Word: banke
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Dates: during 1960-1969
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...works, will almost inevitably strengthen political ties. When it goes into effect next December, it will create a common market in which the vast bulk of goods produced in any of the three countries will not be subject to tariffs at the borders of the other two. A development bank with $36 million in capital will also be established to encourage industrialization, especially in Uganda and Tanzania, which trail far behind Kenya's impressive growth. New agencies will also be set up to coordinate scientific, monetary and cultural activities among the three countries...
Command changes at major banks are usually about as suspenseful as tomorrow's office hours. But not at Manhattan's aggressive First National City Bank. President George S. Moore, 62, was a cinch to succeed Chairman James Stillman Rockefeller, due to retire next month at 65. But who would follow Moore? There was no lack of topflight candidates, as is only fitting for the bank that, with assets of $15 billion, ranks only behind the Bank of America ($18 billion) and Chase Manhattan ($15.8 billion). Moore himself had been no help in the guessing game, having once said...
Last week it came. First, the bank's 25-man board, as expected, named Moore chairman. Then Thomas R. Wilcox, 50, the peppery executive vice president in charge of the bank's domestic branches and a leading candidate for Moore's job, was made a vice chairman. But the plum went to Walter B. Wriston, 47, executive V.P. for overseas operations. Since Moore himself was only three years from retirement, said the bank, new President Wriston would lose no time getting into "the maximum possible responsibilities...
Chile to Chad. Those have expanded mightily in the bank's eight years under Chairman Rockefeller (distant cousin of Chase Manhattan President David) and President Moore. Aggressively pursuing "retail" banking business, First National City's domestic branches have spurted from 84, all in New York City, to 166, spilling into the populous suburbs. Earnestly following the expansion of U.S. business abroad, the bank's overseas branches have more than doubled to 206 in spots from Chile to Chad. And having pioneered the personal loan in 1928, the bank now offers nearly every kind of financial service from...
Educated at Wesleyan and the Fletcher School of Law and Diplomacy, Wriston has had a hand in much of First National City's expansion. The son of Henry Merritt Wriston, longtime (1937-55) president of Brown University, he joined the bank in 1946 after a stint in the foreign service and wartime Army duty, has headed the bank's sprawling overseas division since 1959. Amiably informal and scornful of organization charts-"We all work together," he says, "and when I'm in trouble I ask somebody, and when I'm not I don't"-Wriston...