150 Years in Greater Paris

December 7, 2022

A Long History in Paris

1868 - Anthony Drexel opens Drexel, Harjes & Co., the firm's earliest predecessor in Paris. Drexel later partners with J. Pierpont Morgan to open Drexel, Morgan & Co, in 1871 in New York.

1870 - J. Pierpont Morgan's father, Junius, provides a 250 million franc loan to the French government during the Franc-Prussian War.

1895 - J. Pierpont Morgan becomes senior partner of Drexel, Harjes & Co. and changes the name to Morgan Harjes & Co. (later renamed Morgan & Cie).

1915 – During World War I, J.P. Morgan & Co. in New York arranges the foreign loan in Wall Street history – a $500 million dollar Anglo-French loan – and acts as purchasing agent in the United States for the Allies. In this capacity, J.P. Morgan places over $3 billion worth of contracts with American suppliers.

1917 – Anne, J. Pierpont Morgan’s daughter, organizes the American Committee for Devastated France during World War I and provides aid to civilians in war-torn communities.

1920 – The firm focuses on the financing of European reconstruction after World War I, underwriting millions of dollars in bond issues and short term credits for France.

1945 – Morgan & Cie incorporates after 77 years as a partnership.

2008 – J.P. Morgan makes its first major philanthropic investments in Greater Paris to tackle youth unemployment.

2014 – New Skills at Work initiative expands to Greater Paris to address youth unemployment.

2016 – J.P. Morgan launches the schools challenge in Greater Paris to provide students from diverse backgrounds with the opportunity to receive mentorship from J.P. Morgan employees, who help them think about potential career paths.

2018 – J.P. Morgan reaches milestone to 15,000 participants in training programs to develop the skills they need to succeed in today’s job market.

2018 – The Service corps program expands to Greater Paris to offer the expertise to top-performing employees to local nonprofits and help them maximize their impact in the communities that they serve.

2018 - J.P. Morgan commits to investing $30 million over five years in Greater Paris with a focus on areas across Ile-de-France that have historically lacked opportunity, such as Seine St. Denis.

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