Abstract
The formation of Schroders Limited and the public offering in September 1959 were motivated by the Schroder family’s desire for a public quotation for their investments in the firms in London and New York, as discussed in Chapter 11. Financially, the advantage of having a common holding company was immediately demonstrated, since the strength of the consolidated equity of the holding company permitted the acquisition of Helbert, Wagg & Co. to be financed principally by unsecured debt, with only a 4 per cent increase in shareholders’ equity. Operationally, the creation of the holding company initially made no difference, since the London and New York firms were managed independently, but gradually the holding company became of greater and greater significance and the evolution of its strategic and managerial roles is one of the themes of this chapter. The other theme is the creation of an international group of Schroder companies through the formation of subsidiaries and associates.
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Notes and References
See, for instance, the article by Schroder Wagg executive John Cooper, ‘Common Market: what view should the City take?’, The Banker (1970) vol. 120, pp. 1180–5.
SA SLBM, 3 October 1973; D. Wilson, The Chase: the Chase Manhattan Bank NA, 1945–1985 (Cambridge, Mass.: Harvard Business School Press, 1986) pp. 193–4.
David Montague, ‘British merchant banking in Australia’, The Banker (1969) vol. 119, pp. 1317–21.
John Rule, ‘Merchant banks’ accounts — the need for disclosure’, The Banker (1972) vol. 122, pp. 1645–51.
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© 1992 J. Henry Schroder Wagg & Co. Ltd
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Roberts, R. (1992). International Expansion 1960–73. In: Schroders. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-09650-3_14
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DOI: https://doi.org/10.1007/978-1-349-09650-3_14
Publisher Name: Palgrave Macmillan, London
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