Baring Brothers and the Birth of Modern Finance PDF
280 Pages·2007·3.311 MB·English
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Utilizing British and American archives, Austin charts Baring Brothers development from wool merchants to one of the most powerful global financial institutions. Throughout the nineteenth century, the company grew in tandem with the British Empire. It invested heavily in developing markets in Asia, Africa and South America, both supporting the British administration and opening up new areas for colonial expansion. By the end of the century, it was said that Britain had established an empire in South America by capital alone. The Baring family amassed huge personal fortunes and Austin includes, for the first time, a study of personal and corporate art collections associated with the company. In 1995, the company collapsed over a weekend, brought down by the 'rogue trader' Nick Leeson. In the first history of Baring Brothers to be written since its collapse, Austin analyses the errors which led to its downfall and places them in the context of the company's illustrious history.
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