Manufacturers Hanover Trust Company

Manufacturers Hanover Trust Company

 

one of the largest commercial banks in the United States. In total deposits as of 1973 it ranks fourth among major American commercial banks and controls assets worth more than $16 billion.

The Manufacturers Hanover Trust Company was formed in 1961 in New York after the Manufacturers Trust Company, founded in 1905, absorbed the Hanover Bank, founded in 1831. Through a system of interlocking directorates, the Manufacturers Hanover Trust Company has close ties with many of the largest monopolistic conglomerates, such as the Union Carbide Corporation and Reynolds Metals in nonferrous metallurgy and Paramount Pictures in the film industry. The bank is a member of the Federal Reserve System and the Federal Deposit Insurance Corporation.

The bank’s primary operations are attracting capital and extending short-term credit for industry and commerce. The bank also carries on extensive operations in securities (especially government securities), accepts small savings accounts, and grants consumer loans. During the 1960’s the bank’s volume of foreign trade and currency transactions grew rapidly. It has an extensive network of 172 branches in the country. The Manufacturer’s Hanover Trust Company has foreign branches in London, Frankfurt am Main, Nassau, Tokyo, Zurich, and Bucharest, as well as representatives in Paris, Rome, Madrid, Beirut, Manila, Hong Kong, Bangkok, Sydney, and Nairobi and in the capitals of numerous countries in Central and South America. The bank’s total balance as of Dec. 31, 1973, was $19.85 billion. Deposits totaled $17.21 billion, outstanding loans $13, 672 billion, investments $1, 471 billion, and paid capital $217 million.

V. I. RYZHIKOVA

References in periodicals archive ?
and has worked at Manufacturers Hanover Trust Company, Bankers Trust Company and The Northern Trust Company.
Holding a BA from Hamilton College and an MBA from New York University, she has also served in treasury services-related positions with Manufacturers Hanover Trust Company, Ernst & Young and Morgan Stanley.
He has held positions with HIGroup, LLC, Jones Lang Wootton (subsequently Jones Lang LaSalle) and Manufacturers Hanover Trust Company.
He began his career with Manufacturers Hanover Trust Company in corporate lending.
His experience includes positions in the Investment Banking Group and on the New York Large-Project Lending Team for the Real Estate Division of Manufacturers Hanover Trust Company.
He also established and ran the Global Shipping Group for Manufacturers Hanover Trust Company.
She previously had 15 years of corporate banking experience, primarily at Manufacturers Hanover Trust Company where she held a number of positions in corporate finance and relationship management.
Earlier, he was senior executive vice president of the Manufacturers Hanover Trust Company based in New York City, and held other leadership roles with banks and banking organizations in Florida and Indiana.
Cooley previously served in various corporate finance positions at Atlantic Richfield Company in Los Angeles, and spent several years in the national banking division of Manufacturers Hanover Trust Company in New York.
Other positions include Managing Director and Senior Risk Manager at GE Capital, and various senior level positions at The Bank of New York and Manufacturers Hanover Trust Company.
Thus, Fifth Avenue fades into wet darkness, leaving the 1954 Manufacturers Hanover Trust Company building, by Skidmore, Owings & Merrill, gloriously illuminated from within, transcending its environment as though it were a kind of abstract thing--which it is, of course, if one forgets its function.
He previously served as president of Chemical Banking Corporation and vice chairman of Manufacturers Hanover Corporation and Manufacturers Hanover Trust Company.

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