Did Bankers Trust go out of business?
Business
Bankers Trust was a large American investment bank that was founded in 1903 in New York City. The bank’s founder, J.P. Morgan’s former assistant Charles Henry Sabin, aimed to create a financial institution that would provide innovative banking services to corporate clients.
In its early years, Bankers Trust focused on providing traditional banking services such as commercial lending, but it soon began to expand into new areas such as foreign exchange trading and securities underwriting. By the 1920s, the bank had become one of the largest and most influential banks on Wall Street.
In the 1930s, Bankers Trust began to develop new financial products and services, such as the first credit card and the first mutual fund. The bank also became heavily involved in international finance, providing advisory services to foreign governments and multinational corporations.
During the 1980s and 1990s, Bankers Trust continued to grow and diversify!
Acquiring other financial institutions and expanding its services to include asset management, investment banking, and derivatives trading. However, the bank also faced a number of controversies during this period, including accusations of insider trading and conflicts of interest.
In 1998, Bankers Trust became acquired by Deutsche Bank in a $10 billion deal. And the Bankers Trust name became eventually phased out. Today, many of the services and products originally developed by Bankers Trust still find themselves offered by Deutsche Bank. And other financial institutions around the world!
Business
Did Bankers Trust go out of business?
