Difference between Goldman Sachs and J.P. Morgan Chase
J.P. Morgan Chase and Goldman Sachs are two of the most successful financial conglomerates in the United States known to have assets and business in several countries all over the world. The two financial giants conduct billion dollars worth transactions each year. Interestingly, the two have a lot of similarities that may cause confusion to some. Here, we will try to examine their differences and highlight them to clarify things.
J.P. Morgan Chase
This company deals in several financial activities including global securities, retail and investment, and asset management. Its assets reach more than 2 trillion dollars, making it the second largest banking company in US when we talk about market capitalization. According to deposit base, it ranks third in the country, following the Well Fargo and the Bank of America. The company also operates America’s largest hedge fund, with assets that are worth well more than 54 billion dollars. It was known originally as J.P. Morgan, but was later changed after it acquired the Chase Manhattan Corporation back in 2000. The brand name Chase is used by the company for credit cards and retail banking in the US. J.P. Morgan Chase’s company headquarters is located in New York, whereas its bank headquarters is in Chicago.
Goldman Sachs is the top ranker in global securities and investment banking. The firm, founded in the year 1869, is among the oldest in the trade. Its headquarters can be found in Manhattan, New York. Goldman Sachs deals in providing different financial services like asset management, prime brokerage, underwriting, acquisition advice and mergers. Its clients range from mere individuals, corporations and even some governments. The company also offers equity deals and plays a significant part in government security markets.
Differentiating Between the Two
Goldman Sachs deals primarily in asset management, securities and investment banking. J.P. Morgan Chase on the other hand, largely operates in banking and provides several financial services in different parts of the globe. It has clients by the millions all over the world and is considered among the oldest financial associations ever. Goldman Sachs, although dealing primarily with securities, also engages in private equity and trading. It also provides, not only to a variety of individuals, but even large corporations and governments all around the world.