JPMorgan Chase Celebrates 75th Anniversary of the ADR.Business Editors NEW YORK--(BUSINESS WIRE)--April 29, 2002 Ringing the closing bell at the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE See: New York Stock Exchange ) today, Geoffrey T. Boisi, vice chairman, JPMorgan Chase, will commemorate the 75th anniversary of the American Depositary Receipt American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. (ADR ADR - Astra Digital Radio ). JPMorgan created the ADR in 1927 to facilitate international equity investments for U.S. investors. "We are extremely pleased to celebrate the 75th anniversary of the ADR market with the NYSE today, and indeed, the world's financial community," said Mr. Boisi. "The rationale for the ADR -- connecting U.S. investors with the leading global issuers, and providing investment for international corporate growth -- is a vital function for the world's capital markets." "JPMorgan Chase and the NYSE have long enjoyed a partnership that benefits investors and issuers. We salute JPMorgan Chase on its leadership and on reaching the 75-year milestone in the ADR business," said NYSE Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Dick Grasso. Joining Mr. Boisi on the NYSE podium will be Frederick Hill, executive vice president and head of Marketing and Communications; Michael K. Clark, executive vice president and head of Institutional Trust Services; Conrad Kozak, senior vice president, Institutional Trust Services; and Patrick Colle, global head of the ADR business. JPMorgan created and launched the first-ever ADR for the U.K.'s Selfridges Provincial Stores Limited (now known as Selfridges PLC), the famous British retailer, on April 29, 1927. The first ADR was listed on the New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Curb Exchange Curb Exchange An early name for what is now the American Stock Exchange. The term derived from the market's beginnings on a street in downtown New York. , the precursor to the American Stock Exchange American Stock Exchange (AMEX) Stock exchange in the U.S. Originally known as “the Curb,” it began as an outdoor marketplace in New York City c. 1850. It moved indoors to its present location in the Wall Street area in 1921. . The ADR market --- comprising approximately 2,200 issuers --- is valued at more than $500 billion. In 2001, a record 30 billion ADRs were traded. JPMorgan is the market leader with a market share of 41% of the ADR market's capitalization. J.P. Morgan Chase & Co. is a leading global financial services firm with assets of $713 billion and operations in more than 50 countries. With relationships with over 99% of the Fortune 1000 companies, the firm is a leader in investment banking, asset management, private banking, private equity, custody and transaction services, retail and middle market financial services. A component of the Dow Jones Industrial Average Dow Jones Industrial Average The best known U.S. index of stocks. A price-weighted average of 30 actively traded blue-chip stocks, primarily industrials including stocks that trade on the New York Stock Exchange. , JPMorgan Chase is headquartered in New York and serves more than 30 million consumer customers and the world's most prominent corporate, institutional and government clients. For more information, visit jpmorganchase.com and JPMorgan's adr.com, the central source for information on ADRs and international equities. JPMorgan's Global ADRenalin equity research is available through the Bloomberg Professional(R) service under "ADRJ." Neither this announcement nor the information contained herein constitutes an offer or solicitation by JPMorgan for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. An offering is made by means of a prospectus only. Information herein is believed to be reliable, but JPMorgan does not warrant its completeness or accuracy. |
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