1799
JPMorgan's origins trace back to 1799, to a company founded to supply water to New York City.
“J P Morgan's origins trace back to 1799, to a company founded to supply water to a growing New York City.”
Topic
JPMorgan Chase
37 facts from 12 episodes, in date order. These are what speakers said on the shows, each linked to the moment it was said. They aren't independently verified.
2000
In 2000, JPMorgan merged with Chase Manhattan to create a new kind of institution.
“In 2,000, the merger of J P Morgan and Chase Manhattan created a new kind of institution”
2004
Jamie Dimon says Bank One shifted its middle-market revenue mix from about 80% loan interest to about 40% interest and 60% fees such as payments by the time of the JPMorgan merger.
“By the time we merged with J.P. Morgan, we had 40 NII from the loan and 60% NIR from other type of things like payments.”
2004
In the 2004 merger of Bank One and JPMorgan Chase, Bank One shareholders received 42% of the combined company.
“I think JPMorgan Chase referred to it as that. Bank One shareholders get 42% of the combined company.”
2004
Jamie Dimon says the merger agreement made him CEO after 18 months unless 75% of the board voted otherwise.
“to not have me become CEO 18 months later, 75% of the board would have to vote me out.”
2004
Jamie Dimon says that at the 2004 JPMorgan–Bank One merger he had a book called 'how we do business', and then-chairman Bill Harrison told him to send it out.
“When we first did the J P Morgan Bank one merger in 2004, I had a book, how we do business, and Bill Harrison, who was the chairman of the time, said, you've got to send it out.”
2006
Jamie Dimon says he began stockpiling liquidity at JPMorgan Chase in 2006 because he was worried about market conditions.
“So in 2006, I started to stockpile liquidity and, you know, looking at the situation, I was quite worried.”
2006
Jamie Dimon says rival investment banks used multi-year side deals for senior bankers, and that he eliminated almost all of them at JPMorgan.
“all of these investment banks were doing side deals, private deals, three-year deals, five-year deals. I got rid of almost all of them.”
2008
JPMorgan acquired Bear Stearns' assets for $2 a share, and someone taped a $2 bill to the revolving door of its headquarters.
“JP Morgan acquired the assets of bear for $2 a share, somebody taped a $2 bill to the road.”
2008
In March 2008 the Federal Reserve arranged the sale of Bear Stearns to JPMorgan at $2 per share after the stock started the week near $63.
“The Fed engineers an asset sale to JP Morgan for $2 a share.”
2008
In September 2008 settlements with banks including JP Morgan and Citigroup brought $7.2 billion into the Enron bankruptcy estate for shareholders.
“the whole suite of settlements with a whole variety of banks, JP Morgan, Citigroup, various others, come in for a total of $7.2 billion”
2008
Around 2008 or 2009 AWS staff visited financial firms in New York, including Goldman Sachs and JPMorgan, who were fact-finding about cloud computing.
“We went on a trip to New York, and actually, there's a bunch of financial services com companies, the Goldman Sachs' and JPMorgan's”
2008
JPMorgan first agreed to buy Bear Stearns at $2 a share and about a week later raised the price to $10, versus a prior $120.
“We bought it and then like a couple, like a week later we changed to $10 a share. It had been at $120.”
2008
Dimon says Bear Stearns had $300 billion of assets and $12 billion of tangible book value, all of which JPMorgan wrote off.
“the way to think of it is it was $300 billion of assets and a $12 billion tangible book value.”
2008
Jamie Dimon says the government made JPMorgan pay $5 billion over bad mortgages originated by Bear Stearns and WaMu.
“we bailed a lot of people out, they made us pay $5 billion on the bad mortgages”
2008
JPMorgan bought Washington Mutual at a $30 billion discount to tangible book value and left WaMu's debt behind.
“We bought it for a $30 billion discount to tangible book value. Because they had debt. And we left the debt behind.”
2008
Shortly after the WaMu purchase, JPMorgan raised $11 billion of equity to keep its balance sheet strong.
“I went in the market and raised $11 billion of equity, which I didn't really need.”
2008
In 2008, during the financial crisis, JPMorgan acquired Bear Stearns and Washington Mutual.
“in 2008, it stepped into the center of the crisis, acquiring Bear Stearns and Washington Mutual.”
2008
Jamie Dimon says home prices falling 40%, as happened in the great financial crisis, was a scenario his bank never anticipated.
“home prices being down 40%. That was just not on the list.”
2009
Jamie Dimon says JPMorgan completed all WaMu system consolidations within nine months.
“I think we finished the WAMU consolidations in nine months, all of them.”
2023
Dimon says JPMorgan opened J.P. Morgan Financial Centers, modeled on First Republic's high-net-worth service, and has about 20 of them.
“So now if you go down Madison Avenue, you see things called J.P. Morgan Financial Center.”
2024
Two of Acquired's three sponsors for season 14 were JP Morgan's payments division and ServiceNow.
“two of our three sponsors are going to be JP Morgan, specifically JP Morgan's payments division and ServiceNow, both of which are incredible companies.”
2025
The hosts say JPMorgan Chase is the largest US bank with a market capitalization above $800 billion, more than twice that of its nearest competitor.
“He now sits atop the largest bank in the US with an over $800 billion market cap, which is more than twice their nearest competitor.”
2025
Jamie Dimon says JPMorgan spends about $800 million a year on cybersecurity.
“We spend $800 million a year or something on it.”
2025
A host says JPMorgan's efficiency ratio lets it keep about 15 cents more of each revenue dollar as profit than its competitors.
“For every dollar that you make compared to your competitors, you get to keep 15 cents more of that dollar as profit.”
2026
Jamie Dimon says JPMorgan has been using AI for thirteen years and has thousands of people working on it.
“We already we've been doing it for thirteen years. We've got thousands of people deployed in it.”
2026
Bar Kogan says few large enterprises still ban AI agents, though some financial firms restrict which tools are allowed, and he thinks allowing many tools is the better strategy.
“I personally think that the companies that are gonna do well are the companies that are gonna allow a lot of different tools.”
2026
Bussmann says JP Morgan announced it is building its own AI infrastructure with a chip provider other than Nvidia, which he sees as an exception among banks.
“It's only one bank, JP Morgan announced that they are also building their own infrastructure with, uh, chip provider, then not the typical Nvidia, et cetera.”
Undated
Garman says AWS deliberately targeted the hardest workloads, such as JPMorgan Chase and US intelligence agencies, so that regular companies' objections would shrink.
“if I can solve the, you know, JPMorgan Chase running in AWS, if I can run solve the US. Intelligence Agency running in AWS, like the the reasons for regular other companies are diminishingly small.”
Undated
The special is titled Acquired Live at Radio City Music Hall and is presented by J.P. Morgan.
“to watch the full special production of Acquired Live at Radio City Music Hall presented by JP Morgan, head on over to Spotify.”
Undated
Fradin recalls that JPMorgan Chase spends roughly $18-19 billion a year on IT and a couple hundred billion dollars on people.
“JP Morgan Chase's global IT spend is on the order of $18 billion or $19 billion, and they spend a couple $100 billion a year on people.”
Undated
Jamie Dimon says that when he arrived at JPMorgan its risk measurement assumed a 10% stock market fall, 3% G10 currency moves and credit spreads widening by 40%, and he pushed for much more severe scenarios.
“the risk measurement was the market going down 10%, stock market, FX currencies, moving 3%, the G ten, and credit spreads gapping out by 40%.”
Undated
Jamie Dimon says the executive who runs AI at JPMorgan previously ran the bank's prime services business for years.
“The woman running AI ran prime services for us for years.”
Undated
Jamie Dimon says JPMorgan is the number one foreign-exchange trader in the world but ranks only seventh in Vietnam.
“we're the number one FX trade in the world, but we're number seven in Vietnam.”
Undated
Jamie Dimon says David Novak, when lead director of the JPMorgan board, would send him handwritten coaching notes after board meetings held without him.
“or David Novak, when he was lead director, he would give me a a handwritten note.”
Undated
Bussmann says building own AI hardware requires scale such as JP Morgan's, with US banks of that size having IT budgets above $10 billion a year.
“only large bank with, you know, JP Morgan, US banks are usually, after, you know, among above 10 billion, uh, dollars of budget, IT budget per year”
Undated
Das Deb says his work at JPMorgan Chase serves large clients such as Amazon, Walmart and Target.
“we service big clients like Amazon and and Walmart and Target and whatnot.”
Episodes
- 1 Oct 2025Acquired Live at Radio City Music Hall (Presented by J.P. Morgan)1m
- 16 Jul 2025The Jamie Dimon Interview1h 8m
- 18 Dec 2023Holiday Special 20232h 17m
- 29 Nov 2022Enron3h 33m
- 7 Jun 2021Berkshire Hathaway Part III2h 58m
- 7 Oct 2020Special: Invest Like the Best on Acquired1h 49m
- 21 Jul 2026AI Agents in Banking: UBS Former Chief Information Officer54m
- 29 Apr 2026Live podcast with Jamie Dimon, CEO JPMorgan Chase: Corporate culture, risk and the global economy38m
- 28 May 2026Building an AI Guardian for Enterprise with Onyx Security CEO Maxim Bar Kogan41m
- 29 Aug 2024Cloud Strategy in the AI Era with Matt Garman, CEO of AWS42m
- 1 Dec 2025The $700 Billion AI Productivity Problem No One's Talking About58m
- 9 Oct 2026Reducing Alert Noise with AI in Enterprise IT - with Dhrubojyoti Das Deb of JPMorganChase26m