Pierpont's New Banking Philosophy

Anthony Drexel was a Pennsylvania banker eager to move his base of operations from Philadelphia to New York. Pierpont now recognized that success in investment banking did not come down to an aggressive pursuit of the best deal Calm head and a steady hand were required to make investors feel comfortable, especially in an environment where markets were often unstable and unpredictable. With Anthony's support, Pierpont helped make Drexel Morgan and Company one of Wall Street's premier investment banking outfits.