Mercury Asset Management
Encyclopedia
Mercury Asset Management plc was a leading British
investment management
business. It was listed on the London Stock Exchange
and was a constituent of the FTSE 100 Index
.
, the investment bank, won an investment management contract and set up Warburg Investment Management to execute it. In 1987 25% of the business was floated on the London Stock Exchange
as Mercury Asset Management.
Carol Galley
, one its leading managers, was credited with facilitating the takeovers by Granada of both London Weekend Television
in 1994 and Forte Group
in 1996. At its peak more than half the companies on the FTSE 100 used Mercury Asset Management for investment management purposes.
In 1995 the Company achieved full independence when S. G. Warburg & Co. sold its investment banking business to Swiss Bank Corporation
and the residue of S. G. Warburg & Co. became a subsidiary of Mercury Asset Management. The Company was acquired by Merrill Lynch
for £3.1bn in 1997.
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
investment management
Investment
Investment has different meanings in finance and economics. Finance investment is putting money into something with the expectation of gain, that upon thorough analysis, has a high degree of security for the principal amount, as well as security of return, within an expected period of time...
business. It was listed on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
and was a constituent of the FTSE 100 Index
FTSE 100 Index
The FTSE 100 Index, also called FTSE 100, FTSE, or, informally, the footsie , is a share index of the 100 most highly capitalised UK companies listed on the London Stock Exchange....
.
History
The Company was established in 1969 when S. G. Warburg & Co.S. G. Warburg & Co.
S. G. Warburg & Co. was a London-based investment bank. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but it was acquired by Swiss Bank Corporation in 1995.-Founding and early history:...
, the investment bank, won an investment management contract and set up Warburg Investment Management to execute it. In 1987 25% of the business was floated on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
as Mercury Asset Management.
Carol Galley
Carol Galley
Carol Galley is a businesswoman who, as a Director of Mercury Asset Management, was regarded as the most powerful woman in the City in the 1990s.She was educated at Gosforth Grammar School in Newcastle upon Tyne and at the University of Leicester....
, one its leading managers, was credited with facilitating the takeovers by Granada of both London Weekend Television
London Weekend Television
London Weekend Television was the name of the ITV network franchise holder for Greater London and the Home Counties including south Suffolk, middle and east Hampshire, Oxfordshire, south Bedfordshire, south Northamptonshire, parts of Herefordshire & Worcestershire, Warwickshire, east Dorset and...
in 1994 and Forte Group
Forte Group
Forte Group plc was a British hotel and restaurant company. It was listed on the London Stock Exchange and was a constituent of the FTSE 100 Index until it was acquired by Granada PLC.-History:...
in 1996. At its peak more than half the companies on the FTSE 100 used Mercury Asset Management for investment management purposes.
In 1995 the Company achieved full independence when S. G. Warburg & Co. sold its investment banking business to Swiss Bank Corporation
Swiss Bank Corporation
Swiss Bank Corporation was a large integrated financial services company located in Switzerland...
and the residue of S. G. Warburg & Co. became a subsidiary of Mercury Asset Management. The Company was acquired by Merrill Lynch
Merrill Lynch
Merrill Lynch is the wealth management division of Bank of America. With over 15,000 financial advisors and $2.2 trillion in client assets it is the world's largest brokerage. Formerly known as Merrill Lynch & Co., Inc., prior to 2009 the firm was publicly owned and traded on the New York...
for £3.1bn in 1997.
Further reading
- Peter Stormonth Darling, The Life & Times of Mercury Asset Management, Texere, 2000 ISBN 978-1587990359