Barings

The firm of Barings traced its origins to John Baring, a leading businessman in Southwest England in the early 18th Centrury. In 1762, his sons established the London merchant house of John & Francis Baring & Co, later known as Baring Brothers.

For much of the nineteenth century, Barings vied with Rothschilds for leadership in the London capital market. The firm was particularly involved in issuing bonds to finance the construction of railroads across North America and Europe. One of many spectacular historic deals came in 1803 when the firm, on joint account with Hope & Co of Amsterdam, issued USD11.25 million bonds to finance the US Government’s purchase of the Louisiana Territory (French Colonial Territory in Northern America) from France. This was an area larger than Great Britain, France, Germany, Italy, Spain and Portugal combined. This is still the largest real estate transaction ever undertaken.

After 1945 corporate finance work, fund management, and banking formed the three principal divisions of the firm. From the late 1970's, the firm increased its international focus. In 1995 the holding company, then known as Barings Plc, became insolvent as a result of unauthorised trading.

ING acquired the Business of Barings in 1995. Some elements were sold or closed during the years but their main activities were fully integrated with other ING businesses.

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