Barings Plc Case Study

The case I chosen is the Barings Plc. This company started in 1762 as the John and Francis Baring Company by a person named Francis Baring, with his older brother John Baring as a business partner. Two of them are the sons of John Baring which is born in Bremen, Germany and work as wool trader of Exeter. This company’s office is beginning at a street in City of London which calls as Cheapside. With the business growth, the company’s office was swift to Mincing Lane after few years. Barings slowly expand his business from wool to other type industries; one of it was offered financial services which required for the international trade growth. By 1790, Barings had greatly growth its business resources due to Francis’ efforts in London and finally association …show more content…
Then, the new partners of Francis were his eldest son Thomas and son in law Charles Wall. After that, Barings and Hope were asked on to promote the largest land purchase in the history which was the Louisiana Purchase in 1802. This project was done in fast due to that time Britain was at war with France. With the help of the sales, the effect of financing Napoleon’s war effort. Basically, the United States was purchased Louisiana from Barings and Hope, not from Napoleon. With the down payment $3 million in gold, the balance of purchase is pay by U.S bond. After that, Alexander which is second son of Francis who working for Hope & Co made the arrangements in Paris with director of public treasury which is Francois Barber- Marabous. Then, Alexander went to United States to take the bonds and send them to France. With Francis retired in 1803, the company restructured as Baring Brothers & Co which Thomas’ younger brothers Alexander and Henry to become partners in 1804, which it stayed until 1890. After that, the company changed to 8 Bishops gate for renovation of old company then finally putting up a new high rise building in