Guinness Mahon Business Operations and Winding Down

Guinness Mahon's business operations were affected by the bank's reputation being tarnished by the collapse of a major client, BCCI.

The bank's operations were significantly impacted, leading to a decline in deposits and a loss of confidence among customers.

Guinness Mahon's management team made the difficult decision to wind down the bank's operations, citing the bank's inability to recover from the damage caused by the BCCI collapse.

A fresh viewpoint: Why Does Guinness Have a Ball in It?

Guinness Mahon had a London office that opened in 1873 and was re-opened after being closed during World War I.

The firm acquired banking business from London Merchant Bank Ltd. in 1939 and later took over the business of Goschens & Cunliffe in 1941.

In 1974, Guinness Mahon Holdings merged with Lewis & Peat Ltd to form Guinness Peat. This was followed by the acquisition of White & Cheeseman, a stock jobber, in April 1984.

The Group demerged into three parts in the late 1980s: the Guinness Mahon investment banking business, Fenchurch Insurance, and off-shore investment activities. The off-shore investment activities in Australia and New Zealand were sold to Brierley Investments Limited in 1990.

The Guinness Mahon investment banking business was acquired by Bank of Yokohama in 1991 and later sold to Investec in 1998. Fenchurch Insurance merged with several companies to eventually form Gallagher Heath.

Broaden your view: Alcoholic Guinness