Jay Bank 1923 New [upd] Jun 2026

: This was a prominent investment bank founded in New York on May 1, 1923. It was established by Joseph Ainslie Bear, Robert B. Stearns, and Harold C. Mayer with $500,000 in capital. Bear Stearns operated independently for most of its history before being acquired by JPMorgan Chase in 2008.

By , the "New York Fed" (often associated with Jay) was solidifying its role as the most powerful branch of the U.S. central banking system. Pierre Jay and the 1923 Landscape jay bank 1923 new