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1945 Hambros
Bank |
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Stock Code HAM01 |
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| Company |
Hambros Bank Ltd. History |
| Description |
Certificate no. 1923 for 125 'A' shares. Vignette of
crest, ornate maroon border and imprint of company seal. |
| Issued To |
James
Baxter of The Austerby, Bourne, Lincolnshire. |
| Issue Date |
2nd
October 1945 |
| Company
Officers |
| G L D'Abo |
Director |
Actual
Signature |
| - |
Secretary |
Actual
Signature |
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| Size |
28cm
wide x 24cm high |
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Note that
although this item has now been sold, we may be able to acquire
another one for you. Email us
if you are interested in this stock |
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History
Hambros Bank was a British bank
based in London. It was established there in 1839 by the Danish
merchant and banker Carl Joachim Hambro as C. J. Hambro & Son. The
bank was a specialist in Anglo-Scandinavian business with expertise
in trade finance and investment banking, and was the sole banker to
the Scandinavian kingdoms for many years. The Bank was sold in 1998,
and today survives only in the name of the private banking division
of the French group Société Générale, which is called SG Hambros
Bank Ltd.
After merging with the British Bank of Northern Commerce (owned by
Enskilda Banken and a number of Scandinavian savings banks) in 1921
the name was changed to Hambros Bank, and the firm expanded. As a
result, in 1926 a bigger head office was constructed at 41
Bishopsgate, where the bank remainded until 1988. The 1930
depression affected the bank's international business and it
concentrated on domestic lending and Scandinavia. During World War
II, Sir Charles Hambro raised finance for the exile Norwegian
government and was also the head of the SOE (the Special Operations
Executive), running a network of agents in Europe, including
Operation Gunnerside, the sabotage of the Rjukan heavy water factory
in Norway (featured in the film "The Heroes of Telemark"). He had
good connections to the Swedish Wallenberg family and its Stockholms
Enskilda Bank, eventually marrying the widow of Marcus Wallenberg.
After World War II, Hambros became also known as the 'diamond bank'
with its thriving activity in financing the diamond industry and its
trade. Hambros was one of the top three banks in the Euromarket by
the mid 1960s. In 1967 the private banking and trust operations were
expanded offshore and new offices were opened in Jersey and Guernsey
to take advantage of the offshore tax benefits. The 1970s marked
Hambros' expansion into new areas of financial services - in
particular, asset management, investment management for third
parties, investment funds and insurance. An offshore private banking
and trust operation was established in 1981 in Gibraltar to
complement the offices in London, Jersey and Guernsey.
In the mid 1970's the Bank was badly hit by the shipping crises and
repeatedly hindered by its relationship with the Norwegian magnate
Hilmar Reksten. Under the direction of Charles Perrin, who started
his career in the Bank as Assistant Company Secretary, the Bank
defended itself against litigation from his Trustees in Bankruptcy
and the Norwegian Government on and off for nearly 25 years,
including two substantial out of court settlements, both in the
Bank's disfavour. Altogether, the affairs of Hilmar Reksten was a
disaster for Hambros Bank, both financially and in terms of wasted
time and opportunities.
In the mid 1970's the Bank was badly hit by the shipping crises and
repeatedly hindered by its relationship with the Norwegian magnate
Hilmar Reksten. Under the direction of Charles Perrin, who started
his career in the Bank as Assistant Company Secretary, the Bank
defended itself against litigation from his Trustees in Bankruptcy
and the Norwegian Government on and off for nearly 25 years,
including two substantial out of court settlements, both in the
Bank's disfavour. Altogether, the affairs of Hilmar Reksten was a
disaster for Hambros Bank, both financially and in terms of wasted
time and opportunities.
By the end of the decade Hambros had 1,400 staff, 900 of whom were
based at 41 Tower Hill in London, where the head office is still
based today. In February 1998 the Hambros PLC board recommended a
sale of Hambors Bank Ltd to the French bank Société Générale, which
the majority of the shareholders accepted. Hambros PLC, including
the private equity and investment side, was later sold to Investec,
a South African bank. In November 1998, the Hambros core private
banking activities were renamed SG Hambros Bank & Trust Limited. As
well as the London, Jersey, Guernsey and Gibraltar operations, a
subsidiary of Coutts Bank in the Bahamas also became part of the SG
Hambros Group.
source: wikipedia.org |
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