New York - Banco di Napoli - Inspectorate office, later Agency

city New York
RESOLUTION OF BOARD OF DIRECTORS 16.12.1908
AUTHORIZATION BY THE BANK OF ITALY 04.01.1909 (Ministerial Decree)
OPENING 03.06.1909
CLOSING 1928
description

In 1906 Banco di Napoli (BN) opened an inspectorate office in New York tasked with expanding the bank's network of correspondent banks and facilitating the management of emigrant remittances. Because the office was restricted in terms of the types of operations it could carry out, in 1909 it was transformed into an agency, which soon became a focal point for the many correspondent banks throughout the United States. BN hoped that agency became a landmark for the Italian government. The agency's operations would grow ever more important during World War I, not only due to numerous repatriations, but also in terms of purchases. By 1918 it had become an vital point of contact for New York's Italian community. Thanks to its success, especially in terms of its investments in US government debt securities, it opened a second New York City agency in that same year. In 1932 this agency would be transformed into a branch of Banco di Napoli Trust Company.
BIBLIOGRAPHY

ABN, VCA; February 20, 1907, p. 361; July 17, 1907, p. 1808; August 9, 1907, p. 2021 ff.
ABN, Financial Statements
other banks in the same country Los Angeles - First Los Angeles Bank Los Angeles - Istituto Bancario San Paolo, later Sanpaolo IMI and subsequently Intesa Sanpaolo - Representative Office Chicago - Banca Commerciale Italiana - Branch Chicago - CARIPLO - Representative Office New York - Banca Commerciale Italiana - Branch New York - Banco di Napoli - Representative Office New York - Banca Commerciale Italiana - Representative Office New York - Cassa di Risparmio di Firenze - Representative Office New York - CARIPLO - Branch San Francisco - CARIPLO - Representative Office Boston - Banca Commerciale Italiana Trust Company Chicago - Banco di Napoli Trust Company of Chicago Chicago - Banca Commerciale Italiana - Representative Office Los Angeles - Banca Commerciale Italiana - Representative Office Los Angeles - Banca Commerciale Italiana - Branch Los Angeles - Istituto Bancario San Paolo - Branch Los Angeles - Banco di Napoli - Branch New York - Banca Commerciale Italiana Trust Company New York - Banco di Napoli Trust Company of New York New York - Banco di Napoli - Branch New York - Banca Commerciale Italiana, later Banca Intesa - Branch New York - Banco Ambrosiano, Banco Ambrosiano Veneto - Representative Office New York - CARIPLO - Representative Office New York - Istituto Bancario San Paolo - Branch New York - Long Island Trust Company (Litco), later North American Bancorporation (Nabac) Philadelphia - Banca Commerciale Italiana Trust Company Washington - Istituto Mobiliare Italiano - Representative Office Washington - Banca Commerciale Italiana - Representative Office Chicago - Banco di Napoli - Agency
see in the map
Banco di Napoli (BN) USA