"Wall Street" flyttar från Wall Street
The final departure of the mighty JPMorgan is a milestone given its history in the old neighborhood.
It was down the block at 23 Wall St., facing the New York Stock Exchange, where J. Pierpont Morgan and his son transformed the firm into one of the world’s most powerful banks.
The street became synonymous with American finance because of the stock exchange at the corner of Broad Street and Wall Street, as well as the banks that kept headquarters there, such as J.P. Morgan & Company, the Bank of New York and the National City Bank, the forerunner to Citigroup.
Today, a “Wall Street bank” is defined as a financial institution with trading operations that span the globe and investment bankers counseling CEOs.
An actual location on the street doesn’t matter.
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