Morgan, Grenfell & Co.

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Morgan, Grenfell & Co.
Industry Investment bank
Fate Acquired
Successors Deutsche Bank
Founded 1838
Headquarters London, UK

Morgan, Grenfell & Co. was a leading London-based investment bank regarded as one of the oldest and once most influential British merchant banks.

History[edit]

The bank was founded by the American George Peabody in 1838 as the UK branch of his US bank which subsequently became known as J.P. Morgan & Co.[1] In 1904, Edward Grenfell was made a partner in the firm, and, in 1909, it underwent a change of name to become Morgan, Grenfell and Company. It played a key role in reconstructing Europe in the 1920s and had an extremely effective corporate finance department.[1] J.P. Morgan & Co. divested 33% of its shares in Morgan Grenfell in 1933 and all the remaining shares in 1982.[2]

In 1990 Morgan Grenfell was acquired by Deutsche Bank for $1.48 billion and was renamed Deutsche Morgan Grenfell [2] until 1999 when the use of the Morgan Grenfell name was discontinued by Deutsche Bank.[3]

Notable current and former employees[edit]

Business[edit]

Politics[edit]

References[edit]

  1. ^ a b Burk, Kathleen
  2. ^ a b Germans to Buy Morgan Grenfell New York Times, 28 November 1989
  3. ^ Morgan Grenfell bites the dust BBC News, 4 June 1999

Further reading[edit]

  • Kathleen Burk, Morgan Grenfell 1838-1988: The Biography of a Merchant Bank, Clarendon Press, 1989 ISBN 978-0-19-828306-5
  • Dominic Hobson, The Pride of Lucifer: the unauthorised Biography of Morgan Grenfell, Mandarin 1991 ISBN 0-7493-0502-9