Chase is a subsidiary of JP Morgan Chase and is the commercial banking division of JP Morgan Chase. It is a multinational financial services institution and one of the largest banks in the United States, with operations in more than 60 countries. It has more than 30,000 employees and more than 2,000 branches worldwide. About Chase Its predecessor, Chase National Bank, was founded by John Thompson in 1877. Its name came from Salmon Chase, the U.S. Secretary of the Treasury and Chief Justice. In the 1920s, Chase National Bank acquired several small banks through its securities companies. In 1955, Chase National Bank merged with Manhattan Bank to form Chase Manhattan Bank. Subsequently, JP Morgan Group and Chase Manhattan Bank officially merged in December 2000. After the merger, the company was renamed JP Morgan Chase. In 2004, it went on to acquire First Bank of Chicago, making Chase the largest credit card issuer in the United States. On March 24, 2008, JP Morgan Chase successfully acquired Bear Stearns, which was the fifth largest investment bank in the United States in 2007. Chase is the No. 1 provider of student and auto loans and the No. 3 originator and servicer of mortgages. It is investing heavily in technology to maintain and improve its position, while also looking for new areas where it can serve middlemen. Products and Services
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