Aaron Burr opened the Bank of the Manhattan Company on the 1st of September 1799. The bank began as a water carrier before transforming into a financial institution within six months.
In 1935 heads of J.P. Morgan spun off its investment-banking operations led by Henry S. Morgan and Harold Stanley. They founded Morgan Stanley on the 16th of September 1935 with $6.6 million of nonvoting preferred stock from J.P. Morgan partners.
A revised offer was announced at approximately $10 per share on the 24th of March 2008. The merger was completed on the 30th of May 2008.
On the 19th of November 2013 the Justice Department announced that JPMorgan Chase agreed to a $13 billion settlement for its business practices pertaining to mortgage-backed securities. Of that amount $9 billion was penalties and fines and the remaining $4 billion was consumer relief.
In September 2021 JPMorgan Chase entered the UK retail banking market by launching an app-based current account under the Chase brand Chase UK. This is the company's first retail banking operation outside of the United States.