The Origins of Asset Management from 1700 to 1960

Towering Investors

  • Nigel Edward Morecroft

Part of the Palgrave Studies in the History of Finance book series (PSHF)

Table of contents

  1. Front Matter
    Pages i-xv
  2. Nigel Edward Morecroft
    Pages 1-11
  3. Nigel Edward Morecroft
    Pages 13-54
  4. Nigel Edward Morecroft
    Pages 55-101
  5. Nigel Edward Morecroft
    Pages 103-142
  6. Nigel Edward Morecroft
    Pages 143-189
  7. Nigel Edward Morecroft
    Pages 191-219
  8. Nigel Edward Morecroft
    Pages 309-328
  9. Back Matter
    Pages 329-343

About this book


This book explores the origins and development of the asset management profession in Britain as a distinct activity within financial services, independent of banks and stockbrokers. Specifically, it identifies the main individuals and institutions after 1868 who established the profession. The book draws a distinction between banks (short-term deposit-taking) and asset management (an investment service with longer-term objectives). It explains why some banks fail but asset management businesses generally do not. It argues that asset management has been socially useful and has had a beneficial impact on the development of securities markets by offering choices to savers as an alternative to banks, improving the efficiency of capital allocation, re-cycling excess savings productively and enabling a range of investors - from institutions to individuals - to benefit from thoughtful, long-term investing.


Financial history Banking Investments Capital markets John Maynard Keynes Philip Rose Robert Fleming George Booth Ian Fairbairn George Ross Goobey Scottish Asset Management Institutional Investments Unit Trusts Pension Funds Philanthropy in asset management

Authors and affiliations

  • Nigel Edward Morecroft
    • 1
  1. 1.EdinburghUK

Bibliographic information

  • DOI
  • Copyright Information The Editor(s) (if applicable) and The Author(s) 2017
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-51849-7
  • Online ISBN 978-3-319-51850-3
  • Buy this book on publisher's site