|
Barings Bank, previously known as Baring Brothers & Co., was the oldest merchant banking company in England, having been founded in 1762 by Sir Francis Baring. Barings logo - Uploaded by Pete Cassidy, June 2005 This is a copyrighted and/or trademarked logo. ...
A bank is an institution that provides financial service, particularly taking deposits and extending credit. ...
1762 was a common year starting on Friday (see link for calendar). ...
Sir Francis Baring (18 April 1740 – 11 September 1810) was an English merchant, banker and politician who founded Barings Bank – once Britains oldest bank. ...
History
Barings had a long and storied history. In 1802, it helped finance the Louisiana Purchase, despite the fact that Britain was at war with France, and the sale had the effect of financing Napoleon's war effort. Later daring efforts in underwriting got the firm into serious trouble following the Brazilian revolution, and the bank had to be rescued by a consortium organized by the governor of the Bank of England, William Lidderdale, in 1890. While recovery from this incident was swift, it destroyed the company's former bravado. Its new, restrained manner made it a more appropriate representative of the British establishment, and the company established ties with King George V, beginning a close relationship with the British monarchy that would endure until Barings' collapse. The Baring family were appointed to the peerage with the title Baron Revelstoke. The company's restraint during this period would cost it its preeminence in the world of finance, but would later pay dividends when its refusal to take a chance on financing Germany's recovery from World War I saved it the painful losses experienced by other British Banks at the onset of the Great Depression. --69. ...
From Frank Bond, Louisiana and the Louisiana Purchase. ...
For other uses, see Napoleon (disambiguation). ...
// Securities underwriting Securities underwriting is a way of placing a newly issued security, such as stocks or bonds, with investors. ...
The history of Brazil begins with the arrival of the first Native Americans, over 8,000 years ago, into the present territory of that nation. ...
The Bank of England is the central bank of the United Kingdom, sometimes known as The Old Lady of Threadneedle Street or The Old Lady. The Bank of England // Functions of the Bank It performs all the recognized functions of a central bank -- to maintain price stability, and subject to...
1890 was a common year starting on Wednesday (see link for calendar). ...
George V (George Frederick Ernest Albert Windsor, formerly Wettin until 1917) (3 June 1865–20 January 1936) was the last British monarch of the House of Saxe-Coburg-Gotha, changing the name to the House of Windsor in 1917. ...
This article describes the British monarchy from the perspective of the United Kingdom. ...
The Peerage is a system of titles of nobility which exists in the United Kingdom and is one part of the British honours system. ...
Baron Revelstoke is a peerage title in the Peerage of the United Kingdom. ...
World War I was primarily a European conflict with many facets: immense human sacrifice, stalemate trench warfare, and the use of new, devastating weapons - tanks, aircraft, machine guns, and poison gas. ...
The Great Depression was a massive global economic recession (or depression) that ran from 1929 to approximately 1939. ...
Collapse Barings collapsed on February 26, 1995, due to the activities of one trader, Nick Leeson, who lost $1.4 billion by speculating on the Singapore International Monetary Exchange, primarily using futures contracts. Barings was purchased by the Dutch bank/insurance company ING after its collapse for the nominal sum of £1 and assuming all of Barings liabilities and no longer has a separate corporate existence. Its name lived on for a while, as Baring Asset Management. But BAM was split and sold by ING to Mass Mutual and Northern Trust in March 2005. February 26 is the 57th day of the year in the Gregorian Calendar. ...
1995 (MCMXCV) was a common year starting on Sunday of the Gregorian calendar. ...
Nick Leeson (born February 25, 1967) is an English former derivatives trader and criminal whose actions caused the collapse of Barings Bank, the United Kingdoms oldest investment bank. ...
SIMEX is the Singapore Monetary Exchange, a stock trading institution in Singapore. ...
In finance, a futures contract is a standardized contract, traded on a futures exchange, to buy or sell a certain underlying instrument at a certain date in the future, at a set price specified on the last trading date. ...
Insurance, in law and economics, is a form of risk management primarily used to hedge against the risk of potential financial loss. ...
ING Group N.V. (NYSE: ING, Euronext: INGA ) is a financial institution of Dutch origin offering banking, insurance and asset management services. ...
In the most general sense, a liability is anything that is a hinderance, or puts one at a disadvantage. ...
The term Asset Management has many industry specific definitions. ...
Nick Leeson's autobiography of the events leading up to the collapse was dramatised in the movie Rogue Trader. Rogue Trader: How I Brought Down Barings Bank and Shook the Financial World is a book by Nick Leeson, who served four years in prison for fraud after bankrupting the London-based Barings Bank in 1995 by hiding $1. ...
See also Leonard Ingrams (1 September 1941 – 27 July 2005), merchant banker and opera festival founder/impresario. ...
Managing director is the traditional term for the top executive of a business in the United Kingdom and some other English speaking countries, but not in the United States. ...
Garsington Opera is an open air opera festival held each summer in the gardens of Garsington Manor, in the village of Garsington, near Oxford, England. ...
External links |
Feeds |
Contact