Thomas Harrington McKittrick (1889–1970) was an American banker and president of the
Bank for International Settlements
The Bank for International Settlements (BIS) is an international financial institution which is owned by member central banks. Its primary goal is to foster international monetary and financial cooperation while serving as a bank for central bank ...
during
World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...
whose close relationship with Hitler's Third Reich has stirred controversy.
Career
McKittrick was educated at
Harvard University
Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyma ...
and graduated in 1911. He joined the National City Bank in 1916, assigned to assist in opening a branch of the bank in Geneva,
Switzerland
Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland ...
. He served in the
American Expeditionary Force
The American Expeditionary Forces (AEF) was a formation of the United States Armed Forces on the Western Front (World War I), Western Front during World War I, composed mostly of units from the United States Army, U.S. Army. The AEF was establis ...
during
World War I
World War I or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a World war, global conflict between two coalitions: the Allies of World War I, Allies (or Entente) and the Central Powers. Fighting to ...
. In the interwar years he was a banker with
Lee, Higginson & Co
Lee, Higginson & Co. was a Boston-based investment bank established in 1848 that was the home of many members of the Boston Brahmin establishment. The bank collapsed in the Swedish match scandal in 1932 while under the leadership of Jerome Davi ...
.
McKittrick was president of the Bank for International Settlements (BIS) from 1940 to June 1943, under the chairmanship of
Otto Niemeyer
Sir Otto Ernst Niemeyer (23 November 1883 – 6 February 1971) was a British banker and civil servant. He served as a director of the Bank of England from 1938 to 1952 and a director of the Bank for International Settlements from 1931 to 1965.
...
and Ernst Weber. BIS, intended to facilitate effective monetary co-operation, declared its neutrality in
World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...
. After the war was declared in September 1939, it was no longer possible for representatives of
Germany
Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...
,
France
France, officially the French Republic, is a country located primarily in Western Europe. Overseas France, Its overseas regions and territories include French Guiana in South America, Saint Pierre and Miquelon in the Atlantic Ocean#North Atlan ...
or the
United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Northwestern Europe, off the coast of European mainland, the continental mainland. It comprises England, Scotlan ...
to attend BIS meetings. Due to the commencement of hostilities in France, only a few miles from BIS headquarters in
Basel
Basel ( ; ), also known as Basle ( ), ; ; ; . is a city in northwestern Switzerland on the river Rhine (at the transition from the High Rhine, High to the Upper Rhine). Basel is Switzerland's List of cities in Switzerland, third-most-populo ...
,
Switzerland
Switzerland, officially the Swiss Confederation, is a landlocked country located in west-central Europe. It is bordered by Italy to the south, France to the west, Germany to the north, and Austria and Liechtenstein to the east. Switzerland ...
, McKittrick was the only member of its assembly to attend the May 1940 annual meeting.
McKittrick was a family friend of
Allen Dulles
Allen Welsh Dulles ( ; April 7, 1893 – January 29, 1969) was an American lawyer who was the first civilian director of central intelligence (DCI), and its longest serving director. As head of the Central Intelligence Agency (CIA) during the ea ...
, a
US intelligence
The United States Intelligence Community (IC) is a group of separate U.S. federal government intelligence agencies and subordinate organizations that work to conduct intelligence activities which support the foreign policy and national secur ...
officer also based in Switzerland during World War II.See telegram Marjorie McKittrick to Thomas McKittrick, September 25, 1945. Series 1, Carton 5, Folder 2, Reel 6, Thomas H. McKittrick Papers. Dulles later became a Director of the
Central Intelligence Agency
The Central Intelligence Agency (CIA; ) is a civilian foreign intelligence service of the federal government of the United States tasked with advancing national security through collecting and analyzing intelligence from around the world and ...
.
In 1941
Fortune
Fortune may refer to:
General
* Fortuna or Fortune, the Roman goddess of luck
* Luck
* Wealth
* Fate
* Fortune, a prediction made in fortune-telling
* Fortune, in a fortune cookie
Arts and entertainment Film and television
* ''The Fortune'' (19 ...
magazine claimed that
Germany
Germany, officially the Federal Republic of Germany, is a country in Central Europe. It lies between the Baltic Sea and the North Sea to the north and the Alps to the south. Its sixteen States of Germany, constituent states have a total popu ...
had gained control of BIS by purchasing shares from other shareholders. McKittrick denied allegations that the bank was being used to escape the foreign funds controls put in place by the US Government against the
Axis powers
The Axis powers, originally called the Rome–Berlin Axis and also Rome–Berlin–Tokyo Axis, was the military coalition which initiated World War II and fought against the Allies of World War II, Allies. Its principal members were Nazi Ge ...
. During
World War II
World War II or the Second World War (1 September 1939 – 2 September 1945) was a World war, global conflict between two coalitions: the Allies of World War II, Allies and the Axis powers. World War II by country, Nearly all of the wo ...
BIS received
gold
Gold is a chemical element; it has chemical symbol Au (from Latin ) and atomic number 79. In its pure form, it is a brightness, bright, slightly orange-yellow, dense, soft, malleable, and ductile metal. Chemically, gold is a transition metal ...
as interest payments from the German Reichstag which later investigations showed had been looted from the central banks of
Belgium
Belgium, officially the Kingdom of Belgium, is a country in Northwestern Europe. Situated in a coastal lowland region known as the Low Countries, it is bordered by the Netherlands to the north, Germany to the east, Luxembourg to the southeas ...
and the
Netherlands
, Terminology of the Low Countries, informally Holland, is a country in Northwestern Europe, with Caribbean Netherlands, overseas territories in the Caribbean. It is the largest of the four constituent countries of the Kingdom of the Nether ...
. McKittrick was re-elected to the post of president of the BIS in 1942.
From 1946 to 1954 McKittrick worked for the
Chase National Bank
JPMorgan Chase Bank, N.A., Trade name, doing business as Chase, is an American National bank (United States), national bank headquartered in New York City that constitutes the retail banking, consumer and commercial bank, commercial banking su ...
, becoming a senior vice president and director. He headed a survey mission for the
International Bank for Reconstruction and Development
The International Bank for Reconstruction and Development (IBRD) is an international financial institution, established in 1944 and headquartered in Washington, D.C., United States; it is the lending arm of World Bank Group. The IBRD offers lo ...
to
India
India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since ...
in the 1950s. He died on January 21, 1970, in
Newton, New Jersey
Newton, officially the ''Town of Newton'', is an Local government in the United States, incorporated municipality in and the county seat of Sussex County, New Jersey, Sussex County