JP Morgan Chase Bank was formed when JP Morgan and Chase Manhattan Bank came together in 1955. Well one half of the bank Manhattan Company started in 1799. The company got its start providing water for NY. The founder of the bank Aaron Burr(the one who shot and killed Alexander Hamilition) had a clause written in the charter of the company that allowed it to use its extra cash for banking purposes. On a side note Burr’s main competitor for banking in New York was Alexander Hamilition Bank of New York.
JP Morgan bank began in 1854 when Junius S. Morgan and George Peabody & Co. started Peabody Morgan and Co. The company started off in government bonds and foreign exchange. The company later secured a contract with the bank of England, to underwrite war bonds for the UK, and France. Read more about the history of JP Morgan Chase Bank. Click the link.
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