Brown Brothers Harriman & Co.
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Brown Brothers Harriman & Co. is the oldest and largest partnership bank in the United States. It was created through the 1931 merger of Brown Bros. & Co., a merchant bank founded in Philadelphia, Pennsylvania in 1818 with Harriman Brothers & Company, established in New York City in 1927, and A. Harriman & Company.
Its initial partners were:
- Thatcher Brown
- Prescott S. Bush
- Louis Curtis
- Moreau Delano
- W. Averell Harriman
- E. Roland Harriman
- Robert A. Lovett
- Ray Morris
- Knight Woolley
Harriman Bank was the main Wall Street connection for German companies and the varied U.S. financial interests of Fritz Thyssen, who had been an early financial backer of the Nazi party until 1938, but who by 1939 had fled Germany and was bitterly denouncing Hitler. All the bank's dealing were fully approved by the U.S. Treasury department, which insisted that trusted Americans handle all the German business in the United States. Once war was declared in December 1941 President Roosevelt signed the Trading With the Enemy Act. On October 20, 1942, the U.S. government ordered the seizure of all German banking interests.[[Citing sources citation needed]]
Today the firm of 40 partners has over $3 billion in assets, and employs around 2,700 people in sixteen locations around the world.
In 2003, the company moved from its signature location at 59 Wall Street, which it had built and occupied since the 1920s, to the Marine Midland Building at Broadway.
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