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The Merchant Bankers (1966)

von Joseph Wechsberg

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This fascinating chronicle of the world's great financial families offers candid profiles of the personalities behind seven legendary banking houses: Hambros, which now survives in name only; Barings, the oldest British banking dynasty; the Rothschilds, who amassed the largest private fortune in modern history; the Warburgs, a German dynasty of Venetian origin dating from the sixteenth century; the venerable Hermann Josef Abs, long-time chairman of Deutsche Bank; Lehman Brothers, formerly the oldest continuing partnership in American investing; and the eccentric and culturally savant financier Raffaele Mattioli, who headed Banca Commerciale Italiana. Focusing on figures of late-nineteenth-century London, this chronicle marks the distinctions between the cloistered Old World aristocracy and the rise of the high-stakes investors of Wall Street. Written by a longtime correspondent for the New Yorker, this fascinating account of daring financial adventures and their merchant banker orchestrators provides a wealth of context for understanding the evolution of modern investment banking. A new Foreword has been written specially for this edition by Christopher Kobrak, Wilson/Currie Chair of Canadian Business and Financial History at the Rotman School of Management, University of Toronto.… (mehr)
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The author notes in the introduction to this book that he came from a family of merchant bankers; it shows, as this book is, in general, a very gentle and positive look at a number of banking powers. Time has not been very good to some of the firms represented in the book, most notably Barings and Lehman Brothers. The book came out in the mid-1960s, at a time when the old ways were starting to die out. The culture depicted in the book, I believe, has almost completely vanished, with the possible exception of the last, rather insubstantial, chapter on the Rothschilds. (For the Rothschilds, you're better off with Niall Ferguson's two-volume history.) A pleasant, but not a very deep read, mostly for folks who love the idea of the old-fashioned merchant bankers meeting in wood-panelled rooms. Not really recommended, as the material in the book is treated better elsewhere. ( )
  EricCostello | Dec 28, 2018 |
This is a great introduction to money and banking, an introduction I wish I had had many years ago in my undergraduate class at Oglethorpe University in the 1950s. While the merchant bankers are heroes to the author who seldom gives a criticism (more than 50 per right is OK), the bias is upfront. ( )
  carterchristian1 | May 13, 2009 |
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This fascinating chronicle of the world's great financial families offers candid profiles of the personalities behind seven legendary banking houses: Hambros, which now survives in name only; Barings, the oldest British banking dynasty; the Rothschilds, who amassed the largest private fortune in modern history; the Warburgs, a German dynasty of Venetian origin dating from the sixteenth century; the venerable Hermann Josef Abs, long-time chairman of Deutsche Bank; Lehman Brothers, formerly the oldest continuing partnership in American investing; and the eccentric and culturally savant financier Raffaele Mattioli, who headed Banca Commerciale Italiana. Focusing on figures of late-nineteenth-century London, this chronicle marks the distinctions between the cloistered Old World aristocracy and the rise of the high-stakes investors of Wall Street. Written by a longtime correspondent for the New Yorker, this fascinating account of daring financial adventures and their merchant banker orchestrators provides a wealth of context for understanding the evolution of modern investment banking. A new Foreword has been written specially for this edition by Christopher Kobrak, Wilson/Currie Chair of Canadian Business and Financial History at the Rotman School of Management, University of Toronto.

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