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List of presidents of the Bank of New York

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The following is a list of presidents of Bank of New York from inception in 1784 until its 2007 merger with Mellon Financial.

History

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The Walton Mansion housed the Bank of New York from 1784 to 1787.

The Bank of New York was formed following a June 1784 meeting at a coffee house on St. George's Square.[1] The bank operated without a charter for seven years.[2] The bank opened on June 9, 1784, with Alexander McDougall as the first president and William Seton as Cashier.[3][4][5][6] Its first offices were in the old Walton Mansion in New York City.[7][3][4] In 1787, it moved to a site on Hanover Square that the New York Cotton Exchange later moved into.[8][3]

The bank provided the United States government its first loan in 1789. The loan was orchestrated by Alexander Hamilton, then Secretary of the Treasury, and it paid the salaries of United States Congress members and President George Washington.[9] The Bank of New York was the first company to be traded on the New York Stock Exchange when it first opened in 1792.[10] In 1796, the bank moved to a location at the corner of Wall Street and William Street, which would later become 48 Wall Street.[3][11]

Bank of New York 3 dollar banknote
1808 Bank of New York 3 dollar banknote

In 1969, the Bank of New York Company was established as a holding company with the Bank of New York as the largest operating unit of Company. Elliott Averett, who joined the bank in 1940, was elected president of the bank in 1968, became chief executive officer in 1973 and chairman of both the bank and the holding company in 1974. J. Carter Bacot was appointed president of the bank in 1974 and president of the holding company five years later.[12] In January 1982, Bacot became chief executive officer and chairman following the death of Averett.[13] Bacot continued to hold his other posts of president of the holding company and president and chief executive officer of the bank.[14]

Presidents

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# Photo Name Term start Term end Ref
1 Alexander McDougall 1784 1785 [1]
2 Jeremiah Wadsworth 1785 1786 [1]
3 Isaac Roosevelt 1786 1791 [1]
4 Gulian Verplanck† 1791 1799 [15]
5 Nicholas Gouverneur† 1799 1802 [15]
6 Herman LeRoy 1802 1804 [15]
7 Matthew Clarkson† 1804 1825 [1]
8 Charles Wilkes 1825 1832 [16]
9 Cornelius Heyer† 1832 1843 [1]
10 John Oothout† 1843 1858 [1]
11 Anthony P. Halsey† 1858 1863 [1]
12 Charles P. Leverich† 1863 1876 [1]
13 Charles M. Fry 1876 1892 [17]
14 Ebenezer S. Mason† 1892 1900 [18]
15 Herbert L. Griggs 1901 1922 [19][20]
16 Edwin G. Merrill 1922 1931 [21]
17 John C. Traphagen 1931 1948 [22]
18 Albert C. Simmonds Jr. 1948 1957 [23]
19 Donald M. Elliman 1957 1961 [24]
20 Samuel H. Woolley 1962 1968 [25][26][27]
21 Elliott Averett 1968 1974 [12]
22 J. Carter Bacot 1974 1982 [28]
23 Peter Herrick 1982 1992 [29][30][31]
24 Thomas A. Renyi 1992 2007 [32]
† Died in office

Chairman of the Board of Trustees

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# Photo Name Term start Term end Ref
John C. Traphagen 1948 1957 [33][34]
Albert C. Simmonds Jr. 1957 1963 [23]
Charles M. Bliss 1963 1968 [35][36]
Samuel H. Woolley 1969 1974 [37]
Elliott Averett† 1974 1982 [28]
J. Carter Bacot 1982 1998 [28]
Thomas A. Renyi 1998 2007 [32]
† Died in office

References

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  1. ^ a b c d e f g h i Domett, Henry Williams (1884). A History of the Bank of New York, 1784-1884. G. P. Putman's Sons. Retrieved 5 December 2024.
  2. ^ Moss, David A. (2017). Democracy. London: Harvard University Press. p. 113. ISBN 978-0-674-97145-5.
  3. ^ a b c d "The Story of the Bank of New York; Oldest in New York and Second Oldest Recognized Bank in the Country". The New York Times. June 14, 1909. ISSN 0362-4331.
  4. ^ a b Jaffe, Steven H.; Lautin, Jessica (2014). Capital of Capital: Money, Banking, and Power in New York City. New York: Columbia University Press. pp. 9, 23. ISBN 978-0231537711. Retrieved January 14, 2015.
  5. ^ Hubbard, J. T. W. (1995). For Each, the Strength of All: A History of Banking in the State of New York. NYU Press. p. 43. ISBN 978-0-8147-3514-5.
  6. ^ Alexander Hamilton, James (1869). Reminiscences of James A. Hamilton: or, Men and events, at home and abroad, during three quarters of a century. C. Scribner & co. p. 265.
  7. ^ Teather, David (December 5, 2006). "Bank of New York merges with Mellon in £8bn deal". The Guardian. London. Retrieved January 14, 2015.
  8. ^ "BANKS MORE THAN A CENTURY OLD The Story of American Centenarian Banks from Their Inception. OUR VETERAN VAULTS Bank of New York, Manhattan Company, Merchants' National, Bank of North America, and Farmers and Mechanics'". The New York Times. May 20, 1907. p. 12. Retrieved 5 December 2024.
  9. ^ "Temporary Loan of 1789". Rhodes' Journal of Banking. Vol. 21. Chicago: B. Rhodes & Company. 1894. p. 752. Retrieved January 14, 2015.
  10. ^ "Bank of New York Profile". The New York Job Source. Archived from the original on June 9, 2018. Retrieved August 8, 2007.
  11. ^ "Timeline". BNY Mellon. Retrieved April 13, 2018.
  12. ^ a b "BUSINESS PEOPLE; BANK OF NEW YORK NAMES NEW CHIEF". The New York Times. Dec 11, 1981. Retrieved 5 December 2024.
  13. ^ Cook, Joan (Jan 13, 1982). "ELLIOTT AVERETT IS DEAD AT 64; BANK OF NEW YORK CHAIRMAN". The New York Times. p. 21. Retrieved 5 December 2024.
  14. ^ Sloane, Leonard (Jan 13, 1982). "Business People; BANK OF NEW YORK AND PARENT FILL POST". The New York Times. Retrieved 5 December 2024.
  15. ^ a b c "The Bank of the United States". The Journal of American History. Associated Publishers of American Records. 1921. Retrieved 4 December 2024.
  16. ^ "Bank Statistics". The Bankers Magazine and Statistical Register. Wm. Crosby: 853. 1853. Retrieved 5 December 2024.
  17. ^ FRY, President, CHARLES M. (September 8, 1888). "THE BANK OF NEW-YORK". The New York Times. Retrieved 5 December 2024.
  18. ^ "Ebenezer S. Mason". The New York Times. 22 September 1900. p. 7. Retrieved 5 December 2024.
  19. ^ "Herbert L. Griggs | 1855-1944" (PDF). licf.org. The New York Community Trust. Retrieved 5 December 2024.
  20. ^ "HERBERT L. GRIGGS, BANKER, 89, IS DEAD; Head of the Bank of New York and Trust Co., 1901-25 -- Active in Field 5 Decades". The New York Times. September 21, 1944. Retrieved 5 December 2024.
  21. ^ "EDWIN G. MERRILL, FINANCIER, WAS 76; Honorary Chairmanof Board of Bank of New York Dies-- Was in Field 56 Years". The New York Times. Jan 17, 1950. Retrieved 5 December 2024.
  22. ^ Clark, Alfred E. (Oct 5, 1979). "John C. Traphagen, 90, Ex‐Banker". The New York Times. Retrieved 5 December 2024.
  23. ^ a b "A.C. SIMMONDS JR., BANKER, 60, DEAD; Headed Bank of New York --Led State Association". The New York Times. June 24, 1963. Retrieved 5 December 2024.
  24. ^ "27th President Chosen By Bank of New York". The New York Times. December 19, 1957. p. 49. Retrieved 5 December 2024.
  25. ^ "Samuel H. Woolley Is Elected President of Bank of New York; BANK OF NEW YORK ELECTS PRESIDENT". The New York Times. December 13, 1961. Retrieved 5 December 2024.
  26. ^ "The Top of the Financial News". Bankers Monthly. Hanover Publishers: 5. 1962. Retrieved 5 December 2024.
  27. ^ Landler, Mark (July 11, 1995). "Samuel Woolley, 86; Engineered Mergers At Bank of New York". The New York Times. Retrieved 5 December 2024.
  28. ^ a b c Sloane, Leonard (Feb 10, 1982). "BUSINESS PEOPLE; President For Bank Of New York". The New York Times. Retrieved 5 December 2024.
  29. ^ Cuff, Daniel F. (Jan 12, 1984). "BUSINESS PEOPLE". The New York Times. Retrieved 5 December 2024.
  30. ^ United States Congress House Committee on Banking, Finance, and Urban Affairs Subcommittee on Domestic Monetary Policy (1986). The Federal Reserve Bank of New York Discount Window Advance of $22.6 Billion Extended to the Bank of New York: Hearing Before the Subcommittee on Domestic Monetary Policy of the Committee on Banking, Finance, and Urban Affairs, House of Representative, Ninety-ninth Congress, First Session, December 12, 1985. U.S. Government Printing Office. p. 134. Retrieved 5 December 2024. {{cite book}}: |last1= has generic name (help)CS1 maint: multiple names: authors list (link)
  31. ^ Bryant, Adam (March 11, 1992). "BUSINESS PEOPLE; The Bank of New York Appoints New President". The New York Times. Retrieved 5 December 2024.
  32. ^ a b Dash, Eric (2006-12-05). "Bank of New York and Mellon Will Merge". New York Times. Retrieved 2007-08-08.
  33. ^ "CHANGES ANNOUNCED Bank of New York and Fifth Ave. Bank Shifts Officers". The New York Times. June 10, 1948. Retrieved 5 December 2024.
  34. ^ "MERGER IS PLANNED BY TWO OLD BANKS Bank of New York, Founded in 1784 by Hamilton, to Join With Fifth Ave. Bank". The New York Times. March 11, 1948. Retrieved 5 December 2024.
  35. ^ "Bank of New York Elevates Three". The New York Times. July 10, 1963.
  36. ^ "Charles M. Bliss, 87, Retired Bank Official". The New York Times. July 16, 1991. Retrieved 5 December 2024.
  37. ^ "Senior Officers Named By Bank of New York". The New York Times. Dec 11, 1968. Retrieved 5 December 2024.
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