Barclays: The Business of Banking, 1690-1996

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Cambridge University Press, 2001 - History - 481 pages
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This is a history of one of the world's most famous financial institutions from its foundation as a private Quaker partnership in 1690 to 1996. Over the course of its history, Barclays has been the largest bank in the world, in Africa, and in Britain. A pioneer in international trade finance and large scale branch banking, Barclays was responsible for the first automated teller machine in the world. This history of innovation and expansion is a microcosm of the successes and failures of corporate strategies in banking and is especially illuminating on the twentieth century. Extensively illustrated and accessibly written, the book is deliberately designed to appeal to readers beyond those with a specialist professional interest in financial history. It makes a major contribution to the economic and social history of modern Britain and the contemporary business world.
  

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Contents

Quaker private bankers 16901896
1
the first eighty years
3
The London and Norwich banking cousinhood
18
Quaker competitive advantage
23
Financiers and the industrial revolution
33
Quaker faith and worldly wealth
38
Victorian private banking and the growth of joint stock competition
48
Corporate consolidation and the control of competition 18961945
59
New entry diversification competition and excess capacity
214
Top management and corporate structure
219
Restructuring banking for business customers
225
Merchant banking and the development of BZW
241
Modernising personal banking
248
Trading businesses
255
Profits risk and return
258
the transition to global banking 19451992
268

Joint stock methods and banking oligopoly
66
Clerks women and unions
74
Overseas expansion and the origins of DCO
79
Family bankers professional bankers
85
Business clients
90
Consumer banking
100
a contestable market?
105
Costs and profits
108
Stability or stagnation? 19451961
114
head office and chairmen
121
Human resources and local head offices
126
Capital reserves and investments
133
Core business and corporate strategy
139
Shareholder returns and managerial objectives
151
The pace quickens 19621973
156
Credit control and competition
160
Core business and the growth of advances
165
The Martins merger
171
Diversification Barclaycard and beyond
184
Reorganisation marketing and planning
191
Expanding capital and falling profits
199
regulatory change universal banking and overcapacity 19731992
206
expatriate British bankers and local staff
269
Competitive advantage in postwar multidomestic banking
274
Decolonisation nationalism expropriation and localisation
285
from jewel in the crown to bankers burden
293
international strategy and global ambitions
301
America Europe and the Pacific Rim
308
retreat into realism?
320
19451992
327
from pioneering to profitability
328
recruitment training refocusing
343
The upshot for productivity
352
Capital costs computers and credit risk
363
Moving forward
368
the dilemma
371
Retrospect and prospect
373
The measurement of success
376
Names of those interviewed in the course of writing this history
385
Barclays board and senior management to 1996
387
Statistical appendix
393
Index
460
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