House of Morgan
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William David Hill is a well-established Maryland entrepreneur who has guided the creation of a premier care and retirement community in Easton. Also engaged in the hospitality industry, he has overseen the development of hotels spanning South Carolina, Maine, and Maryland. William David Hill enjoys reading in his free time and is particularly drawn to historical biographies, such as Ron Chernow’s The House of Morgan: An American Banking Dynasty and the Rise of Modern Finance.
Published in 1990, the voluminous book tells a story that begins with the establishment of what would become a dominant force in banking by Junius Spencer Morgan in England in the 1830s. In its early decades, the firm was integral in bridging the gap between upper-class European lenders and the investment needs of a young and rapidly industrializing United States.
The founder’s son, J.P. Morgan, ushered in the 20th century by creating groups of bondholders whom he exerted control over and undertook profit-driven takeovers. This new activist form of corporate growth consolidated the firm’s hold on the world’s financial centers. Chernow’s work also explores the social dynamic of a prominent New York-centered family that amassed art collections and philanthropic capital, while holding the ear of national leaders of all stripes.
William David Hill (Maryland) 