Who Owns JPMorgan Chase? | The Motley Fool (2024)

JPMorgan Chase (JPM -0.95%) is the largest commercial bank in the U.S., with about $3.4 trillion in assets. Chase Bank is the company's consumer and community banking subsidiary. Its other three segments are corporate and investment banking, commercial banking, and asset and wealth management.

JPMorgan Chase's roots go all the way back to 1799, when its earliest predecessor institution, The Manhattan Co., was founded. The Manhattan Co.'s founders included Alexander Hamilton and Aaron Burr. Later, tycoon J. Pierpont Morgan joined with Philadelphia banker Anthony Drexel to form a private merchant banking house called Drexel, Morgan & Co. in New York City in 1871.

The institution later became J.P. Morgan & Co. and went public in 1940. After merging with The Chase Manhattan Corp. in 2000, the company became JPMorgan & Chase.

Today, JPMorgan Chase remains a publicly traded company, which means it's owned by its shareholders. It trades on the New York Stock Exchange under the ticker "JPM." Since it's publicly traded, anyone with a brokerage account can invest in the stock and become part owner of JPMorgan Chase.

Largest shareholders

Who are the largest shareholders?

Institutional investors own more than 73% of JPMorgan Chase's shares, which total more than 2.9 billion. The largest individual shareholder is CEO Jamie Dimon, but individual insiders own less than 0.5% of the banking stock.

Individuals

1. Jamie Dimon: Dimon is the largest individual JPMorgan Chase shareholder, with about 7.84 million shares. Altogether, Dimon owns about 0.27% of the company's stock. Dimon earned $36 million in 2023, a 4% raise from the prior year. Dimon received a $1.5 million salary and a $5 million cash bonus. The remainder of his compensation was in company stock.
2. Mary Erdoes: Erdoes is CEO of JPMorgan Chase's asset & wealth management division and joined the company more than 25 years ago. She owns more than 600,000 shares of JPMorgan Chase stock.
3. Stephen Burke: Burke is JPMorgan Chase's lead independent director and has served on the board since 2004. He is the executive vice president of Comcast (CMCSA -1.06%) and owns more than 250,000 shares of JPMorgan Chase stock.
4. Mellody Hobson: Hobson joined JPMorgan Chase's board in 2018 and serves on its public responsibility committee and risk committee. Also serving as the chair of Starbucks (SBUX -1.97%), she owns almost 150,000 shares of the bank's stock.
5. Timothy Flynn: Flynn has been a JPMorgan Chase board member since 2012 and serves on its audit committee. A former chairman of KPMG International, Flynn owns more than 70,000 shares of JPMorgan Chase stock.

Institutional investors

1. Vanguard Group: Vanguard, a Pennsylvania-based registered investment advisor whose low-cost mutual funds and exchange-traded funds (ETFs) are a mainstay in retirement accounts, is the largest JPMorgan Chase shareholder. It owns more than 272 million shares, amounting to a stake of about 9.5%. The funds that hold the largest number of JPMorgan Chase shares are the Vanguard Total Stock Market Index Fund, the Vanguard 500 Index Fund, and the Vanguard Index Value Index Fund.
2. BlackRock (BLK 0.46%): BlackRock is the largest asset manager in the world, with about $10 trillion in assets under management, and the owner of iShares ETF. BlackRock owns almost 192 million shares of JPMorgan Chase, which is about 6.7% of outstanding shares. Its iShares Core S&P 500 ETF (IVV 1.2%) owns almost 30 million of those shares.
3. State Street Corp. (STT -0.21%): Boston-based financial services giant State Street Corp. has more than $4 trillion in assets under management and more than $41 trillion in assets under custody, making it the largest custodial bank in the globe. In 1993, it launched the SPDR S&P 500 ETF (SPY 1.19%), the first S&P 500 ETF. State Street's stake in JPMorgan Chase is just shy of 4.4%, with more than 125 million shares of the bank. The SPDR S&P 500 ETF owns about 34 million shares.
4. Morgan Stanley (MS 0.08%): Morgan Stanley is an investment bank and global financial services company co-founded by J.P. Morgan's grandson, Henry Morgan, and Harold Stanley in 1935. It acquired E*Trade, one of the largest online brokerages, for $13 billion in 2020. Morgan Stanley owns about 65 million JPMorgan Chase shares, which amounts to a stake of almost 2.3%.
5. Geode Capital Management: Initially founded by Fidelity in 2001, Geode became a separate entity in 2003. It now manages Fidelity's stock index funds as a sub-advisor. Geode owns more than 1.9% of JPMorgan Chase's common stock, with more than 55 million shares.

Board of directors

Who is on the board of directors for JPMorgan Chase?

The following 12 individuals sit on JPMorgan Chase's board of directors:

• Jamie Dimon: Dimon is JPMorgan Chase's CEO and chairman of its board. He has served as CEO since 2006 and chairman of the board since 2007.
• Linda Bammann: Bammann retired from JPMorgan Chase in 2005 as deputy head of risk management. She later served as a director of Freddie Mac for five years. She has been a member of JPMorgan Chase's board since 2013.
• Stephen Burke: Burke is JPMorgan Chase's lead independent director and has been a board member since 2004. He is the former president of Comcast and the former president and CEO of NBCUniversal LLC and NBCUniversal Media, LLC.
• Todd Combs: Combs is an investment manager at Warren Buffett's Berkshire Hathaway (BRK.A 0.09%) (BRK.B 0.08%) who, along with Ted Weschler, manages a growing share of Berkshire's portfolio. Combs is also chairman, president, and CEO of Berkshire Hathaway-owned GEICO. He has been a JPMorgan Chase board member since 2016.
• Alicia Boler Davis: Davis is president of Alto Pharmacy LLC. She previously held leadership roles at Amazon.com (AMZN 1.08%) and General Motors (GM 0.8%). She joined JPMorgan Chase's board in 2023.
• Timothy Flynn: Flynn is the former chairman and CEO of KPMG LLP. He serves as a director of UnitedHealth Group Inc. (UNH -0.47%) and Walmart (WMT 0.74%) and has been a JPMorgan Chase board member since 2012.
• Alex Gorsky: Gorsky is the retired chairman and CEO of Johnson & Johnson (JNJ -1.24%) and also serves on the boards of Apple (AAPL 0.78%) and IBM (IBM 0.95%). He joined JPMorgan Chase's board in 2022.
• Mellody Hobson: Hobson is the co-CEO of investment management firm Ariel Investments LLC and serves as vice chair of Starbucks (SBUX -1.97%). She has been on JPMorgan Chase's board since 2018.
• Michael Neal: Neal is the former vice chairman of General Electric Co. (GE 0.72%) and the former chairman and CEO of GE Capital Inc. He's been a JPMorgan Chase board member since 2014.
• Phebe Novakovic: Novakovic is chairman and CEO of aerospace and defense company General Dynamics (GD 0.72%). She has been a JPMorgan Chase director since 2020.
• Virginia Rometty: Rometty is the retired president, CEO, and chairman of IBM. She joined the board of JPMorgan Chase in 2020.
• Mark Weinberger: Weinberger is the former global chairman at Ernst & Young LLP. He previously served as assistant secretary of the U.S. Department of the Treasury. He became a JPMorgan Chase board member in 2024.

Related investing topics

How to invest

How to invest in JPMorgan Chase

It's easy to invest money in JPMorgan Chase or any other publicly traded company if you have a brokerage account. Once you've opened your account and deposited money, you can start investing.

You'll need to enter the stock's ticker, JPM. Then, you'll indicate how many shares you want to purchase. Depending on your brokerage, you may be able to buy fractional shares if you don't want to purchase a full share. You'll need to indicate whether you're placing a market order vs. a limit order.

After you've entered the information above, you'll click "place order." Once you do so, congratulations! You're now a JPMorgan Chase shareholder.

But before you invest, make sure you understand the fundamentals of investing in banking stocks. Bank stocks are somewhat less risky now compared to a couple of decades ago due to increased regulation and required stress testing that assesses how banks will fare in adverse conditions. However, bank stocks aren't a good option if you're looking for a recession-resistant investment, as declining consumer spending and increased defaults typically hurt bank profits during a downturn.

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