
History
JP Morgan Chase traces its lineage back to September 1, 1799, when Aaron Burr founded the Bank of Manhattan Company in New York City. It was later merged with Chase National Bank, formed in 1877 by John Thompson, and became Chase Manhattan Bank in 1955. In July 1996, the bank was purchased and acquired by Chemical Bank, but retained its identity as Chase Manhattan as it was more widely recognized and renown. The bank was known as Chase Manhattan Bank until it purchased J.P. Morgan & Co. in …show more content…
They have gone so far as to question whether they should even be in the FHA Business and asserts that they will be cautious in that area of business as the risks are too high (JP Morgan Chase & Co., 2014). This is further collaborated by Amy Bonitatibus, a spokeswoman for JPMorgan Chase, who stated that the company has reduced FHA lending as they pose a greater risk of possible litigation and are more costly to service and have higher rates of delinquency along with harsh penalties imposed for violations by the Justice Department (Berry, 2015). Thus, JP Morgan Chase aims to retain customers who lessen their risks and improves their possibility of