Guinness Mahon
| Industry | Investment bank |
|---|---|
| Fate | Acquired |
| Successor | Investec |
| Founded | 1836 |
| Defunct | 1998 |
| Headquarters | London, UK |
Key people | Geoffrey Bell (Chairman) |
Guinness Mahon was an Irish merchant bank originally based in Dublin but more recently with major operations in London.
History
The firm was founded as a land agency in Dublin in 1836 by barrister Robert Rundell Guinness, a great-nephew of the brewer Arthur Guinness,[1] and John Ross Mahon, an estate agent.[2][3] A London office opened in 1873, closed in 1916 during World War I and then re-opened again in 1923.[2] This became Guinness Mahon Holdings, which merged with Lewis & Peat Ltd in 1974, forming Guinness Peat (subsequently Guinness Peat Group).[2]
The Group ran into difficulties in the late 1980s[4] and demerged into three parts: the Guinness Mahon investment banking business, Fenchurch Insurance and the off-shore investment activities.[2] The offshore investment activities in Australia and New Zealand (then known as Guinness Peat Group) were bought by Brierley Investments Limited (a business controlled by Sir Ron Brierley) in 1990[5] and the Guinness Mahon investment banking business was acquired by Bank of Yokohama in 1991[4] and then sold on to Investec in 1998.[6]
Meanwhile, Fenchurch Insurance merged with Lowndes Lambert in 1997 to create Lambert Fenchurch, then with Heath Group in 1999 to form Heath Lambert and then with Arthur J. Gallagher & Co. in 2011 to form Gallagher Heath.[7]
Operations
Its subsidiaries and offshoots included Guinness Peat Aviation and Guinness Peat Group in New Zealand[8] and Guinness Flight Hambro, which became Investec Guinness Flight.[9]
References
- ↑ Jonathan Guinness (November 28, 1998). "Was it pure genius?". The Spectator.
- 1 2 3 4 AIM 25 Collection
- ↑ RRG's family and other details
- 1 2 Guinness Mahon goes up for sale 21 January 1998
- ↑ Weiss exits Guinness Peat but stays on at Coats The Australian, 1 April 2011
- ↑ Investec enlarges its footprint Business Times, 1998
- ↑ About Gallagher Heath
- ↑ Guinness Peat Group appoints four new directors
- ↑ Money Marketing, November 1998
- Ivy Frances Jones (1974). The rise of a merchant bank.