It’s one of the largest and most influential financial institutions in the world. Here’s a breakdown of the kind of company it is:
- Bank: It’s the largest bank in the United States by assets and one of the largest globally. This means it offers traditional banking services like checking accounts, savings accounts, loans (mortgages, auto loans, personal loans), and credit cards. (These services are often provided under the Chase brand in the U.S.)
- Investment Bank: It’s a leader in investment banking, which involves services for corporations, institutions, and governments. This includes:
- Mergers and Acquisitions (M&A): Advising companies on buying and selling other companies.
- Capital Raising: Helping companies raise money by issuing stocks (equity) or bonds (debt).
- Sales and Trading: Facilitating the buying and selling of various financial instruments (stocks, bonds, currencies, commodities).
- Asset Management: It manages significant assets for individuals, institutions, and governments, providing investment strategies and products. This includes wealth management and private banking services for high-net-worth individuals. (These services are often provided under the J.P. Morgan brand.)
- Commercial Bank: It provides financial services to businesses, from small businesses to large corporations, including credit, financing, and payment solutions.
- Financial Transaction Processing: It handles a vast number of financial transactions globally.
In essence, JPMorgan Chase is a diversified financial services conglomerate that operates across almost every aspect of the financial world, serving individuals, businesses, and institutions globally.