In 1929 he became president of Equitable Trust, which had grown through the...
Citations (1)
- All the Presidents' Bankers: The Hidden Alliances That Drive American Power whole source · open book
In 1929 he became president of Equitable Trust, which had grown through the 1920s via a series of strategic mergers to become one of the largest firms in America. Winthrop persuaded Wiggin to merge Chase with Equitable at the suggestion of Rockefeller, Equitable’s main shareholder. As president of the conglomerate, Aldrich eventually ousted Wiggin as chairman and took over the helm.
chapter: Chapter 6: The Early 1930s: Tenuous Times, Tax-Evading Titans