JPMorgan Chase & Co. will merge with Goldman Sachs Group Inc., the Wall Street bank said Tuesday, bringing the two largest U.S. banks under one umbrella.

The move will make JPMorgan the largest private-equity bank in the world and Goldman a larger, more publicly traded global banking firm, according to the deal announced by Chief Executive Officer Jamie Dimon.

The companies will pay a combined $6.5 billion for the combined companies and will be called JPMorgan Chase Bank USA.

The deal will create the largest U:U merger of any financial institution in history, according the terms of the agreement.

JPMorgan Chase will have $15.8 trillion in assets under management, with assets under its control of $11.2 trillion, according its latest financial statement.

The company said it will focus on “investment banking, credit management, and other investment and lending activities.”

JPMorgan Chase is also expected to increase its headcount and its size.

The bank’s new CEO, Jamie Dimons role in the deal was announced Tuesday morning.

“We are delighted to be joining forces with a world-class company, and we look forward to working with them to drive innovation and grow our businesses,” Dimons said in a statement.

JPMorgan, which has been battling an outbreak of coronavirus, has made moves to expand into the United States and abroad.

JPMorgan and Goldman, the largest bank by assets in the U.K., are among the banks that have raised capital to deal with the virus.

The two banks have also partnered to fight other types of global financial issues.

In December, JPMorgan said it was considering a $1 billion buyout of Citigroup Inc. and $3 billion buyback of UBS AG.

In October, JPMorgan agreed to buy UBS’s business for $1.1 billion, a move that helped spur a stock market rally.

A merger is expected to be finalized in the next several months, Dimon said in an interview with Bloomberg News.

JPMorgan has said it intends to retain a majority stake in the bank, but Goldman is the biggest shareholder.

Goldman Sachs is expected continue its investment banking business and focus on the global banking market, according Dimon, who has made the announcement while the bank is grappling with the crisis.

JPMorgan is a large U.U. company and is among the biggest U.N. banks.

It has about $5.2 billion of assets under control, including more than $1 trillion in derivatives.

It said in the financial statement that it plans to continue to invest in other businesses and to improve the bank’s ability to do business in the global financial marketplace.

It also said it would increase its capital to $20 billion and will focus more on its international business, including the U:S.

and U.A.E. markets.

The U.B. of Europe said in November that it planned to divest its banking assets from JPMorgan in order to better focus its resources on banking.