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Two immigrant families, Rothschild and Baring, established merchant banking firms in London in the late 18th century and came to dominate world banking in the next century. Many merchant banks were also established outside London, especially in growing industrial and port cities such as Manchester, Birmingham, Newcastle and Liverpool. By 1784 ...
A merchant bank is historically a bank dealing in commercial loans and investment. In modern British usage, it is the same as an investment bank. Merchant banks were the first modern banks and evolved from medieval merchants who traded in commodities, particularly cloth merchants. Historically, merchant banks' purpose was to facilitate or ...
At the same time, new types of financial activities broadened the scope of banking. The merchant-banking families dealt in everything from underwriting bonds to originating foreign loans. These new "merchant banks" facilitated trade growth, profiting from England's emerging dominance in seaborne shipping.
The word bank was taken into Middle English from Middle French banque, from Old Italian banco, meaning "table", from Old High German banc, bank "bench, counter". Benches were used as makeshift desks or exchange counters during the Renaissance by Florentine bankers, who used to make their transactions atop desks covered by green tablecloths.
Wholesale banking is the provision of services by banks to larger customers or organizations such as mortgage brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, institutional customers (such as pension funds and government entities/agencies), and services offered to other banks or other financial institutions.
Barings Bank was a British merchant bank based in London, and one of England's oldest merchant banks after Berenberg Bank, Barings' close collaborator and German representative. It was founded in 1762 by Francis Baring , a British-born member of the German–British Baring family of merchants and bankers.
Under the terms of the Banking Act 2009 the bank is the UK's Resolution Authority for any bank or building society judged 'too big to fail'; as such it is empowered to act in the event of a bank failure 'to protect the UK's vital financial services and financial stability'. [29]
Frederick Huth was born on the 29 October 1777 in the German town of Stade, then part of the Electorate of Hanover.He was the second son of Johann Friedrich Huth (d. 1801), a soldier of the Scharnhorst regiment, and his wife, Marie Amelia (d. 1812), daughter of Johann Thee, farmer.