J.P. Morgan & Company

Following the death of his father, Junius Morgan, and his business partner, A.J. Drexel, J. Pierpont Morgan reorganized the firm’s banking houses in the U.S., London and Paris. The New York firm was renamed J.P. Morgan & Co.

J.P. Morgan stock certificateOn January 1, 1895, following the deaths of his father, Junius Morgan in 1890, and his business partner, A.J. Drexel in 1893, J. Pierpont Morgan reorganized the firm's banking houses in New York, London and Paris. The New York firm was renamed J.P. Morgan & Co.; the Paris firm became Morgan, Harjes & Co.; and the London firm remained J.S. Morgan & Co. The companies, which were still private partnerships, continued to influence economic policy and industrial development as global markets evolved.

By the time the new J.P. Morgan & Co. opened for business in the old Drexel Building at 23 Wall Street later that year, Morgan occupied a commanding position in American and international finance. He was, at age 58, not only the most prominent international banker in the U.S., but also a major figure among those of the Old World.

J.P. Morgan & Co. went on to finance many of the companies that shaped the U.S. economy in the 20th century, and also played a pivotal role in restoring stability to volatile financial markets.

As a firm, we have a history of showing leadership, especially during times of financial crisis. We continue to build on that legacy.

 

Back to This month in history

 
 

Copyright © 2014 JPMorgan Chase & Co. All rights reserved.