JP Morgan Chase is an American multinational banking and financial services holding company headquartered in New York City. The bank's earliest predecessor, the Bank of the Manhattan Company, was founded by Aaron Burr on 1 September 1799, while the modern incarnation was founded on 1 December 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.. JP Morgan Chase became the largest bank in the United States, the world's sixth-largest bank by total assets ($2.5 trillion), and the world's second-most-valuable bank by market capitalization.