Who founded Chase Bank?
Who Founded Chase Bank? Chase Bank, officially known as JPMorgan Chase Bank, N.A. , is one of the largest and most influential financial institutions in the world. Its history is long, complex, and intertwined with multiple mergers, acquisitions, and transformations. Understanding who “founded” Chase Bank is not as straightforward as pointing to a single person, because today’s bank is the result of over 200 years of financial evolution. 1. The Origins of Chase Bank To trace the founder, we have to go back to 1799 , when the earliest predecessor of Chase Bank was established — The Bank of the Manhattan Company . This bank was started by Aaron Burr , a controversial figure in U.S. history, who was also the third Vice President of the United States. Burr founded The Bank of the Manhattan Company under the guise of providing clean water to New York City. He obtained a charter for a water company but inserted a clause allowing the surplus capital to be used for banking. This clever l...