Chase traces its history back to the founding of The Manhattan Company in 1777. In 1798 it was New York's second bank, rivaling Alexander Hamilton's Bank of New York.Chase National Bank was formed in 1877 by John Thompson. Chase National Bank acquired a number of smaller banks through its Chase Securities Corporation throughout the 1920s. Its most significant acquisition though was the Equitable Trust Company of New York in 1930, the largest stockholder of which was John D. Rockefeller Jr. This made it the largest bank in America and indeed the world. Chase was primarily a wholesale bank, dealing with other prominent financial institutions and major corporate clients such as General Electric. The bank also is closely associated with and has financed the oil industry, having longstanding connections with its board of directors to the successor companies of Standard Oil, especially Exxon Mobil. In 1955 Chase National Bank and The Manhattan Company merged to create Chase Manhattan Bank. . In 1969, under the leadership of David Rockefeller, the bank became part of a bank holding company, the Chase Manhattan Corporation. In July of 1996 The Chase Manhattan Bank was purchased by Chemical Bank of New York, who had recently acquired Manufacturers Hanover Corporation. The name Chase Manhattan Corporation was retained, as the name was better known globally, although the state charter remained that of Chemical Bank. The subsequent acquisition of J.P. Morgan & Co. by the Chase Manhattan Corporation was completed in December 2000. The combined company was renamed JPMorgan Chase & Co. The bank also acquired Bank One in 2005, making Chase the largest credit card issuer in the US. JPMorgan. Chase also acquired Bear Stearns & Co. in 2008.