With a legacy dating back to 1799, we have a history of demonstrating leadership during times of both economic growth and financial instability.
J.P. Morgan's presence in Spain dates as early as 1869, when J.S. Morgan & Co., the London-based firm established by J. Pierpont Morgan’s father Junius, issued an £8 million loan to the Spanish government, its first government loan to a European nation. In 1949, Chase National Bank (a firm predecessor) made its first loan to Spain, a $25 million credit secured by gold. In 1962, Chase Manhattan Bank, formed by the merger of Chase National and the Bank of the Manhattan Company, opened a representative office — followed by Morgan Guaranty three years later. In 1979, Chase Manhattan and Morgan Guaranty opened Madrid branch offices.
In 1987, J.P. Morgan & Co. led the country’s first two matador bond issues, foreign bonds issued in Spain by a non-Spanish company. Three years later, J.P. Morgan launched a 10 billion peseta bond issue for the Kingdom of Denmark. This was the first time a debt issue was brought to market in Spain for a foreign sovereign government.