Victorian England was not known for its progressive views. But one element of that strait-laced society was highly advanced in its thinking.
The finance industry, even then, was helping companies to raise money by issuing bonds and Law Debenture Trust, founded in 1889, was a key part of that nascent market.
The group was established to ensure that bonds were administered properly and that, if companies fell into problems, investors were treated fairly.
OK, old established, know what they’re doing, almost certainly some regulatory protection against competition as well. Now this:
Law Debenture still performs that task today. Over the past 130 years, however, the group has evolved considerably, not least in the past 15 months, during which time it has acquired a new chairman, chief executive and finance director.
The top team are determined to galvanise growth at Law Debenture and the shares, at 576p, should respond.
Anything like that reminds me of Willy Hutton at The Industrial Society. No, obviously not the same etc. But, you know, can’t help thinking of eager new management in to shake up old established expertise….