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Thursday, June 12, 2008

1915: Rockefeller Clan Grows

On this day in 1915, the Rockefellers, one of America's first families of industry and wealth, grew a touch larger with the birth of David Rockefeller. The youngest of five children sired by the imperious oil baron John D. Rockefeller, David ably continued the family tradition of acquiring vast sums of money. Before the dawn of 1941, David had racked up degrees from Harvard, the London of School Economics and the University of Chicago. Following a stint in World War II, Rockefeller started working at the Chase National Bank, which was chaired by his uncle, Winthrop W. Aldrich. David enjoyed a fast rise through the ranks at Chase and was named the bank's vice president in 1952. A few years after his promotion, Rockefeller helped engineer the merger between Chase and the Bank of Manhattan Company. But, befit his name and background, Rockefeller didn't stall as the second in command of the newly formed banking conglomerate: By 1969, he was tabbed to serve as both the chairman of the board and CEO of the Chase Manhattan Bank. A well-traveled expert in international finance, Rockefeller's reign at Chase lasted until the dawn of the 1980s.

source: www.history.com

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