COMPANY·HISTORIES
NAIC 523991

Trust, Fiduciary and Custodial Activities

How the companies in this industry began, and the forces that shaped them.

17companies1812–2000founding years17still active0no longer operating
§ 01

The industry over time

Companies foundedEconomyTechnologyEnvironmentHistory
FoundedCitigroup Inc.
1812
FoundedThe Bank of Nova Scotia
1832
FoundedCredit Suisse Group
1856
FoundedLloyds TSB Group plc
1865
FoundedHVB Group
1869
FoundedBank Leumi le-Israel B.M.
1902
1903
TechnologyThe Wright brothers achieve powered flight.
FoundedUBS AG
1912
1914
EconomyWorld War I begins; global trade reorders.
FoundedAmalgamated Bank
1923
FoundedThe Sumitomo Trust & Banking Company, Ltd.
1925
1929
EconomyThe stock market crashes; the Great Depression spreads worldwide.
1939
EconomyWorld War II begins; wartime production surges.
1945
EconomyThe war ends; a long global expansion begins.
FoundedFMR Corp.
1946
1947
TechnologyThe transistor is invented.
FoundedT. Rowe Price Associates, Inc.
1950
1958
TechnologyThe integrated circuit is demonstrated.
FoundedCanadian Imperial Bank of Commerce
1961
1962
EnvironmentSilent Spring launches the modern environmental movement.
FoundedJ.P. Morgan Chase & Co.FoundedWells Fargo & Company
1968
1971
EconomyThe dollar leaves the gold standard; currencies float.
FoundedSynovus Financial Corp.
1972
1973
EconomyThe OPEC oil embargo triggers a global shock.
1975
TechnologyThe personal-computer era begins.
1979
EconomyA second oil crisis drives inflation higher worldwide.
1981
TechnologyThe IBM PC launches and sets a standard.
FoundedThe PNC Financial Services Group Inc.
1983
1984
TechnologyApple ships the Macintosh; the GUI era begins.
1987
EconomyBlack Monday: markets fall sharply around the world.
1989
HistoryThe Berlin Wall falls; global markets open up.
1991
TechnologyThe World Wide Web is released to the public.
1993
TechnologyThe Mosaic browser brings the web to everyone.
1995
TechnologyWindows 95 launches; the internet goes mainstream.
1997
EconomyThe Asian financial crisis rattles global markets.
EnvironmentThe Kyoto Protocol sets the first climate targets.
FoundedGrupo Financiero Galicia S.A.
2000
EconomyThe dot-com bubble bursts.
2004
TechnologySocial media and Web 2.0 take hold.
2007
TechnologyThe iPhone launches the smartphone era.
2008
EconomyThe global financial crisis freezes credit worldwide.
2010
TechnologyCloud computing goes mainstream for business.
2015
EnvironmentThe Paris Agreement sets global climate targets.
2020
EconomyThe COVID-19 pandemic upends the global economy.
2022
EconomyInflation spikes; central banks raise rates sharply.
2023
TechnologyGenerative AI reaches mainstream business use.
§ 02

The companies

Citigroup Inc. →
Active · founded 1812
The largest financial services company in the world, with assets in excess of $1 trillion, Citigroup Inc.
The Bank of Nova Scotia →
Active · founded 1832 · Canada
The Bank of Nova Scotia, the second oldest bank in Canada, was the second largest Canadian bank in 2003 in term of…
Credit Suisse Group →
Active · founded 1856 · Switzerland
Credit Suisse Group, which began as a commercial bank in 1856, at a time when Switzerland was first embracing the…
Lloyds TSB Group plc →
Active · founded 1865 · United Kingdom
Lloyds TSB Group plc is one of the Big Four British clearing banks in the United Kingdom.
HVB Group →
Active · founded 1869 · Germany
Early 1920s:BV allies itself with Bayerische Handelsbank AG.
Bank Leumi le-Israel B.M. →
Active · founded 1902 · Israel
Bank Leumi le-Israel B.M., Israel's second-largest bank, has its origins in the modern Zionist movement of the late…
UBS AG →
Active · founded 1912 · Switzerland
UBS AG was formed from the 1998 megamerger of Swiss Bank Corporation and Union Bank of Switzerland.
Amalgamated Bank →
Active · founded 1923
Also in 1998, Amalgamated acquired an 81 percent stake in the First Trade Union Trust Company.
The Sumitomo Trust & Banking Company, Ltd. →
Active · founded 1925 · Japan
The Sumitomo Trust & Banking Company, Ltd., a member of the Sumitomo keiretsu or group of companies, operates as an…
FMR Corp. →
Active · founded 1946
Boston-based FMR Corp.
T. Rowe Price Associates, Inc. →
Active · founded 1950
T.
Canadian Imperial Bank of Commerce →
Active · founded 1961 · Canada
The Canadian Imperial Bank of Commerce (CIBC) is Canada's third largest bank, trailing only Royal Bank of Canada and…
J.P. Morgan Chase & Co. →
Active · founded 1968
J.P.
Wells Fargo & Company →
Active · founded 1968
Wells Fargo & Company is a diversified financial services company, ranking as the seventh largest bank holding company…
Synovus Financial Corp. →
Active · founded 1972
Synovus Financial Corp.
The PNC Financial Services Group Inc. →
Active · founded 1983
The PNC Financial Services Group Inc.
Grupo Financiero Galicia S.A. →
Active · founded 2000 · Argentina
Grupo Financiero Galicia S.A.
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