Banking & finance

Durlacher, Nicholas (13 of 18) National Life Stories: City Lives

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  • Type

    sound

  • Duration

    00:29:52

  • Shelf mark

    C409/127

  • Subjects

    Jobbing; Futures exchange

  • Recording date

    1995-03-01, 1995-04-01, 1995-23-11

  • Is part of (Collection)

    City Lives

  • Recording locations

    interviewee's office, London

  • Interviewees

    Durlacher, Nicholas, 1946-, (speaker, male)

  • Interviewers

    Courtney, Cathy, 1954- (speaker, female)

  • Abstract

    Part 13 (tape 7 side A): Events in 1971 - Rolls Royce bailed out by Government - his firm's underwriting position in sale back to public of Rolls Royce shares - substantial trading loss - reorganisation of firm by Management Consultants - effects thereof. System on Stock Exchange of paying Christmas bonuses considered a guide to firm's annual profit. Talks here about political and economic changes and effect on gilts - rise in interest rate - I.M.F.'s strictures - enormous profit opportunities for his firm. Re Nicholas Goodison vis-a-vis Stock Exchange. Improvement in economy in '80s - more foreign investment in U.K. - especially by Americans outside Stock Exchange - took business away. Eurobond market - Big Bang - foreign currency dealings - new dealing system - SEAC International - PR problem for London exchange. Taurus electronic system - ambitious project, not successful - money down drain - consequence of this failure - Crest to replace Taurus.

  • Description

    Interview with Nicholas Durlacher CBE, member of the Stock Exchange (1970–86), Partner at Wedd Durlacher (1972-86) and Chairman of Elexon Ltd (2000–10).

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