Chase National Bank
Chase National Bank was formed in 1877 by John Thompson. It was named after former United States Treasury Secretary and Chief Justice Salmon P. Chase, although Chase did not have a connection with the bank.
The Chase National Bank acquired a number of smaller banks in the 1920s through its Chase Securities Corporation. In 1926, for instance, it acquired Mechanics and Metals National Bank.
Specimen Stock Certificate
However, its most significant acquisition was that of the Equitable Trust Company of New York in 1930, the largest stockholder of which was John D. Rockefeller, Jr. This made Chase the largest bank in the US and indeed, in the world.
Chase was primarily a wholesale bank, dealing with other prominent financial institutions and major corporate clients, such as General Electric,: 450 which had, through its RCA subsidiary, leased prominent space and become a crucial first tenant of Rockefeller Center, rescuing that major project in 1930. The bank is also 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 ExxonMobil, which are also Rockefeller holdings.
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