Banco Galliano
Encyclopedia
Banco Galliano was the oldest bank
Bank
A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...

 in the British overseas territory
British overseas territories
The British Overseas Territories are fourteen territories of the United Kingdom which, although they do not form part of the United Kingdom itself, fall under its jurisdiction. They are remnants of the British Empire that have not acquired independence or have voted to remain British territories...

 of Gibraltar
Gibraltar
Gibraltar is a British overseas territory located on the southern end of the Iberian Peninsula at the entrance of the Mediterranean. A peninsula with an area of , it has a northern border with Andalusia, Spain. The Rock of Gibraltar is the major landmark of the region...

.

History

In 1855 Antonio Luis Galliano (1803–1866) and his family, immigrants from Genoa
Genoa
Genoa |Ligurian]] Zena ; Latin and, archaically, English Genua) is a city and an important seaport in northern Italy, the capital of the Province of Genoa and of the region of Liguria....

 via Cádiz
Cádiz
Cadiz is a city and port in southwestern Spain. It is the capital of the homonymous province, one of eight which make up the autonomous community of Andalusia....

, established A.L. Galliano Bankers in Gibraltar, better known as Banco Galliano in Spanish
Spanish language
Spanish , also known as Castilian , is a Romance language in the Ibero-Romance group that evolved from several languages and dialects in central-northern Iberia around the 9th century and gradually spread with the expansion of the Kingdom of Castile into central and southern Iberia during the...

, or Galliano's Bank in English
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...

. This family-owned bank was Gibraltar’s oldest bank, though it did not incorporate
Incorporation (business)
Incorporation is the forming of a new corporation . The corporation may be a business, a non-profit organisation, sports club, or a government of a new city or town...

 until August 1978. (Before that it was a partnership.) In 1987 Jyske Bank
Jyske Bank
Jyske Bank A/S is the third largest Danish bank in terms of market share.The headquarters are located in Silkeborg, and the Bank has offices, branches, or subsidiaries in Denmark, France, Germany, Gibraltar, the Netherlands, Switzerland, and the United Kingdom.Jyske Bank is number three in Denmark...

 acquired Banco Galliano renaming it Jyske Bank (Gibraltar) Limited..

From the latter half of the 19th century, Galliano's bank started to face competition. The Anglo-Egyptian Bank
Anglo-Egyptian Bank
The Anglo-Egyptian Bank was a British overseas bank established in 1864. The founding banks were Agra and Masterman's Bank and the General Credit and Finance Co., and the bank incorporated Pastré Frères et Compagnie and Giovanni Sinadino and Co., which was the only one of the four to have its seat...

 (later Barclays) opened a branch in 1888, and Credit Foncier
Credit Foncier
Credit Foncier is the name of* Crédit Foncier de France, a mortgage bank in France.* Credit Foncier of America, a defunct real estate company in the U.S....

 (later Crédit Agricole
Crédit Agricole
Crédit Agricole S.A. is the largest retail banking group in France, second largest in Europe and the eighth largest in the world by Tier 1 capital according to The Banker magazine. It is also part of the CAC 40 stock market index....

) entered in 1920. There were also, by the turn of the century, four other small, family-owned banks - Cuby Brothers, Benzecry (El Banquerito), Rugeroni Brothers, and Marrache and Sons - but by 1940 these had ceased operating.

A.L. Galliano Bankers survived the Great Depression
Great Depression
The Great Depression was a severe worldwide economic depression in the decade preceding World War II. The timing of the Great Depression varied across nations, but in most countries it started in about 1929 and lasted until the late 1930s or early 1940s...

, the Spanish Civil War
Spanish Civil War
The Spanish Civil WarAlso known as The Crusade among Nationalists, the Fourth Carlist War among Carlists, and The Rebellion or Uprising among Republicans. was a major conflict fought in Spain from 17 July 1936 to 1 April 1939...

, and both world war
World war
A world war is a war affecting the majority of the world's most powerful and populous nations. World wars span multiple countries on multiple continents, with battles fought in multiple theaters....

s, albeit with difficulty. Gibraltarian
Gibraltarian people
The Gibraltarians are a cultural group native to Gibraltar, a British overseas territory located near the southernmost tip of the Iberian Peninsula at the entrance to the Mediterranean sea.- Origins :...

 Francis (Paco) Galliano OBE, the last Galliano to own and run the bank, entered the bank in 1944 at the age of 17. He became a partner
Partner (business rank)
A partner in a law firm, accounting firm, consulting firm, or financial firm is a highly ranked position. Originally, these businesses were set up as legal partnerships in which the partners were entitled to a share of the profits of the enterprise. The name has remained even though many of these...

 in 1953 and the senior partner in 1964. His son, Frank Galliano was General Manager until the takeover.

Trivia

In 1822, Spanish
Spanish people
The Spanish are citizens of the Kingdom of Spain. Within Spain, there are also a number of vigorous nationalisms and regionalisms, reflecting the country's complex history....

 the guitar-maker
Luthier
A luthier is someone who makes or repairs lutes and other string instruments. In the United States, the term is used interchangeably with a term for the specialty of each maker, such as violinmaker, guitar maker, lute maker, etc...

 Joséf Pagés
Joséf Pagés
Joséf Pagés, who was born circa 1740 and died after 1822, was a notable Spanish guitar maker of the Cádiz school.-Life and work:Joséf Pagés was probably born in Ecija, Sevilla around 1740. His brother Juan Pagés also became a notable guitar maker. It is thought that Joséf was the first of the...

 made a Spanish guitar that came to belong to members of the Galliano family, and which Paco Galliano sold in 2008 for £
Pound sterling
The pound sterling , commonly called the pound, is the official currency of the United Kingdom, its Crown Dependencies and the British Overseas Territories of South Georgia and the South Sandwich Islands, British Antarctic Territory and Tristan da Cunha. It is subdivided into 100 pence...

6,600.
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