![]() "The Rockefeller-controlled Chase Manhattan Bank tops the list, controlling 16 companies." A 1979 study titled "The Significance of Bank Control over Large Corporations" provided an estimate for which large U.S.-based financial institutions had the most control over other corporations. ĭuring this period, Chase Manhattan expanded its influence over many non-financial corporations. That year Rockefeller traveled to China, resulting in his bank becoming the National Bank of China's first correspondent bank in the U.S. In 1973, Chase established the first branch of an American bank in Moscow, in the then Soviet Union. ĭuring his term as CEO, Chase spread internationally and became a central component of the world's financial system due to its global network of correspondent banks, the largest in the world. He was also, as recently as 1980, the single largest individual shareholder of the bank, holding 1.7% of its shares. He was both the chairman and chief executive of Chase Manhattan from 1969 to 1980 and remained chairman until 1981. He served in other positions and became president in 1960. ![]() This position maintained relationships with more than 1,000 correspondent banks throughout the world. There he financed international trade in a number of commodities, such as coffee, sugar and metals. Rockefeller started as an assistant manager in the foreign department. Chase National became the Chase Manhattan Bank in 1955 and shifted significantly into consumer banking. The bank is 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 Exxon Mobil. The Chase Bank was primarily a wholesale bank, dealing with other prominent financial institutions and major corporate clients such as General Electric, which had, through its RCA affiliate, leased prominent space and become a crucial first tenant of Rockefeller Center in 1930. ![]() The chairman at that time was Rockefeller's uncle Winthrop W. In 1946, Rockefeller joined the staff of the longtime family-associated Chase National Bank. Banking ĭavid Rockefeller meeting Iraqi financiers Jawad Hashim and Nemir Kirdar in 1979. During this period, he called on family contacts and Standard Oil executives for assistance. For seven months he served as an assistant military attaché at the American Embassy in Paris. He served as a " Ritchie Boy" secret unit specially trained at Fort Ritchie, Maryland. During World War II he served in North Africa and France (he spoke fluent French) for military intelligence, setting up political and economic intelligence units. Army and entered Officer Candidate School in 1943. From 1941 to 1942, Rockefeller was assistant regional director of the United States Office of Defense, Health and Welfare Services. Although the mayor pointed out to the press that Rockefeller was only one of 60 interns in the city government, his working space was the vacant office of the deputy mayor. Career Government service Īfter completing his studies in Chicago, he became secretary to New York Mayor Fiorello La Guardia for eighteen months in a " dollar a year" public service position. ĭuring his time abroad, Rockefeller briefly worked in the London branch of what was to become the Chase Manhattan Bank.Īfter returning to the United States to complete his graduate studies, he received a Ph.D. He also studied economics for a year at Harvard and then a year at the London School of Economics (LSE). In 1936, Rockefeller graduated cum laude from Harvard University, where he worked as an editor on The Harvard Crimson. Rockefeller attended the experimental Lincoln School at 123rd Street in Harlem. David's five elder siblings were Abby, John III, Nelson, Laurance, and Winthrop. ![]() Senator Nelson Wilmarth Aldrich and Abigail Pearce Truman "Abby" Chapman. His mother Abby was a daughter of Rhode Island U.S. and schoolteacher Laura Celestia "Cettie" Spelman. was the only son of Standard Oil co-founder John Davison Rockefeller Sr. and socialite Abigail Greene "Abby" Aldrich. Rockefeller was the youngest of six children born to financier John Davison Rockefeller Jr. He grew up in an eight-story house at 10 West 54th Street, the tallest private residence ever built in the city. ![]()
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