Samuel Montagu & Co.

Samuel Montagu & Co. was a British merchant bank founded by Samuel Montagu in 1853.

Set up as a bullion brokerage firm, it aimed to make money from the Australian gold rush by brokering deals between sellers and buyers. From 1911 onwards, it became part of the group of companies which formed the London bullion market.[1]

After the death of founder Samuel Montagu, the bank passed into the ownership of the family trust, Montagu Trust. In 1967, the Midland Bank acquired a share in Montagu Trust, and so became the first British clearing bank to control a London merchant bank. Samuel Montagu & Co. became a wholly owned subsidiary in 1974,[2] and on completion of the acquisition Midland also gained a majority share in Guyerzeller Bank AG in Switzerland. Michael Samuel Rosenberg was Director of Corporate Finance for Samuel Montagu & Co. Ltd., from 1972 to 1974[3][2]

Samuel Montagu's chairman in 1977 was Philip Shelbourne, who owned a terrier named Montagu, which would travel with him in the back seat of his chauffeur-driven Mercedes. Shelbourne, a trained barrister, had been the first outside director of NM Rothschild, before joining the Drayton Corporation, a manager of investment trusts. Its founder, Harley Drayton, was a well-known City buccaneer. Drayton was later absorbed by Samuel Montagu, to form the merchant bank's investment management subsidiary, Drayton Montagu Portfolio Management. In 1977 its managing director was David, now Lord, Stevens.

Today, Samuel Montagu & Co. forms part of the private banking service of HSBC. The name was last used by HSBC in 2000. In 2003, HSBC spun off its private equity business, which took the name Montagu Private Equity.[4]

References
  1. "Samuel Montagu & Co". underprints.com. Retrieved 2012-01-02.
  2. HSBC Group in Europe Archived 2011-09-27 at the Wayback Machine
  3. http://investing.businessweek.com/research/stocks/people/person.asp?personId=2748730&ticker=PGB:LN
  4. Keers, By Helena (2003-03-19). "HSBC buyout team revives Montagu name". Retrieved 2014-10-08.


This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.