The death of old school British banking
The ancient bastions of financial fortitude are now a tale of long bygone era.
The continental banking houses of Lazard and Rothschild are shells of their past greatness: for the former, one can look back fondly to the age of the "Three Houses of Lazard" or N.M.Rothschild & Sons when they led gold-fixing at their premises - a ritual which began with four other venerable gold bullion merchants on September 12, 1919 (seized in 2004).
S.G.Warburg, Barings and Kleinwort Benson (later Dresdner Kleinwort) are no more. What happened? They were respectively incorporated into UBS, wrecked by greed and only its wealth management arm Kleinwort Hambros lives under the name of its acquirer, Société Générale.
Are there any other old school banking institutions or is this the end forever? We may never see this ever again...
Based on the most helpful WSO content, it seems that the traditional banking institutions you mentioned have indeed undergone significant changes. Lazard and Rothschild, once powerhouses in their own right, have seen their influence wane over time. S.G.Warburg, Barings, and Kleinwort Benson have either been absorbed into larger entities or have ceased to exist in their original form.
As for whether there are any other old school banking institutions, it's hard to say definitively. The banking industry is constantly evolving, and many institutions have had to adapt or risk becoming obsolete. However, it's also important to note that while the names and structures of these institutions may have changed, many of the practices and principles of traditional banking remain.
As for whether this is the end forever, only time will tell. The financial industry is cyclical and constantly evolving, so it's possible that we may see a resurgence of traditional banking institutions in the future. However, for now, it seems that the trend is towards consolidation and modernization.
Sources: Anyone else fed up with the banking/finance industy?, How To Kill a Bank (Part 1 of 3), Anyone else fed up with the banking/finance industy?, Credit Suisse is Finally Going to Blow, "Banking is still a place where the cool kids want to go"
This decline was precipitated by the hiring of non-Oxbridge types. Whatever happened to wine with lunch and golf at 4...
lmao the wso mod team removed my comment of calling this elitist pos a nerd. guess the hoi polloi isn't allowed to speak back to its oxbridge superiors eh?
🤓🤓🤓🤓🤓
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