Banking
Head left teaching for the banking field in 1904, starting as a bank cashier at age 26. In 1917, he was named vice president of Omaha National Bank in Omaha, Nebraska, becoming the bank's president in 1920. During his time as bank president in Omaha, Walter Head also became president of the American Bankers Association and a director of New York Life Insurance Company.
In 1929, Head took over as president of State Bank of Chicago. Upon his arrival, Head guided State Bank through a merger with Foreman National. When Foreman National was acquired by First National Bank in 1931, Walter Head resigned to become president of Morris Plan Corp., a New York-based banking organization making small loans to moderate income families through banks in more than 100 U.S. cities. At the time, Morris Plan was the largest industrial banking system in the U.S., with $200 million in annual business and 800,000 customers.
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Famous quotes containing the word banking:
“One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.”
—William Howard Taft (1857–1930)