The Origins of Asset Management from 1700 to 1960 Towering Investors
This book explores the origins and development of the asset management profession in Britain as a distinct activity within financial services, independent of banks and stockbrokers. Specifically, it identifies the main individuals and institutions after 1
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The study of the history of financial institutions, markets, instruments and concepts is vital if we are to understand the role played by finance today. At the same time, the methodologies developed by finance academics can provide a new perspective for historical studies. Palgrave Studies in the History of Finance is a multi-disciplinary effort to emphasise the role played by finance in the past, and what lessons historical experiences have for us. It presents original research, in both authored monographs and edited collections, from historians, finance academics and economists, as well as financial practitioners. More information about this series at http://www.springer.com/series/14583
Nigel Edward Morecroft
The Origins of Asset Management from 1700 to 1960 Towering Investors
Nigel Edward Morecroft Edinburgh United Kingdom
Palgrave Studies in the History of Finance ISBN 978-3-319-51849-7 DOI 10.1007/978-3-319-51850-3
ISBN 978-3-319-51850-3 (eBook)
Library of Congress Control Number: 22017934437 © The Editor(s) (if applicable) and The Author(s) 2017 This work is subject to copyright. All rights are solely and exclusively licensed by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. The publisher, the authors and the editors are safe to assume that the advice and information in this book are believed to be true and accurate at the date of publication. Neither the publisher nor the authors or the editors give a warranty, express or implied, with respect to the material contained herein or for any errors or omissions that may have been made. The publisher remains neutral with regard to jurisdictional claims in published maps and institutional affiliations. Cover illustration © HultonArchive / Getty Printed on acid-free paper This Palgrave Macmillan imprint is published by Springer Nature The registered company is Springer International Publishing AG The registered company address is: Gewerbestrasse 11, 6330 Cham, Switzerland
Acknowledgements
Charley Ellis and Gill Hollis suggested I should ‘have a go’ when I was first mulling over the idea of a book, while both Amanda Fisher and my daughter Heather read the first draft chapter and made encouraging comments, so they all bear some responsibility for what has followed, though the errors are all my own. Huge appreciation is due to the people who directly contributed by providing specific information, lines of enquiry and ideas. My old colleagues at Fore
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