The Bank of New York was one of the earliest of the major banks founded on Broad Street in New York City. The bank was founded in the early nineteenth century by the New England-based businessman and financier Joseph Morgan III. By 1819 the Bank of New York had opened a branch in London and within twenty years had become one of the most important banks in the British Empire, often working in conjuction with the Rothschilds.
The Bank of New York continued to be one of the most important banking firms in the British Empire under Joseph Morgan's son Junius Morgan and grandson J.P. Morgan.