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 ?
Earlier in her career, she had held counsel positions with Banc of America Commercial Finance Corporation (NYSE: BAC), First Constitution Financial Corporation, 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.
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.
He has held positions with HIGroup, LLC, Jones Lang Wootton (subsequently Jones Lang LaSalle) and Manufacturers Hanover Trust Company.
and has worked at Manufacturers Hanover Trust Company, Bankers Trust Company and The Northern 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.
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.
Candido began his professional career in 1982 as an attorney with Manufacturers Hanover Trust Company, principally focused on litigation and loan workouts.
The property is now available as a direct result of Chemical's recent merger with Manufacturers Hanover Trust Company, which leased the Rockefeller Center space in 1982, said Russo.
He began his career with Manufacturers Hanover Trust Company in corporate lending.
In a 12-year career at Chemical and Manufacturers Hanover Trust Company, which merged with Chemical in 1991, Pearson held a number of positions in the real estate appraisal and real estate investment banking divisions.
He has held institutional sales and trading roles at Lehman Brothers, Montgomery Securities and Manufacturers Hanover Trust Company.

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