Background
Morgan was born on April 14, 1813 in Holyoke, Massachusetts. The Morgan name is traced to Carmarthen, Wales, and the first known Morgan family ancestral is Hyfaidd ap Bleddri, third son of Bledri of Wales.
Financier private sector banker
Morgan was born on April 14, 1813 in Holyoke, Massachusetts. The Morgan name is traced to Carmarthen, Wales, and the first known Morgan family ancestral is Hyfaidd ap Bleddri, third son of Bledri of Wales.
He founded J.S. & Company Miles, ancestor to the family in America, emigrated from Bristol, England to Boston in 1636. began his business career in 1829 by entering the employ of Alfred Welles of Boston. He had inherited wealth from his father, Joseph, and showed great business ability.
He was in the dry goods business from about 1836 to 1853.
After some years, he met George Peabody, the well-known London banker. Ten years later, in 1864, succeeded Peabody as head of the firm and changed its name to J. South. & Company
During the American Civil War the firm was a seller of United States war bonds in England. In 1836, married Juliet Pierpont (1816–1884).
He contributed money to his church and to Trinity College, Hartford.
He died on April 8, 1890, from injuries sustained in a carriage accident. At his death, he left a fortune estimated at about $10,000,000 (equivalent to $263,370,370 today).