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France
J.P. Morgan in France
Local expertise. Global resources. Our commitment to France.
As the oldest U.S. bank in France, our roots in the country run deep. Since 1868 we have served our clients and local communities in France in good and tough times – from helping citizens take part in the country’s economic growth to supporting the Allies during WWI. Today, our work continues to matter and have impact – we help local communities achieve their dreams by lifting up individuals; small, medium, and large companies; schools; hospitals; and governments. In Paris, we offer our clients investment banking, access to credit and rates markets, equity brokerage, private banking, investment management and treasury and securities services. Our firm has the largest presence of any U.S. bank in France, employs more than 800 people in the country and we continue to grow.
J.P. Morgan is committed to operating a healthy and vibrant company that plays a leading role in advancing a sustainable and inclusive economy. As a global financial institution, we work every day to apply our unique expertise, insights, and resources to help address economic and societal challenges facing our clients, employees, and communities. This isn’t just the right thing to do – it also makes good business sense and supports the firm’s work in France and around the world.
We are making significant and impactful philanthropic and business commitments, which in many cases are supported by employee volunteer efforts and complement the priorities of the French government. At the center of this work is our $30 million philanthropic commitment to Greater Paris. Launched at the end of 2018, this investment is focused on connecting individuals and entrepreneurs to economic opportunities linked to the Olympic and Paralympic Games and the large infrastructural work with the Grand Paris Express, as well as enabling transformative impact by strengthening and scaling the local eco system of support.
Our Local History
With a legacy dating back to 1799, we have a history of demonstrating leadership during times of both economic growth and financial instability. Below you will find major milestones from the firm’s history in France. The institutions listed in the timeline are several examples of the over 1,200 predecessors that make up today’s JPMorgan Chase.
1868: Anthony Drexel, a Philadelphia banker, opens Drexel Harjes & Co. at 83 rue Scribe. Drexel Harjes operates as a partnership and serves as the Paris branch of Drexel’s Philadelphia firm, Drexel & Co. J. Pierpont Morgan later becomes a partner.
1870: Junius Morgan, J. Pierpont Morgan’s father and senior partner of J.S. Morgan & Co. in London, sponsors a FF250 million loan for the French government during the Franco-Prussian War. While not a predecessor bank, J.S. Morgan & Co. later works in tandem with J.P. Morgan & Co.
1895: J.P. Morgan & Co. succeeds to a 100% interest in Drexel Harjes & Co. of Paris and changes the name to Morgan Harjes & Co. J. Pierpont Morgan is now senior partner of the firm.
1910: Equitable Trust Company of New York opens its Paris branch on the Rue de la Paix, becoming the first American bank branch on the European continent.
1915: During World War I, J.P. Morgan & Co. in New York arranges the largest foreign loan in Wall Street history – a US$500 million dollar Anglo-French loan – and acts as purchasing agent in the United States for the Allies. In this capacity, J.P. Morgan places over US$3 billion worth of contracts with American suppliers.
1916: 14, Place Vendôme is bought by J.P. Morgan & Co. The building was designed by architect Jules Mansard and erected in the late 17th century. The façade is now designated a national monument. Morgan Harjes, J.P. Morgan’s Paris partnership, officially occupies 14, Place Vendôme in 1919.
1917: Guaranty Trust Company of New York opens its Paris office at 1 and 3 Rue des Italiens.
1927: Central Union Trust Company opens a representative office at 22, Place Vendôme and Chase National Bank opens a representative office at 1 Boulevard Haussmann.
1927: Morgan Harjes & Co. is renamed Morgan & Cie.
1927: Guaranty Trust Company’s Paris office arranges the first gold shipment from the United States to France.
1945: Morgan & Cie incorporates after seventy-seven years as a partnership.
1959: Several predecessor institutions, including Chase Manhattan Bank, Chemical Corn Exchange Bank, Guaranty Trust Company, The Hanover Bank, Manufacturers Trust Company, and J.P. Morgan & Co., participate in a US$200 million credit agreement with the French Government. Chase Manhattan serves as co-manager of this agreement.
1970: Chase Manhattan Corporation becomes the first foreign bank holding company to be listed on the Bourse, the Paris Stock Exchange.
1973: Chase Manhattan finances a US$30 million renovation project at the historic Hotel de Bondeville in the Marais neighborhood of Paris. This is the largest real estate development project of its kind in Paris.
1993: J.P. Morgan completes a full-scale renovation of 14, Place Vendôme. The renovation modernizes the building’s infrastructure to facilitate installation of new technology and building systems and restores its antique ceiling murals, gilded moldings, and parquet floors.
2011: J.P. Morgan becomes an official sponsor of Paris Photo.
2018: JPMorgan Chase announces a US$30 million, five-year investment across Greater Paris as part of the new Advancing Cities firm-wide initiative.
2019: In April 2019, the firm commits a €1 million grant to Les Compagnons du Devoir to support apprenticeships in the skills necessary to rebuild Notre-Dame cathedral in Paris after the fire.
2021: J.P. Morgan opens a new building at 21 Place du Marché-Saint-Honoré in Paris, near Place Vendôme, inaugurated by the Chairman and CEO of JPMorgan Chase & Co. Jamie Dimon and French President Emmanuel Macron. More than 400 staff members of more than 40 different nationalities, mostly specialized in sales and trading, join the Paris offices.
Contact:
J.P. Morgan France
14, Place Vendôme, 75001 Paris, France
+33 (0)1 40 15 45 00
Communications / Media Relations: Anne Roppé
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