The Baring timeline
This timeline details key events and transactions in Barings' history from the 1760's to the present day.
| 1760s | ||
|---|---|---|
| 1762 | The firm was established on Christmas Day as John & Francis Baring & Co, merchants. |  |
| 1763 | The firm opened for business on New Year's Day. | |
| 1770s | ||
|---|---|---|
| 1774 | Account opened for the first North American client. | |
| 1775 | Account opened for the first Russian client. | |
| 1780s | ||
|---|---|---|
| 1783 | Won contract won to supply stores to the British army in North America. | |
| 1790s | ||
|---|---|---|
| 1795 | First resident agent, Alexander Baring, sent to the USA. |  |
| 1796 | British government bonds issued. | |
| One million acres of land in the Territory of Maine acquired as an investment on joint account. | ||
| 1800s | ||
|---|---|---|
| 1801 | Managed the firm's first bond issue for an overseas client, the Kingdom of Portugal. | |
| 1803 | With Hope & Co of Amsterdam, issued US$11.25 million bonds to finance the USA's purchase of the Territory of Louisiana from France. | |
| Appointed London agents of the United States government. | ||
| 1810s | ||
|---|---|---|
| 1817 | Lead managed bond issues for the government of France to finance reparation payments to the allies. | |
| Appointed London agents of the Bank of the United States. | ||
| 1820s | ||
|---|---|---|
| 1824 | Managed the first bond issue for Argentina [Province of Buenos Aires]. | |
| 1830s | ||
|---|---|---|
| 1835 | Appointed London agents for the government of Upper Canada. | |
| Appointed Russian government's agents in London. | ||
| 1850s | ||
|---|---|---|
| 1852 | Managed the firm's first major issue of railroad bonds to finance the Canadian Grand Trunk Railway. |  |
| 1860s | ||
|---|---|---|
| 1860 | Re-established ship management activities, especially the management of clipper ships bringing China tea to Britain. |  |
| 1880s | ||
|---|---|---|
| 1881 | Managed the firm's first bond issue for an Indian business, the Bengal Central Railway Co Ltd. | |
| 1882 | Managed the Italian Government Currency Stabilisation Loan. | |
| 1886 | Floated the private partnership of Arthur Guinness, Son & Co as a public company. |  |
| 1890s | ||
|---|---|---|
| 1890 | Reconstruction of Barings as a limited company, Baring Brothers & Co., Limited, following a liquiditiy crisis and rescue by a Bank of England loan. | |
| 1900s | ||
|---|---|---|
| 1902 | Commenced business for the Japanese government through lead managing the first yen denominated bond issue in London. | |
| 1909 | Participated in the formation of the National Bank of Turkey. | |
| Lead managed a bond issue for the City of Constantinople to finance the construction of the Karakeuy Bridge. | ||
| 1910s | ||
|---|---|---|
| 1914 | Advised the Russian government on raising wartime finance and handled the banking arrangements required for the government's sterling purchases of war supplies. | |
| 1920s | ||
|---|---|---|
| 1920 | Advised major engineering company Sir WG Armstrong Whitworth & Co Ltd on its reconstruction and refinancing. | |
| 1922 | Introduced the State of Czechoslovakia bonds to the international markets in order to finance monetary and infrastructure reconstruction. | |
| 1929 | Advised on the reorganisation of the Lancashire cotton textile industry through the formation of the Lancashire Cotton Corporation. | |
| 1930s | ||
|---|---|---|
| 1930 | Managed the issue of bonds for Underground Electric Railways Co of London Ltd in order to finance the extension of the London Underground and the reconstruction of several central London stations. |  |
| Advised on the reconstruction of Argentina's external public debt. | ||
| 1950s | ||
|---|---|---|
| 1951 | Arranged the firm's first bond issue for the World Bank. | |
| 1955 | Established an Investment Department to undertake asset management. | |
| 1960s | ||
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| 1962 | Advised Courtaulds Ltd on its defence of a hostile takeover bid from ICI Ltd. | |
| 1966 | Became a founder shareholder in the Australian merchant bank of Martin Corp Group. Disposed of 1983. | |
| 1969 | Establishment of the Baring Foundation to receive 74 per cent of the equity of Baring Brothers & Co Limited. | |
| 1970s | ||
|---|---|---|
| 1970 | Participated, with four other banks, in the formation of the consortium bank of London Multinational Bank Ltd. Sold interest in 1977. | |
| 1972 | Formed the Paris-based merchant bank of Baring Brothers SA. | |
| 1973 | With London Multinational Bank Ltd and Sanwa Bank formed Baring Sanwa Multinational Bank Ltd at Hong Kong and Singapore. | |
| Participated, with three other banks, in the formation of ICON Ltd, merchant bankers at Lagos, Nigeria. | ||
| 1974 | Opened a representative office at Tokyo. | |
| Participated with other banks in the formation of Pertanian Malaysia Sanwa Multinational Berhad, merchant bankers in Kuala Lumpur, Malaysia. | ||
| 1978 | Bought out remaining shareholders in Hong Kong and Singapore joint venture Pertanian Malaysia Sanwa Multinational Berhad. Renamed Baring Brothers Asia Ltd. | |
| Established a representative office in New York which was reorganised in 1979 as Baring Brothers Inc. | ||
| 1980s | ||
|---|---|---|
| 1983 | Formed Baring Brothers Halkerston & Partners Ltd, merchant bankers at Sydney, Australia. | |
| 1984 | Acquired Japanese broking business of Henderson Crosthwaite which was then incorporated as Baring Far East Securities Ltd. Renamed Baring Securities Ltd in 1986. | |
| Baring Brothers Hambrecht & Quist Ltd formed to manage venture capital funds. | ||
| 1985 | A holding company structure adopted. Barings Plc, now fully owned by the Baring Foundation, was the top level in the structure. | |
| Wilson & Watford, London stockjobbers engaged in the gilt edged market, acquired and renamed Baring, Wilson & Watford. | ||
| Baring Securities admitted to membership of the Tokyo Stock Exchange. | ||
| 1986 | Baring Brothers and Baring Securities opened a representative/research office at Seoul, Korea. | |
| Baring Capital Investors Ltd formed to advise funds providing development capital, in particular for management buy-outs. | ||
| Baring Securities Inc established in New York. | ||
| 1987 | Baring Securities [Singapore] Pte Ltd established. | |
| 1988 | Reorganisation of Barings' business in Paris through formation of Baring Brothers [France] SA to provide corporate finance advisory services. | |
| Formation of Baring Brothers [Espana] Ltd to provide corporate finance advisory services. | ||
| Baring Research Ltd established at Bangkok. | ||
| Baring Securities Inc opened an office at Los Angeles. | ||
| 1989 | Formation of Baring Brothers [Deutschland] GmbH at Frankfurt to provide corporate finance advisory services. | |
| Formation of Baring Brothers [Italia] Srl to provide corporate finance advisory services. | ||
| Establishment of representative office at Osaka by Baring Securities. The office was upgraded to branch status in 1990. | ||
| Baring Securities opened branches at Kuala Lumpur and Jakarta. | ||
| The top holding company for Barings' investment management services was renamed Baring Asset Management Ltd and the London based companies centralised at new premises in the Broadgate Centre. | ||
| 1990s | ||
|---|---|---|
| 1990 | Baring Research SA de CV opened at Mexico City. Baring Securities [Philippines] Inc established at Manila. Baring Securities [Taiwan] Ltd established at Taipei. | |
| 1991 | Acquired a 40 per cent interest in Dillon Read, New York investment bankers. | |
| Baring Securities Argentina SA established at Buenos Aires. | ||
| 1992 | Baring Brothers opened a corporate finance office at Mexico City. | |
| Baring Securities do Brazil Ltda established at Sao Paulo. | ||
| Baring Securities [Andean Pact] Ltda formed at Bogota, Colombia. | ||
| 1993 | Baring Securities Australian business merged with that of Mackintosh Securities Ltd. | |
| Abbey National Baring Derivatives Ltd, a joint venture with Abbey National Plc, formed to do business in the interest swap options and currency swap markets. | ||
| Barings [Chile] Ltda established. | ||
| Baring Securities Inc Surcursal Del Peru established. | ||
| 1994 | Established a corporate finance representative office at Buenos Aires. | |
| 1995 | Barings Plc became insolvent and its business was acquired by ING and later renamed ING Barings. Baring Brothers Ltd, Baring Brothers International Ltd and ING Baring Securities Ltd were initially the three major operating companies. | |
| ING Barings in London moved to 60 London Wall. | ||
| 2000s | ||
|---|---|---|
| 2002 | ING Barings dropped the Barings from its name entirely. | |
| 2004 | ING Group finalised the sale of Baring Asset Management to MassMutual Financial Group and Northern Trust Corp. | |
| 2008 | The Baring Archive and associated historical portraits were loaned by ING to The Baring Archive Limited, a charitable company established by ING to manage the collections and develop their use as an educational resource. | |