Banking & finance

Durlacher, Nicholas (16 of 18) National Life Stories: City Lives

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  • 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 16 (tape 8 side B): About Michael Richardson's career - corporate finance at Cazenove's and Rothschild's - charman of Smith New Court - now with Hambro Morgan. Leading up to Big Bang. About de Zoete's -good gilts and equity business - Barclays and other banks getting involved in securities business - Barclays prepared to pay more than any other for acquisition of W.D. - ND responsible for BZW Futures business. Effect of merger on ND and on members of staff of W.D. generally - also on junior partners of firm. About Timothy Bevan, Chairman at Barclays then, Andrew Buxton and Tom Camoys all concerned with details of merger - discusses their personalities - tribulations of 1987 big slump. About Martin Jacomb's explanation as to Barclays' involvement with W.D. - Martin Jacomb's personality - his nurture of BZW in the early stages - calming the Bank's fears etc About departure of Charles Hugh Williams and his team from firm - effect on ND and on Barclays - physical stages of merger - various venues in City - Ebbgate House - state of the market - intense competition - firms with a lot of money would survive. Surprise at failure of Warburg - mentions leading UK investment bankers - advantages of Old Boy network - difficult for American firms to disturb existing relationships - hence failure of UK firms bought by USA firms. Different company names for various aspects of BZW now.

  • 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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