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Audit Assessment, Jp Morgan

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Audit Assessment, Jp Morgan
J.P. Morgan Chase & Co.
Risk Assessment
12/5/2012
Chad E. Russell |

JP Morgan Chase & Co. Assessment
Introduction
The firm’s legacy which started in New York City in 1799 started thanks to a long list or predecessors. JP Morgan Chase & Co. was built on more than 1200 predecessor institutions. The highest and most regarded predecessor firms were JP Morgan, Chase Manhattan, Chemical, Manufactures Hanover (in New York City), Bank One, First Chicago, and National Bank of Detroit (in the Midwest). As they did in years past and as JP Morgan continues to do, is contribute significant amounts to local communities around the county. In 1968 JP Morgan built the frame work for the financial holding company that they are today. The company in 1968 as they do now is a global financial service firm and a banking institution in United States of America.
The key mergers that shaped JP Morgan started in the 1990s are as follows. In 1991 Manufacturers Hanover Corporation merged with Chemical Banking Corporation under its new name Chemical Banking and became the second-largest banking institution in the United States of America. In 1995 Frist Chicago Corporation merged with NBD Bancorp. NDB Bancorp was originally First Chicago NBD and was one of the largest banking institutions in the Midwest. Just a year later in 1997 the Chase Manhattan Corporation merged with Chemical Banking Corporation, these two corporations formed under a new name of The Chase Manhattan Corporation. This newly formed corporation became the largest bank holding company in the United States of America in 1996. Two years later in 1998 Bank One Corporation merged with First Chicago NBD. These two corporations merged in to what was Bank One and was the largest banking system in the Midwest. Then from 2000 to 2010 is when JP Morgan Chase & Co. grow to what we know them as now. In 2000 JP Morgan & Co. merged with The Chase Manhattan Corporation. This was a monumental


Cited: "99 Problems." Reuters. N.p., 12 Nov. 2013. Web. 14 Nov. 2013. Henry, David, and Emily Flitter. July 20, 2011. Analysis: JPMorgan Faces Sea of Trouble Resolving "Whale" Probe." Reuters "JPMorgan Chase & Co." Company Spotlight. N.p., 13 July 21012. Web. 05 Dec. 2012. Reed, J. B. "2012 Earnings: Third Quarter." The New York Times. New York Times, 16 Nov. 2012
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