MORGAN AND COMPANY


Meaning of MORGAN AND COMPANY in English

in full J.p. Morgan And Company, Inc ., American bank holding company operating mainly through its major subsidiary, Morgan Guaranty Trust Company of New York. It is headquartered in New York City. The corporation was formed in 1968 to acquire control of Morgan Guaranty Trust Company, a general commercial bank and trust company established in 1959 in the merger of J.P. Morgan and Company, Inc. (established 1895), and Guaranty Trust Company of New York (1864). The corporation formally acquired this bank in 1969. Most banking is conducted through Morgan Guaranty and includes a full range of domestic commercial banking services, international banking, and trust services. The bank also provides correspondent banking for a number of other banks in the United States. It is involved in the foreign currency spot and forward markets and has interests in banks and firms in several foreign countries. The bank also is a dealer and agent in U.S. government securities, underwrites tax-exempt securities, and is involved in domestic and international money markets. The corporation has nonbank subsidiaries in the fields of fixed-rate loans, real-estate financing (including financing of low-income and community-enterprise housing), corporate and personal trusts, equipment leasing, and real-property leasing.

Britannica English vocabulary.      Английский словарь Британика.