Morgan Grenfell reports its first annual loss
Citations (1)
- The House of Morgan - An American Banking Dynasty and the whole source · open book
In March 1989, John Craven announced a loss for 1988—perhaps the first in Morgan Grenfell’s 151-year history. The modern world wasn’t charitable to capital-short banks, and Morgan Grenfell was stuck in that perilous middle rut. It still had a collection of choice businesses, especially the booming merger and global-asset-management departments.
chapter: 36. Skyscraper