JPMorgan Chase & Co. is a multinational banking and financial services holding company headquartered in New York City. It is the largest bank in the United States, the world's sixth largest bank by total assets, with total assets of US$2.35 trillion, and the world's most valuable bank by market capitalization. It is a major provider of financial services, and according to Forbes magazine is the world's sixth largest public company based upon a composite ranking. The hedge fund unit of JPMorgan Chase is the second largest hedge fund in the United States. The company was formed in 2000, when Chase Manhattan Corporation merged with J.P. Morgan & Co.