Businessweek

JPMorgan Chase & Co. operates as a financial holding company in the United States of America. The company offers investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, asset management, and private equity. Under the J.P. Morgan and Chase brands, the company serves millions of customers in the U.S. and corporate, institutional and government clients. JPMorgan Chase’s principal bank subsidiaries are JPMorgan Chase Bank, National Association (JPMorgan Chase Bank, N.A.), a national bank with U.S. branches in 23 states; and Chase Bank USA, National Association (Chase Bank USA, N.A.), a national bank that is the company’s credit card–issuing bank. JPMorgan Chase’s principal nonbank subsidiary is J.P. Morgan Securities LLC (JPMorgan Securities), the company’s U.S. investment banking firm. The bank and nonbank subsidiaries of JPMorgan Chase operate nationally as well as through overseas branches and subsidiaries, representative offices and subsidiary foreign banks. One of the company’s principal operating subsidiaries in the United Kingdom (U.K.) is J.P. Morgan Securities plc, a wholly-owned subsidiary of JPMorgan Chase Bank, N.A. Segments The company’s activities are organized into four segments, as well as a Corporate/Private Equity segment. Its consumer business is the Consumer & Community Banking (CCB) segment. The Corporate & Investment Bank (CIB), Commercial Banking (CB), and Asset Management (AM) segments comprise the company’s wholesale businesses. Consumer & Community Banking The CCB segment serves consumers and businesses through personal service at bank branches and through ATMs, online, mobile and telephone banking. CCB is organized into Consumer & Business Banking, Mortgage Banking (including Mortgage Production, Mortgage Servicing and Real Estate Portfolios) and Card, Merchant Services & Auto (Card). Consumer & Business Banking offers deposit and investment products and services to consumers, and lending, deposit, and cash management and payment solutions to small businesses. Mortgage Banking includes mortgage origination and servicing activities, as well as portfolios comprised of residential mortgages and home equity loans, including the purchased credit impaired (PCI) portfolio acquired in the Washington Mutual transaction. Card issues credit cards to consumers and small businesses, provides payment services to corporate and public sector clients through its commercial card products, offers payment processing services to merchants, and provides auto and student loan services. Corporate & Investment Bank The CIB segment offers a suite of investment banking, market-making, prime brokerage, and treasury and securities products and services to a client base of corporations, investors, financial institutions, government and municipal entities. Within banking, the CIB segment offers a range of investment banking products and services in all major capital markets, including advising on corporate strategy and structure, capital-raising in equity and debt markets, as well as loan origination and syndication. Also included in banking is Treasury Services, which includes transaction services, comprised primarily of cash management and liquidity solutions, and trade finance products. The Markets & Investor Services segment of the CIB is a market-maker in cash securities and derivative instruments, and also offers risk management solutions, prime brokerage, and research. Markets & Investor Services also includes the Securities Services business, a global custodian which holds, values, clears and services securities, cash and alternative investments for investors and broker-dealers, and manages depositary receipt programs. Commercial Banking The CB segment delivers industry knowledge, local expertise and service to U.S. and U.S. multinational clients, including corporations, municipalities, financial institutions and non-profit entities. It provides financing to real estate investors and owners. Partnering with the company’s other businesses, this segment provides comprehensive financial solutions, including lending, treasury services, investment banking and asset management to meet its clients’ domestic and international financial needs. Asset Management The AM segment engages in investment and wealth management businesses. Its clients include institutions, high-net-worth individuals and retail investors in major markets worldwide. This segment offers investment management across all major asset classes, including equities, fixed income, alternatives and money market funds. It also offers multi-asset investment management, providing solutions to a range of clients’ investment needs. For individual investors, this segment also provides retirement products and services, brokerage and banking services, including trust and estate, loans, mortgages and deposits. History JPMorgan Chase & Co. was founded in 1823.