Goldman Sachs vs J.P. Morgan Chase
Goldman Sachs and J. P. Morgan Chase are two financial conglomerates in US that have business and assets in many countries of the world. These two financial behemoths conduct billions of dollars worth of transactions every year, and have many similarities between them. This article though, intends to highlight the difference between these two financial companies.
Goldman Sachs
When it comes to global investment banking and securities, Goldman Sachs emerges as a top player. It is a very old firm having been founded in 1869 and has its headquarters in lower Manhattan area of New York. The company is involved in providing various financial services such as mergers and acquisition advice, underwriting, prime brokerage and asset management to thousands of its clients. Its client profile has individuals as well as corporations and even governments. Goldman Sachs also provides services in equity deals and is a major player in the government security market.
J. P. Morgan Chase
This financial company is involved in various financial activities such as retail and investment banking, global securities, asset management, and many other financial services. It has assets worth more than $2 trillion and is the 2nd largest banking institution in the US on the basis of its market capitalization. In terms of deposit base in the country, it is third only after Bank of America and Wells Fargo. The company operates the largest hedge fund in the US with assets worth more than $54 billion. Earlier known as J. P. Morgan, it got its current name after acquisition of Chase Manhattan Corporation in 2000. The company uses its brand name Chase for retail banking and credit cards in US. The headquarters of the company are in New York, while the headquarters of its bank are in Chicago.
Difference between Goldman Sachs and J.P. Morgan Chase
Talking of differences, Goldman Sachs is primarily involved in investment banking, securities and asset management while J. P. Morgan Chase operated largely as a banking institution that provides many other financial services all over the globe. J. P. Morgan has millions of clients in the US and many other countries of the world. In terms of market capitalization, J. P. Morgan Chase is the largest financial organization in the world. It is credited to be one of the oldest financial organizations in the world. Goldman Sachs primarily deals in securities but also deals in trading and private equity. In terms of client rooster, Goldman Sachs has a more diversified client base that not only has a large variety of individual customers; it also provides services to large corporations and even many governments of the world.