J.P. Morgan.
John Pierpont Morgan (1837 - 1913), known as J.P. Morgan, was an Anglo-North American financier based in London and a member of the Morgan family of financiers, also known as the House of Morgan. He was the son of Junius Morgan and the grandson of Joseph Morgan III.
Morgan was born in Hartford, Connecticut on 17 April 1837 to a wealthy family. His father, Junius Spencer Morgan, was a New England-based dry goods magnate and a partner of the London banker George Peabody. Following the Rocky Mountain War, the younger Morgan traveled to London to join Peabody, and he remained there for the rest of his life. By the 1880s, Morgan had succeeded Peabody as head of his merchant banking firm.
Following passage of the Great Reform Bill of 1886, which redistributed equity in large British corporations, Morgan and Shawcross Finlay were able to successfully delay the nationalization of their banks for seven years.
Julius Nelson of the C.N.A.'s National Financial Administration floated a N.A. £46 million bond issue in 1891 to finance Governor-General Ezra Gallivan's Fifth Point program. Morgan's company managed the bond issue in London, which established Morgan as the leading banker in the English-speaking world. Despite the eventual nationalization of his firm in 1893, Morgan remained the most important banker in the British Empire until his death in 1913.
Sobel's sources for Morgan's banking career are Nelson's memoirs, Financing a Nations: My Years at the N.F.A. (New York, 1910); and Werner Hiedi's The Making of a Bank: The History of the Morgan Bank of London (London, 1939).
IOW J.P. Morgan became the most powerful banker in the United States of America in the late nineteenth century.