American banker who built the London-based J.S. Morgan & Co — a major merchant bank for Anglo-American trade — and who trained his son J.P. Morgan in the standards and discipline of the banking profession.
Established the Morgan banking tradition of character-based lending and conservative balance sheet management — and placed his son J.P. Morgan in subordinate positions before giving him authority, making the younger Morgan's professional standards a function of his father's disciplined training.
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