 Pursuant to a merger agreement dated March 1, 1920 (and approved by the Superintendent of Banks on the same day), the Merchants' National Bank of New York merged with the Bank of the Manhattan Company, effective March 27, 1920.Merchants' then president, Raymond E. Jones, became vice president and second in command of the combined institutions.In 1923, it moved its headquarters briefly to the Prudence Building and then in 1929 built what was briefly the tallest building in the world at 40 Wall Street on the site of the Gallatin Bank Building.