Word: bank
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Dates: during 1960-1969
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Wachovia is directed by President John F. Watlington Jr., 53, the bank's chief operating officer and "inside" man, and Archie K. Davis, 54, its gregarious chairman, who handles the vital outside contacts. Both worked their way up from clerks, and both have a single goal: to finance as much Southern growth as possible with Southern money. Wachovia has the fastest-growing mortgage department and the largest auto-loan operations in the South. It keeps 20 officials on the road to promote business opportunities in North Carolina, has a top official in each branch whose job is to lure...
...More Shuttle. Wachovia's success in bankrolling Southern industry has stepped up competition from New York and Boston bankers, but the bank's assets are now so considerable that Wachovia can meet practically any financing need. R. J. Reynolds officials used to shuttle to New York once a week on financing missions, but such trips are seldom necessary nowadays; they go to Wachovia. The bank's officials know their region well, and their formula for success is to stick to it. One bank officer recently had a crack at a multimillion-dollar piece of business...
...Governor of the Bank of England is both the country's fiscal conscience and one of the most important subjects in the realm. So powerful can the post be that one governor, Montagu Norman, almost singlehanded brought down the Labor government in 1931 by publicly criticizing its extravagant policies. Since then, little love has been lost between Labor's leaders and the Old Lady of Threadneedle Street. Last week the bank's current governor, George Rowland Stanley Baring, the third Earl of Cromer, stirred Britain and shocked Labor with the sternest public lecture on economy yet issued...
...bankers are better connected or more respected than this distinctly unstuffy and independent lord, who, at 46, is known in London's clubby society circles as "Rowlie." He is the heir to the Baring banking fortune, a godson of the late King George V, and son-in-law of Lord Rothermere the press lord. He has all the marks of aristocracy: Eton, Cambridge (he dropped out after a year), wartime service in the Grenadier Guards, and a postwar stint with J. P. Morgan & Co. in Manhattan before he became managing director of the family bank in 1947. Sent...
When the economy began moving too fast some 14 months ago, the Bank of Japan, which exerts a stronger control over money and banking than that held by the U.S. Federal Reserve System, adopted a tight money policy. Tighter money slowed down internal consumption, discouraged industry from expanding and made businessmen push exports to counter the cutback at home. The result is that Japan has rebounded from a trade deficit in 1963 to what is expected to be a substantial surplus in the first quarter of this year. Because business confidence has suffered in the process, the Bank of Japan...