Copyright 2013 - Drexel Morgan & Co. | * As of December 31, 2012.
"In 1871, when robber barons dominated the chaotic world of Wall Street, the respected Philadelphia banker Anthony J. Drexel persuaded a bright young financier named J. Pierpont Morgan to form a new banking partnership in New York called Drexel, Morgan & Co. Over the next generation, this marriage of integrity and creativity played a leading role in stabilizing and revitalizing the U.S. economy.
Drexel Morgan's unique combination of immigrant entrepreneurship and Yankee ingenuity created a national capital market for industrial companies- a market that had previously existed only for railroads and canals. To restore investor confidence, Drexel Morgan underwrote the pay of the entire U.S. Army when Congress refused to do so in 1877, bailed out the U.S. Government during the Panic of 1895 and rescued the New York Stock Exchange during the Panic of 1907."
- Written for Drexel Morgan & Co. by noted historian Dan Rottenberg,
author of The Man Who Made Wall Street: Anthony J. Drexel and the Rise of Modern Finance.
Provides fully outsourced solutions
Quality Investing™ and Trust Services
performed with our time-tested strategy
The legendary Drexel Morgan partnership survived through most of the 20th century as two separate but closely related firms: J.P. Morgan & Co. in New York and Drexel & Co. in Philadelphia. George W. Connell spent more than 25 years with these two houses, becoming a principal of Drexel in 1967. Mr. Connell is one of few individuals registered with Drexel as a principal in 1967 who remains actively engaged in investment management today. In 1979, Mr. Connell left Drexel to create the firm now known as The Haverford Trust Company.
After J.P. Morgan & Co. merged with the Chase Manhattan Corp. in 2001, Mr. Connell obtained the rights to the Drexel Morgan & Co. name for the parent company of Haverford Trust. Today, Drexel Morgan & Co. and its subsidiaries manage or consult on more than $10 billion in assets*. We continue to dedicate our company to the timeless values of integrity, intelligence and prudence embodied by Anthony J. Drexel and J. Pierpont Morgan.
Drexel Morgan's mission is to build and preserve wealth for generations. The firm's two main subsidiaries – Drexel Morgan Capital Advisers and The Haverford Trust Company – reflect the original remarkable alliance by applying a common perspective and sound philosophy to a broad range of sophisticated clients including individuals, corporations and endowment funds.
For further information, please call Paul S. Rovner on 610-293-7200 or email: provner@drexelmorgan.com.