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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Trust companies and boards of executors versus banks: aspects of the battle for corporate trusteeship and trust business in South Africa up to 1940
Author:Ehlers, AntonISNI
Year:2007
Periodical:South African Journal of Economic History
Volume:22
Issue:1
Pages:22-50
Language:English
Geographic term:South Africa
Subjects:banks
foundations
economic history
business financing
1900-1949
Abstract:The development of a tradition of urban and rural trust companies and boards of executors in the Cape Colony since the first half of the 19th century made trust companies an important player in the South African financial sector. In the first decade of the 20th century, leading banks in South Africa, such as the Standard Bank and the National Bank of South Africa, entered the market for trust and estate services. The Standard Bank and the National Bank were formidable opponents in the battle for trust business. This article traces the origin and describes the nature and manifestation of this competition between these two dominant banks and trust companies as corporate trustees, and indicates the manner in which this affected the relationship between trust companies and banks. The controversy occurred in three stages: 1911-1914, 1920 and 1934-1937. The article concludes with an indication of the 'outcome' of this battle and its broad implications for the financial sector and institutions involved. Notes, ref. [ASC Leiden abstract]
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