Manufacturers Hanover Corporation

American corporation

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Article History

Manufacturers Hanover Corporation, former American multibank holding company whose principal subsidiary was Manufacturers Hanover Trust Company. Headquarters for both were in New York City.

The Manufacturers Hanover Trust Company bank had its origins in various banks that arose in New York City in the 19th century. Chief among these were the Chatham Bank and the Phenix Bank, which merged in 1911, and the Manufacturers Trust Company, which merged with Chatham and Phenix in 1931. The bank’s final name was adopted in 1961 after Manufacturers Trust merged with the Hanover Bank (founded 1851). Manufacturers Hanover Corporation was formed in 1969 to be a holding company for the merged banks. The corporation added First Pennsylvania Corporation in 1980. In 1991 Manufacturers Hanover Corporation merged with Chemical Banking Corporation and assumed the latter’s name.

The Manufacturers Trust Hanover Company, through its subsidiaries, had a network of American offices and foreign representative offices, subsidiary banks, affiliated financial institutions, and correspondent banks throughout the world. It was one of the largest money centres in the United States.

The Editors of Encyclopaedia Britannica This article was most recently revised and updated by Jeannette L. Nolen.