J. P. Morgan

John Pierpont "J.P." Morgan (April 17, 1837 – March 31, 1913) was an American financier and banker who dominated corporate finance and industrial consolidation during his time. In 1892, Morgan arranged the merger of Edison General Electric and Thomson-Houston Electric Company to form General Electric. He was instrumental in the creation of the United States Steel Corporation.

At the height of Morgan's career during the early 1900s, he and his partners had financial investments in many large corporations and had significant influence over the nation's high finance and United States Congress members. He directed the banking coalition that stopped the Panic of 1907. He was the leading financier of the Progressive Era, and his dedication to efficiency and modernization helped transform American business.

Morgan died in Rome, Italy, in his sleep in 1913 at the age of 75, leaving his fortune and business to his son, John Pierpont Morgan, Jr.

Childhood and education

Morgan was born into the influential Morgan family to Junius Spencer Morgan (1813–1890) and Juliet Pierpont (1816–1884) in Hartford, Connecticut, and was raised there. Pierpont, as he preferred to be known, had a varied education due in part to the plans of his father. In the fall of 1848, Pierpont transferred to the Hartford Public School and then to the Episcopal Academy in Cheshire, Connecticut (now called Cheshire Academy), boarding with the principal. In September 1851, Morgan passed the entrance exam for The English High School of Boston, a school specializing in mathematics to prepare young men for careers in commerce. In the spring of 1852, an illness struck which was to become more common as his life progressed. Rheumatic fever left him in so much pain that he could not walk, and Junius sent him to the Azores to recover.

J. P. Morgan (disambiguation)

J. P. Morgan (1837–1913) was an American banking tycoon.

J. P. Morgan may also refer to:

Business

J.P. Morgan & Co.

J.P. Morgan & Co. is a commercial and investment banking institution based in the United States founded by J. Pierpont Morgan and commonly known as the "House of Morgan" or simply "Morgan". The firm is a predecessor of two of the largest banking institutions in the United States and globally, JPMorgan Chase and Morgan Stanley.

In 2000, J.P. Morgan & Co. merged with Chase Manhattan Bank to form JPMorgan Chase & Co., one of the largest global banking institutions. Today, the "J.P. Morgan" brand is used to market certain JPMorgan Chase wholesale businesses, including investment banking, commercial banking and asset management. The J.P. Morgan branding was revamped in 2008 to return to its more traditional appearance after several years of depicting the "Chase symbol to the right of a condensed and modernized "JPMorgan".

Between 1959 and 1989, J.P. Morgan operated as the "Morgan Guaranty Trust," following its merger with the "Guaranty Trust Company" of New York.

History

Early history