JPMorgan Chase is one of the most prominent financial institutions in the world and the biggest in the United States, with over 2 trillion in assets managed. Over time the last century, from the right intuition and entrepreneurial skills of its founder JP Morgan, grew considerably across the financial crises the nation has experienced.
The corporate mission statement and vision of the company, as well as its core values, had a crucial role in the sustainability and resilience of this company. Keep reading to discover why
JP Morgan Chase Mission Statement Analysis
JP Morgan Chase's mission statement is: “At JPMorgan Chase, we want to be the best financial services company in the world. Because of our great heritage and excellent platform, we believe this is within our reach.” (source)
The straightforward mission statement indicates how excellence is at the heart of everything moves inside the company, from offering higher quality services to higher returns on the investment for their clients.
Such an ambitious goal, it's even harder in the competitive and complex financial industry, where thanks to the guidance of clever leadership over the decades, allowed JP Morgan Chase to thrive.
Read the history of JP Morgan Chase below to discover more on it became the biggest bank in the United States.
Ambition and strive for excellence in everything the company does, as explained in its mission statement, has been vital for the bank to attract what creates value in their business: talented individuals. Retaining and attracting qualified human resources, it's what allowed and will be key for JP Morgan Chase to remain a key player in the financial industry worldwide.
JP Morgan Chase Vision Statement and Core Values Analysis
The vision of JPMorgan Chase is underlined by its core principles: “Exceptional client service, operational excellence, commitment to integrity, fairness, and responsibility. A great and winning culture.”
These are the key four elements that are over time that have allowed JPMorgan Chase to grow by providing extraordinary results to its clients, striving for excellence, and remaining responsible and acting with integrity and honor as well as retaining talent that enabled growth.
The company is also focusing on corporate responsibility, with a vast focus on reducing economic inequalities and on creating more collaboration for business government and nonprofits, to drive more economic growth ultimately.
JP Morgan Chase History
JP Morgan is the largest bank in the United States in the 6th in the world, more than 2 trillion dollars in assets managed. It is as well, as of 2019, the biggest bank in the world for market capitalization to date.
For over a century, JP Morgan chase has been at the center of the U.S.'s financial evolution. The origin of the company date back when its founder, Jamie P. Morgan, started Morgan and Company, later called JP Morgan & Co., back then in the 19th century the United States was booming and growing, an emerging industrial power.
JP Morgan started pouring capital coming from Europe onto railroads in the United States. After focusing on the railroad market, he later moved to the steel industry where he has to proceed to do the same thing before: consolidating lots of smaller companies, eventually creating a steel industry titan worth more than $1 billion in 1901.
Back then, JP Morgan was instrumental for the creation of what later became AT&T, and he heavily invested in the dissemination of electricity in the U.S., unifying critical companies in the sector, creating what is now called General Electric.
After the death of JP Morgan, his son JP Morgan Jr. took charge of the bank founded by his father, maintaining it as one of the cornerstones of the financial industry in America.
JP Morgan merged with Chase in 1996, creating one of the biggest banks in the nation. The company later merged in 2004 with Bank One to consolidate even more its leadership.
The focus of JP Morgan Chase in maintaining a solid balance sheet over time, paid off during the latest financial crisis when the bank acquired some of its competitors. In recent years, JP Morgan Chase outperformed Wall Street's Bank Index considerably, despite losing billions over settlements and troubles that happened during the latest financial crisis.
