J.P. Morgan Chase Essay examples

4763 Words Apr 7th, 2007 20 Pages
J.P. Morgan Chase & Co. Is a conglomerate company with a very specific purpose. According to their website, the mission and values of J.P. Morgan Chase is "To be the most profitable, respected and influential investment bank in the world for the long term." To adequately quantify a company's mission or its vision, the firm must first determine, at the strategic level, what its core principles are. J.P. Morgan Chase is a firm with very specific business principles that they believe are at the very core of achieving their mission. Many of these basic principles include: Aspire to be the best, Execute superbly, Build a great team and a winning culture. (J.P. Morgan business goals).
The company defines these goals, and sets pace to
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Morgan was also able to bring investors to the businesses he took over because of his background in banking and financing. (J.P. Morgan Chase, 2007). In 1895, during the last mercantile and credit crisis of the 19th century, Morgan was able to save the U.S. government from default, save the gold standard, and briefly managed to control the flow of gold in and out of the U.S. The Federal Treasury was almost out of gold, so President Cleveland arranged for Morgan to form a syndicate to buy gold in Europe and supply the U.S. Treasury with $65 million in gold. In 1907, during a financial panic, J. P. Morgan saved several trust companies and leading brokerage houses from insolvency, bails out New York, and rescues the New York Stock Exchange. Sometime in the 1920s-1930s, Chase National Bank merged with Equitable Trust Company of New York, which was controlled by the Rockefeller family. The merger created the world's largest bank in terms of assets and deposits. It was also one of the industry's larger overseas branch systems with companies in Mexico City, London, Paris, Hong Kong, and Shanghai. In 1965, banks were starting to open branches outside the United States and 5 out of 12 of those were J.P. Morgan. In 1978, to further serve clients across the border, J.P. Morgan & Co. augmented its long standing offices

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