Day after John Davison Rockefeller turned 97 last week another Rockefeller also made news. He was Avery Rockefeller, 33, son of the late Percy Avery Rockefeller and grandson of John D. Sr.'s younger brother William. Along with two other executives, Avery Rockefeller resigned from Manhattan's J. Henry Schroder Banking Corp. to set up a new investment house called Schroder Rockefeller & Co. which will handle the underwriting and general securities business given up by the U. S. branch of the famed old London firm under the Banking Act of 1933.
J. Henry Schroder & Co. is one of the "Big Three" of British private banking, sharing the title with Baring Bros, and N. M. Rothschild & Sons. Founded in 1804, Schroder always has Schroders as partners, now boasts the third and fourth generations of the family in Baron Bruno Schroder and his son Helmut William Bruno Schroder. Formed shortly after the War to handle U. S. interests, J. Henry Schroder Banking Corp. will continue to operate as a commercial bank.
The new company will be largely owned by the old London firm and young Banker Rockefeller, who went into Schroder's Manhattan affiliate not long after he left Yale. Blond, wiry, aggressive. Banker Rockefeller will hold down a vice presidency in his new firm. Another vice president will be his old colleague, Gerald E. ("Jerry"') Donovan. The presidency will go to Carlton P. Fuller, oldtime Schroder official.