JPMorgan Chase & Co., commonly known as J.P. Morgan or JP Morgan, is a multinational investment bank and financial services holding company headquartered in New York City. It is the largest bank in the United States by assets and the world's largest bank by market capitalization. The company was formed in 2000 through the merger of Chase Manhattan Corporation and J.P. Morgan & Co. JPMorgan Chase provides a wide range of financial services, including investment banking, asset management, private banking, retail banking, commercial banking, and consumer finance. The company has a global presence with operations in over 100 countries and employs over 67,840 people.

Revenue

Founded

2000

Headcount

67,834

Headquarters

US

Primary Segment

Financial Services

Ownership

Publicly Owned

News Summary:

On January 8, 2025, JPMorgan defended itself against unfair dismissal allegations from a former trader. The bank denied claims that it fired the employee without a proper investigation due to regulatory concerns. JPMorgan filed two lawsuits against Viva Wallet on an unspecified date, concerning the valuation of its investment in the Greek fintech company. Separately, JPMorgan commented on Tesla's Q4 2024 sales and production figures, noting that while they met projections, they fell short of market consensus and impacted 2024 earnings per share forecasts, which dropped from $3.85 to $2.43 over the past year. Finally, JPMorgan plans to announce a shift to a five-day work week for all employees in the coming weeks, moving from a hybrid model requiring three days in the office to full in-person work. JPMorgan also indicated a greater interest in generative AI hiring than other banks, focusing on hiring not only AI scientists and engineers but also consultants.

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