One of investment banking's most renowned names is being retired, as Deutsche Morgan Grenfell announced Monday that it is to be known from now on as Deutsche Bank Securities.
Deutsche Bank said the Morgan Grenfell name "is being eliminated worldwide as part of the Bank's previously announced restructuring plan."
A spokesman said Deutsche Bank officials want to develop a single brand name in U.S. banking and securities businesses and felt that the Morgan Grenfell banner interfered with that goal.
Morgan Grenfell Group was acquired by Deutsche Bank in 1990, but its roots go back to 1910, when J.P. Morgan took a stake in the firm and made it the London branch of his vast banking empire. J.P. Morgan & Co. sold off the last of its holdings in 1982.