77-637: The Rockefeller Brothers Fund ( RBF ) is a philanthropic foundation created and run by members of the Rockefeller family . It was founded in New York City in 1940 as the primary philanthropic vehicle for the five third-generation Rockefeller brothers: John , Nelson , Laurance , Winthrop and David . It is distinct from the Rockefeller Foundation . The Rockefellers are an industrial, political and banking family that made one of
154-643: A $ 5 billion endowment, the Rockefeller Foundation was "the largest US foundation to embrace the rapidly growing divestment movement." CNN writer Matt Egan noted, "This divestment is especially symbolic because the Rockefeller Foundation was founded by oil money." In May 2021 Rockefeller descendants Rebecca Rockefeller Lambert and Peter Gill Case announced a ten-year funding initiative, the Equation Campaign, to fight new fossil fuel development. The Rockefeller family archives are held at
231-546: A cost-cutting strategy and replaced former JPMorgan Chase executives in key positions with Bank One executives—many of whom were with Dimon at Citigroup . Dimon became CEO in January 2006 and chairman in December 2006 after Harrison's resignation. Bank One Corporation was formed upon the 1998 merger between Banc One of Columbus, Ohio and First Chicago NBD . These two large banking companies were themselves created through
308-417: A crucial first tenant of Rockefeller Center . They rescued 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 part of Rockefeller holdings. In 1955, Chase National Bank and The Manhattan Company merged to create
385-531: A lawsuit which cited evasive dealings and misleading statements by several Chase executives including Securities Vice President Adam Gelcich, Legal Fair Lending Department Vice President Deb Vincent, and an unnamed executive director and assistant general counsel. In addition to closing accounts for sex workers, the bank has also been using its "morality clause" to disassociate from other types of businesses. Some of these other businesses include medical marijuana dispensaries and any that are "gun related". Another
462-882: A long association with, and control of, Chase Manhattan Bank . By 1987, the Rockefellers were considered one of the most powerful families in American history . The Rockefellers originated in Rhineland in Germany and family members moved to the Americas in the early 18th century, while through Eliza Davison, with family roots in Middlesex County , New Jersey , John D. Rockefeller and William A. Rockefeller Jr. and their descendants are also of Scots-Irish ancestry. The Rockefeller family traces their origin to
539-737: A moral imperative and an economic opportunity" (30 September 2014). The Rockefeller Family Fund and the Rockefeller Brothers Fund are independent, distinct institutions. From 1956 to 1960, the Fund financed a study conceived by its then president, Nelson Rockefeller , to analyze the challenges facing the United States. Henry Kissinger was recruited to direct the project. Seven panels were constituted that looked at issues including military strategy, foreign policy, international economic strategy, governmental reorganization, and
616-479: A result of the takeover, Washington Mutual shareholders lost all their equity . Through the acquisition, JPMorgan became owner of the former accounts of Providian Financial , a credit card issuer WaMu acquired in 2005. The company completed the rebranding of Washington Mutual branches to Chase in late 2009. In the first quarter of 2006, Chase purchased Collegiate Funding Services , a portfolio company of private equity firm Lightyear Capital , for $ 663 million. CFS
693-454: A retail presence from any of the "Big Four" , with locally based PNC Financial Services (no. 6 nationally) having a commanding market share in the area. Chase had previously considered buying National City branches from PNC that were required for divesture following that bank's acquisition of National City in 2009, but were instead sold to First Niagara Bank (since absorbed into KeyBank ); it had been speculated that PNC intentionally sold
770-590: A similar expansion within the area the previous year. Even though Chase entered the market organically as opposed to a merger & acquisition, they still had to receive approval from the Office of the Comptroller of the Currency to open branches due to Chase's size as a whole. Before Chase and Bank of America expanded its retail presence into the market, Pittsburgh had been one of the largest U.S. cities without
847-491: Is David Rockefeller Jr. In 1992, it had five main arms: The family was heavily involved in numerous real estate construction projects in the U.S. during the 20th century. Chief among them: Over the generations, the family members have resided in some historic homes. A total of 81 Rockefeller residences are on the National Register of Historic Places . Not including all homes owned by the five brothers, some of
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#1732765320717924-567: Is part of the Steering Group of the Foundations Platform F20 , an international network of foundations and philanthropic organizations. The Rockefeller Brothers Fund was established in 1940 by the five sons of John D. Rockefeller Jr. The five Rockefeller brothers served as the Fund's first five trustees. In 1951, the Fund grew substantially when it received a $ 58 million endowment from John D. Rockefeller Jr. In 1999,
1001-547: The Manhattan Company (est. 1799) Chase National Bank of the City of New York (est. 1877) In 2004, JPMorgan Chase merged with Chicago -based Bank One Corp. , bringing on board its current chairman and CEO Jamie Dimon as president and COO and designating him as CEO William B. Harrison Jr. 's successor. Dimon's pay was pegged at 90% of Harrison's. Dimon quickly made his influence felt by embarking on
1078-644: The Blackstone Group ), and Paul Volcker . In 1991, the family was presented with the Honor Award from the National Building Museum for four generations worth of preserving and creating some of the U.S.'s most important buildings and places. David accepted the award on the family's behalf. The ceremony coincided with an exhibition on the family's contributions to the built environment, including John Sr.'s preservation efforts for
1155-561: The Chase National Bank , which was founded in 1877; the merged bank was called The Chase Manhattan Bank. Chase traces its history back to the founding of The Manhattan Company by Aaron Burr on September 1, 1799, in a house at 40 Wall Street: After an epidemic of yellow fever in 1798, during which coffins had been sold by itinerant vendors on street corners, Aaron Burr established the Manhattan Company, with
1232-642: The Du Ponts and the Mellons . A primary reason has been the lifelong efforts of "Junior" to not only cleanse the name from the disgrace stemming from the ruthless practices of Standard Oil but his tireless efforts to forge family unity even as he allowed his five sons to operate independently. This was partly achieved by regular brothers and family meetings, but it was also because of the high value placed on family unity by first Nelson and John III, and later especially with David. Regarding achievements, in 1972, on
1309-630: The Hudson River Palisades , the restoration of Williamsburg, Virginia , construction of Rockefeller Center , and Governor Nelson's efforts to construct low- and middle-income housing in New York state. The Rockefeller name is imprinted in numerous places throughout the United States, including within New York City , but also in Cleveland , where the family originates: John Jr., through his son Nelson , purchased and then donated
1386-574: The Iranian Revolution and was in poor health, for medical treatment in the United States. In 1998, he was awarded the Presidential Medal of Freedom by President Bill Clinton for his work on International Executive Service Corps . A trademark of the dynasty over its 140-plus years has been the remarkable unity it has maintained, despite major divisions that developed in the late 1970s, and unlike other wealthy families such as
1463-780: The Legion d'Honneur (subsequently also awarded decades later to his son, David Rockefeller ). He also funded the excavations at Luxor in Egypt, as well as establishing a Classical Studies School in Athens . In addition, he provided the funding for the construction of the Palestine Archaeological Museum in East Jerusalem - the Rockefeller Museum . Beginning with John D. Rockefeller Sr. ,
1540-525: The Nazi occupation . The Chase branch chief in Paris, France, Carlos Niedermann, told his supervisor in New York that there had been an "expansion of deposits". Also, Niedermann was, "very vigorous in enforcing restrictions against Jewish property, even going so far as to refuse to release funds belonging to Jews in anticipation that a decree with retroactive provisions prohibiting such release might be published in
1617-642: The Rockefeller Archive Center at the family estate. Rockefeller family The Rockefeller family ( / ˈ r ɒ k ə f ɛ l ər / ROCK -ə-fell-ər ) is an American industrial , political , and banking family that owns one of the world's largest fortunes. The fortune was made in the American petroleum industry during the late 19th and early 20th centuries by brothers John D. Rockefeller and William A. Rockefeller Jr. , primarily through Standard Oil (the predecessor of ExxonMobil and Chevron Corporation ). The family had
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#17327653207171694-621: The United Kingdom retail banking market by launching an app-based current account and Deposit account under the Chase brand. This is the company's first retail banking operation outside of the United States. A press release from the National Archives and Records Administration (NARA) in 2004 announced that many of the new Federal Bureau of Investigation (FBI) files had become declassified. This declassification enabled
1771-483: The largest bank in the United States as well as the bank with the most branches in the United States and the only bank with a presence in all of the contiguous United States . JPMorgan Chase, through its Chase subsidiary, is one of the Big Four banks of the United States. The Bank of The Manhattan Company (New York) was founded on September 1, 1799, and continued under that name until 1955, when it merged with
1848-566: The receivership of the Federal Deposit Insurance Corporation (FDIC). That night, the Office of Thrift Supervision , in what was by far the largest bank failure in American history, seized Washington Mutual Bank and placed it into receivership. The FDIC sold the bank's assets, secured debt obligations and deposits to JPMorgan Chase Bank, NA for $ 1.888 billion, which re-opened the bank the following day. As
1925-511: The $ 16 billion JPMorgan Chase has paid, about $ 8.5 billion were for fines and settlements resulting from illegal actions taken by bank executives, according to Richard Eskow at the Campaign for America's Future, who cited a new report from Joshua Rosner of Graham Fisher & Co. The $ 16 billion total does not include a recent settlement that calls for JPMorgan Chase to pay $ 100 million to waive $ 417 million in claims it had made against clients of
2002-540: The 100th anniversary of the founding of Andrew Carnegie 's philanthropy, the Carnegie Corporation , which has had a long association with the family and its institutions, released a public statement on the influence of the family on not just philanthropy but encompassing a much wider field. Summing up a predominant view among the international philanthropic world, albeit one poorly grasped by the public, one sentence of this statement read: "The contributions of
2079-535: The Bank of the Manhattan Company of Chase National, with John J. McCloy becoming chairman of the merged entity. This avoided the need for unanimous consent by shareholders. For Chase Manhattan Bank's new logo, Chermayeff & Geismar designed a stylized octagon in 1961, which remains part of the bank's logo today. It has been reported that the Chase logo was a stylized representation of the primitive water pipes laid by
2156-514: The Chase Manhattan Bank. As Chase was a much larger bank, it was first intended that Chase acquire the "Bank of Manhattan", as it was nicknamed, but it transpired that Burr's original charter for the Manhattan Company had not only included the clause allowing it to start a bank with surplus funds, but another requiring unanimous consent of shareholders for the bank to be taken over. The deal was therefore structured as an acquisition by
2233-625: The FBI began its investigation in October 1940. The purpose of the investigation was to follow German-Americans who had bought the Marks. However, Chase National Bank's executives were never federally prosecuted because Chase's lead attorney threatened to reveal FBI , Army , and Navy "sources and methods" in court. Publicly naming the sources and methods could have posed security risks and threatened future intelligence gathering . To avoid such revelations,
2310-604: The French government formed a commission to report findings to Prime Minister Lionel Jospin . Claire Andrieu , a commission member and history professor at the Sorbonne , said that under the Vichy regime, French banks received visits from Nazi officials but U.S. banks did not. At that time, they did not have to report Jewish accounts, but they did just as the French banks did. She goes on to say that an American ambassador protected
2387-614: The Fund merged with the Charles E. Culpeper Foundation. In November 2006, David Rockefeller pledged $ 225 million to the Fund that would create the David Rockefeller Global Development Fund after his death. In September 2014, the Rockefeller Brothers Fund announced that it planned to divest its assets from fossil fuels . On disinvesting from fossil fuels , the president of the Rockefeller Brothers Fund, Stephen Heintz , said: "We see this as both
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2464-737: The German government paid the commissions (to its agents, including Chase) through the sale of discounted, blocked Marks that came mainly from Jews who had fled Germany ." In other words, Nazi Germany was able to offer these Marks below face-value because they had been stolen from émigrés fleeing the Nazi regime. Between 1936 and 1941, the Nazis amassed over $ 20 million, and the businesses enabling these transactions earned $ 1.2 million in commissions. Of these commissions, over $ 500,000 went to Chase National Bank and its subagents. These facts were discovered when
2541-401: The Manhattan Company, but this story was refuted in 2007 by Ivan Chermayeff himself. According to Chermayeff, the Chase logo was merely intended to be distinctive and geometric, and was not intended at all to resemble a cross-section of a wooden water pipe. According to Chase, the sides of the octagon represent forward motion, while the blank space in the middle suggests progress originates from
2618-795: The Nazi government. The order, which blocked access to French accounts in the U.S. by anyone, especially the Nazis, was issued by Secretary of the Treasury, Henry Morgenthau Jr., with the approval of FDR. Despite this order, Chase unblocked the accounts within hours and the funds were transferred through South America to Nazi Germany. U.S. Treasury officials wanted an investigation of French subsidiaries of American banks, including: Chase Bank, J.P. Morgan & Co , National City Corporation , Guaranty Bank , Bankers Trust , and American Express . Of these banks, only Chase and Morgan remained open in France during
2695-616: The Rockefeller Archive Center in Pocantico Hills, North Tarrytown, New York. At present, the archives of John D. Rockefeller Sr. William Rockefeller, John D. Rockefeller Jr., Abby Aldrich Rockefeller, Abby Rockefeller Mauzé, John D. Rockefeller III, Blanchette Rockefeller, and Nelson Rockefeller are processed and open by appointment to readers in the Archive Center's reading room. Processed portions of
2772-470: The Rockefeller family are staggering in their extraordinary range and in the scope of their contribution to humankind." John D. Rockefeller gave away US$ 540 million over his lifetime (in dollar terms of that time), and became the greatest lay benefactor of medicine in history. His son, Junior, also gave away over $ 537 million over his lifetime, bringing the total philanthropy of just two generations of
2849-462: The Rockefeller family. Chase Manhattan Bank JPMorgan Chase Bank, N.A. , doing business as Chase , is an American national bank headquartered in New York City that constitutes the consumer and commercial banking subsidiary of the U.S. multinational banking and financial services holding company , JPMorgan Chase . The bank was known as Chase Manhattan Bank until it merged with J.P. Morgan & Co. in 2000. Chase Manhattan Bank
2926-575: The U.S. subsidiaries. In May 1999, Chase Manhattan reached a settlement with 20 plaintiffs who filed an asset reparations lawsuit, such as the Claims Conference , a Jewish restitution organization, and the WJC. The settlement subjected Chase to an independent probe of its conduct of activity which occurred from the company's offices in Paris and Châteauneuf-sur-Cher , in southern France, during
3003-562: The World War II-era. The settlement also made possible the company having to eventually a pay modest but symbolically important, payouts to former Chase customers after the probe was completed. It was determined that Chase only owned a sum that was well under $ 1 million in asset reparations by this point in time. The settlement made Chase Manhattan the first bank to reach a settlement over Holocaust -related claims. In February 2000, more than fifty years after information regarding
3080-520: The branches to a much smaller competitor due to not wanting to compete with a "Big Four" bank in its home market. In August 2021, Chase announced that it was the first bank to have a retail presence in all 48 of the contiguous United States . The last state in the US to have a Chase branch was Montana , with the branch in Billings the first branch in the state. In September 2021, JPMorgan Chase entered
3157-888: The center; and is a single unit made up of separate parts, like the bank. The bank included an asset management business called the Chase Investors Management Corporation. Under McCloy's successor, George Champion, the bank relinquished its antiquated 1799 state charter for a modern one. In 1969, under the leadership of David Rockefeller , the bank reorganized as a bank holding company , the Chase Manhattan Corporation . The mergers and acquisitions during this period allowed Chase Manhattan to expand its influence over many non-financial corporations. A 1979 study titled "The Significance of Bank Control over Large Corporations" found that: "The Rockefeller-controlled Chase Manhattan Bank tops
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3234-415: The closing date of the acquisition. According to data from SNL Financial (data as of June 30, 2008), this places Chase third behind Wells Fargo and Bank of America in terms of total U.S. retail bank branches. In October 2010, Chase was named in two lawsuits alleging manipulation of the silver market. The suits allege that by managing giant positions in silver futures and options, the banks influenced
3311-504: The discovery that before and during the early years of World War II , the German government sold a special kind of Reichsmark , known as Rückwanderer [returnee] Marks, to American citizens of German descent. Chase National Bank, along with other businesses, were involved in these transactions. Through Chase, this allowed Nazi sympathizers to purchase Marks with dollars at a discounted rate. Specifically, "The financial houses understood that
3388-818: The executives' violations of the Johnson Act , the Espionage Act , and the Foreign Agents Registration Act were never prosecuted. During the occupation of France by the Nazis, there was a controversial scheme known as the Rückwanderer Mark Scheme. In addition to this, NARA records revealed another controversy involving the release of funds to Nazi Germany. From the late 1930s until June 14, 1941, when President Franklin D. Roosevelt (FDR) issued an Executive Order freezing German assets, Chase National Bank worked with
3465-477: The family and individual members' net worth are closed to researchers. From the outset, the family's wealth has been under the complete control of the male members of the dynasty, through the family office. Despite strong-willed wives who had influence over their husbands' decisions—such as the pivotal female figure Abby Aldrich Rockefeller , wife of John D. Rockefeller Jr.—in all cases they received allowances only and were never given even partial responsibility for
3542-412: The family fortune. Much of the wealth has been locked up in the family trust of 1934 (which holds the bulk of the fortune and matures on the death of the fourth generation) and the trust of 1952, both administered by Chase Bank , the corporate successor to Chase Manhattan Bank. These trusts have consisted of shares in the successor companies to Standard Oil and other diversified investments, as well as
3619-780: The family has been a major force in land conservation. Over the generations, it has created more than 20 national parks and open spaces, including the Cloisters , Acadia National Park , Forest Hill Park , the Nature Conservancy , the Rockefeller Forest in California's Humboldt Redwoods State Park (the largest stand of old-growth redwoods), and Grand Teton National Park , among many others. John Jr. , and his son Laurance (and his son Laurance Jr. aka Larry) were particularly prominent in this area. The family
3696-768: The family to over $ 1 billion from 1860 to 1960. Added to this, The New York Times declared in a report in November 2006 that David Rockefeller 's total charitable benefactions amount to about $ 900 million over his lifetime. The combined personal and social connections of the various family members are vast, both in the United States and throughout the world, including the most powerful politicians, royalty, public figures, and chief businessmen. Figures through Standard Oil alone have included Henry Flagler and Henry H. Rogers . Contemporary figures include Henry Kissinger , Richard Parsons (chairman and CEO of Time Warner ), C. Fred Bergsten , Peter G. Peterson (Senior Chairman of
3773-410: The family's considerable real estate holdings. They are administered by a trust committee that oversees the fortune. Management of this fortune today also rests with professional money managers who oversee the principal holding company, Rockefeller Financial Services, which controls all the family's investments. The Rockefeller Center is no longer owned by the family. Its present chairman and patriarch
3850-681: The firm MF Global . The U.S. Treasury 's Office of Foreign Assets Control found that JPMorgan had illegally aided dictatorships in Cuba , Sudan , Liberia and Iran , including transferring 32,000 ounces of gold bullion (valued at approximately $ 20,560,000) to the benefit of a bank in Iran. JPMorgan did not voluntarily self-disclose the Iranian matter to OFAC . Among its other transgressions, JPMorgan has been found to have: During 2013 and 2014, Chase and other banks received media attention for
3927-576: The illegal seizure of assets during World War Two and has since turned his attention toward Chase. The World Jewish Congress (WJC), entered into discussions with Chase and a spokesperson for the WJC said, "Nobody at Chase today is guilty. They were not involved in whatever happened, but they do accept that they have an institutional responsibility." A Chase spokesman said, "This is a moral issue that we take very seriously." Chase general counsel McDavid added, "that Chase intends to compensate Jewish account holders whose assets were illegally plundered". In 1999,
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#17327653207174004-781: The land upon which sits the United Nations headquarters , in New York, in 1946. Earlier, in the 1920s, he had also donated a substantial amount towards the restoration and rehabilitation of major buildings in France after World War I , such as the Rheims Cathedral , the Fontainebleau Palace and the Palace of Versailles , for which he was later (1936) awarded France's highest decoration, the Grand Croix of
4081-466: The largest banking mergers to date. The combined company was renamed JPMorgan Chase . In 2004, the bank acquired Bank One , making Chase the largest credit card issuer in the United States. JPMorgan Chase added Bear Stearns and Washington Mutual to its acquisitions in 2008 and 2009 respectively. After closing nearly 400 overlapping branches of the combined company, less than 10% of its total, Chase will have approximately 5,410 branches in 23 states as of
4158-487: The list, controlling 16 companies." In 1985, Chase Manhattan expanded into Arizona by acquiring Continental Bank. In 1991, Chase Manhattan expanded into Connecticut by acquiring two insolvent banks. In August 1995, Chemical Bank of New York and Chase Manhattan Bank announced plans to merge. The merger was completed in August 1996. Chemical's previous acquisitions included Manufacturers Hanover Corporation , in 1991, and Texas Commerce Bank , in 1987. Although Chemical
4235-772: The merger of many banks. JPMorgan Chase completed the acquisition of Bank One in Q3 2004. The merger between Bank One and JPMorgan Chase meant that corporate headquarters were now in New York City while the retail bank operations of Chase were consolidated in Chicago. The following is an illustration of Bank One's major mergers and acquisitions and historical predecessors (this is not a comprehensive list): City National Bank & Trust Company (Columbus, Ohio) Farmers Saving & Trust Company First Chicago Corp (est. 1863) NBD Bancorp (Formerly National Bank of Detroit ) (est. 1933) Louisiana's First Commerce Corp. On September 25, 2008, JPMorgan Chase bought most banking operations of Washington Mutual from
4312-582: The more prominent of these residences are: Prominent banker David Rockefeller Sr. was the family patriarch until his death in 2017. In 1960, when his brother Nelson Rockefeller was governor of New York, David Sr. successfully pressed for a repeal of a New York state law that restricted Chase Manhattan Bank from operating outside the city. David Sr. was twice offered the post of Treasury secretary by President Richard M. Nixon , but declined on both occasions. In 1979, he used his high-level contacts to bring Mohammad Reza Shah of Iran , who had been overthrown in
4389-413: The near future by the occupying Nazi authorities" . In 1998, Chase general counsel William McDavid said that Chase did not have control over Niedermann. Whether that claim was true or not, Chase Manhattan Bank acknowledged seizing about 100 accounts during the Vichy regime . Kenneth McCallion, a partner in the New York firm Goodkind Labaton Rudoff & Sucharow, led a lawsuit against Barclays Bank for
4466-420: The now abandoned German village Rockenfeld in the early 17th century. The American family branch is descended from Johann Peter Rockefeller (1681-1763), who migrated from the Rhineland to Philadelphia in the Province of Pennsylvania around 1723. In the US, he became a plantation owner and landholder in Somerville , and Amwell, New Jersey . One of the first members of the Rockefeller family in New York
4543-509: The nuclear arms race. The military subpanel's report was rush-released about two months after the USSR launched Sputnik in October 1957. Rockefeller urged the Republican Party to adopt the finding of the Special Studies Project as its platform. The findings of the project formed the framework of Nelson Rockefeller's 1960 presidential election platform. The project was published in its entirety in 1961 as Prospect for America: The Rockefeller Panel Reports . The archival study papers are stored in
4620-441: The ostensible aim of bringing clean water to the city from the Bronx River but in fact, designed as a front for the creation of New York's second bank, rivaling Alexander Hamilton 's Bank of New York . In 2006, the modern-day Chase bought the retail banking division of the Bank of New York, which then only months later merged with Pittsburgh -based Mellon Financial to form the present-day BNY Mellon . Chase National Bank
4697-457: The papers of Laurance Rockefeller are also open. In addition, the Archive Center has a microfilm copy of the Winthrop Rockefeller papers, the originals of which are held at the University of Arkansas, Little Rock. The papers of the family office, known as the Office of the Messrs. Rockefeller, are also open for research, although those portions that relate to living family members are closed. The total number of blood relative descendants as of 2006
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#17327653207174774-464: The practice of cancelling the personal and business accounts of hundreds of legal sex workers , citing in some instances the " morality clause " of their account agreement. Later it was discovered that this practice included mortgage accounts and business loans. Chase canceled the mortgage refinancing process for one individual, that the bank had initiated, whose production company made soft core films like those broadcast on Cinemax . This resulted in
4851-490: The prices of silver on the New York Stock Exchange 's Comex Exchange since early 2008. The following is an illustration of the company's major mergers and acquisitions and historical predecessors to 1995 (this is not a comprehensive list): The Chemical Bank of New York (est. 1823) Texas Commerce Bank (Formerly Texas National Bank of Commerce) (merged 1864) Manufacturers Trust Company (est. 1905) Hanover Bank (est. 1873) Bank of
4928-409: The source of the family wealth is fossil fuels, we feel an enormous moral responsibility for our children, for everyone -- to move forward." The Rockefeller Brothers Fund announced it was divesting from fossil fuels in September 2014, the Rockefeller Family Fund announced plans to divest in March 2016, and the Rockefeller Foundation pledged to dump their fossil fuel holdings in December 2020. With
5005-505: The successors to his company Standard Oil , for their record on climate change. The Rockefeller Brothers Fund and the Rockefeller Family Fund both backed reports suggesting that ExxonMobil knew more about the threat of global warming than it had disclosed. David Kaiser , grandson of David Rockefeller Sr. and president of the Rockefeller Family Fund, said that the "...company seems to be morally bankrupt." Valerie Rockefeller Wayne, daughter of former Senator Jay Rockefeller , said, "Because
5082-439: The ties between Chase and Nazi Germany was revealed during Congressional hearings, Chase Manhattan publicly acknowledged the deal its predecessor Chase National Bank made with Nazi Germany which helped the German government exchange marks and which also likely originated from the forced sale of assets by Jewish refugees. JPMorgan Chase has paid $ 16 billion in fines, settlements, and other litigation expenses from 2011 to 2013. Of
5159-506: The world's largest fortunes in the oil business during the late 19th and early 20th centuries. The Fund's stated mission is to "advance social change that contributes to a more just, sustainable, and peaceful world." The current president of RBF is Stephen Heintz , who was appointed to the post in 2000. Valerie Rockefeller serves as RBF's chairwoman. She succeeded Richard Rockefeller , the fifth child of David Rockefeller, who served as RBF's chairman until 2013. The Rockefeller Brothers Fund
5236-405: Was a devout Northern Baptist , and he supported many church-based institutions. While the Rockefeller family are mostly Baptists , some of the Rockefellers were Episcopalians . The combined wealth of the family—their total assets and investments plus the individual wealth of its members—has never been known with any precision. The records of the family archives relating to both
5313-529: Was a woman-owned condom manufacturing company called Lovability Condoms . Company founder Tiffany Gaines was rejected by Chase Paymentech services "as processing sales for adult-oriented products is a prohibited vertical" and was told that it was a "reputational risk" to process payment for condoms. Gaines then started a petition to ask Chase to review and change its policy of classifying condoms as an "adult oriented product". The bank later reversed its decision and invited Gaines to submit an application citing that
5390-503: Was about 150. An article in The New York Times in 1937 stated that William Rockefeller had, at that time, 28 great-grandchildren. The following is a list of figures closely aligned with or subordinate to the Rockefeller family. The following is a list of businesses in which the Rockefeller family have held a controlling or otherwise significant interest. The following is a list of philanthropies and other non-profit institutions which were made by or have otherwise been closely tied to
5467-445: Was businessman William A. Rockefeller Sr. , who was born to a Protestant family in Granger, New York . He had six children with his first wife Eliza Davison, a daughter of a Scots-Irish farmer, the most prominent of which were oil tycoons John D. Rockefeller and William A. Rockefeller Jr. , the co-founders of Standard Oil . John D. Rockefeller (known as "Senior", as opposed to his son John D. Rockefeller Jr. , known as "Junior")
5544-802: Was formed by the merger of the Chase National Bank and the Manhattan Company in 1955. The bank merged with Chemical Bank New York in 1996 and later merged with Bank One Corporation in 2004 and in 2008 acquired the deposits and most assets of Washington Mutual . In May 2023, it acquired the assets of First Republic Bank . Chase offers more than 4,700 branches and 15,000 ATMs nationwide and has 18.5 million checking accounts and 25 million debit card users as of 2023. JPMorgan Chase & Co. has 250,355 employees (as of 2016) and operates in more than 100 countries. JPMorgan Chase & Co. had assets of $ 3.31 trillion in 2022 which makes it
5621-462: Was formed in 1877 by John Thompson . It was named after former United States Treasury Secretary and Chief Justice Salmon P. Chase , although Chase (having died four years earlier) 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 . However, its most significant acquisition
5698-608: Was honoured for its conservation efforts in November 2005, by the National Audubon Society , one of the United States' largest and oldest conservation organizations, at which over 30 family members attended. At the event, the society's president, John Flicker, stated: "Cumulatively, no other family in America has made the contribution to conservation that the Rockefeller family has made". In 2016 fifth-generation descendants of John Sr. criticized ExxonMobil , one of
5775-484: 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 the world. Chase was primarily a wholesale bank dealing with other prominent financial institutions and major corporate clients such as General Electric , which had, through its RCA subsidiary, leased prominent space and become
5852-478: Was the nominal survivor, the merged company retained the Chase name since not only was it better known (particularly outside the United States), but also the original charter of Chase required that the name be retained in any future business ventures. Hence, even today, it is known as JPMorgan Chase. In December 2000, the combined Chase Manhattan completed the acquisition of J.P. Morgan & Co. in one of
5929-755: Was used as the foundation for the Chase Student Loans, previously known as Chase Education Finance. In April of that same year, Chase acquired the Bank of New York Co. 's retail and small business banking network. This gave Chase access to 338 additional branches and 700,000 new customers in New York, New Jersey , Connecticut, and Indiana . In 2019, Chase began opening retail branches in Pittsburgh and other areas within Western Pennsylvania ; this coincided with Bank of America starting
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