![]() ![]() Three years later, in 1871, at the urging of Junius Spencer Morgan in London, Drexel became the mentor of Junius's troubled son, John Pierpont Morgan of New York, and entered into a new partnership with young Morgan, forming Drexel, Morgan & Co. ![]() In 1867 he founded a separate Paris-based banking partnership, Drexel, Harjes & Co., with John H. In 1847 he was named a member of the firm Drexel & Company, the original predecessor of what would become Drexel Burnham Lambert.Īfter the death of his father in 1863, Drexel closed the bank's Chicago and San Francisco offices and changed the name of its New York branch from Read, Drexel & Co. At the age of 13 he began to work in the banking house founded three years earlier by his father, the Austrian-born American banker Francis Martin Drexel.
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