Grieveson Grant was a prominent stockbroking firm on the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

History

The firm was originally founded in 1869. In 1899 the firm had its offices at 61 Old Broad Street in the

City of London The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London fr ...

. In the early 1970s, the firm was the largest in terms of member partners with 46 partners.

Expansion in corporate finance

In June 1982 was engaged in merger talks with the long established stockbroking firm of Joseph Sebag & Company. After a process of seven weeks negotiations the mooted merger was called off suddenly. Instead the prize corporate finance division of Sebags merged with Grieveson Grant and around half of the firms’ 40 partners and associates and 50 staff moved over to the other firm and the rest were made redundant.

Takeover by Kleinwort Benson

The prominent merchant bank,

Kleinwort Benson Kleinwort Benson was a leading investment bank that offered a wide range of financial services from offices throughout the United Kingdom and Channel Islands. Two families, the Kleinworts and the Bensons, founded two different merchant banks in L ...

, decided to enter the securities market buying Grieveson Grant in April 1986. Although, like many other banks at the time, Kleinwort Benson contemplated buying a jobbing firm in order to get into that part of the market, in the end it was saved from having to do so by the defection of a number of senior market-makers from Wedd Durlacher Mordaunt as it was acquired by

Barclays Bank Barclays () is a British multinational universal bank, headquartered in London, England. Barclays operates as two divisions, Barclays UK and Barclays International, supported by a service company, Barclays Execution Services. Barclays traces ...

. In 1995, Kleinwort Benson was acquired by

Dresdner Bank Dresdner Bank AG was a German bank and was based in Frankfurt. It was one of Germany's largest banking corporations and was acquired by competitor Commerzbank in May 2009. History 19th century The Dresdner Bank was established on 12 Novemb ...

and, as Dresdner Kleinwort, became its investment banking arm. Over a series of further closures and sales, the original business of Grieveson Grant was reduced and the name disappeared from corporate branding.

History

Expansion in corporate finance

Takeover by Kleinwort Benson

References

Further reading