JPMorgan Chase

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JPMorgan Chase is a prominent financial services provider of world. It is placed in 4th position in 2008 Forbes Global 2000 list. JPMorgan Chase has a global presence by virtue of operations in over 60 countries.
JPMorgan Chase specializes in investment banking and other financial services. There are more than 200,000 people working at JPMorgan Chase in various capacities. JPMorgan Chase serves both individual and institutional clients. JPMorgan Chase is also a component of Dow Jones Industrial Average.

Products and services
JPMorgan Chase offers its products and services under two major sections – consumer banking and commercial banking. In consumer banking section, JPMorgan Chase provides products and services like bank branches, ATM, telephone and online banking, auto finance, credit card, education finance, small business, insurance and home finance and home equity loans.

In commercial banking section, major products and services are middle market, business credit, corporate, equipment leasing and commercial real estate. JPMorgan Chase also serves its customers under WaMu banner. In this case products and services provided under consumer banking include branches, ATM, telephone and online banking, business banking, credit card and home finance and home equity loans. Commercial real estate makes up commercial banking business.

Financials
In 2007, sales of JPMorgan Chase amounted to around $116.35 billion and it earned profits worth almost $15.37 billion. Its market value stood at about $136.88 billion and assets held by JPMorgan Chase were worth around $1,562.15 billion. In 2008, value of assets held by JPMorgan Chase rose to $2.3 trillion.

Awards and recognition
In 2008, JPMorgan Chase was recognized by BusinessWeek as being among ten best places from where to start one’s career. Risk also recognized it as “Derivatives House of the Year 2008â€. In 2007, Risk conferred honor of “Derivatives Research House of the Year†award and Profit & Loss provided “Best Research Portal and Navigation in Digital FX Award” to this entity.

Current financial crisis
Present ongoing financial crisis is supposed to be beneficial to JPMorgan Chase to a great extent, as it gives them an opportunity to buy out several well known business establishments, like Lehman Brothers, that have been adversely affected by same phenomenon. It has already acquired Bear Sterns when it collapsed following global economic meltdown.

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