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for large buy and sell orders, whilst retaining and hopefully increasing the investment management side. There was a wind of change in the City. More sophisticated investment & financial vehicles were being introduced and the class system was breaking down with talented people being promoted regardless of their background. This was a welcome change, and a whole raft of new partners were brought in at B & M (including myself). We were a mixed bunch of young men from all levels of the social scale.
127:(1883-1946) one of the firm’s clients (also Bursar of King's College, Cambridge), joined with Falk to form a syndicate to speculate in currency movements. Keynes lost his fortune in 1920 with money borrowed from both his father and Falk. OT Falk eventually became a senior partner. He went on to write many financial papers and books which are studied today in Business Schools. Another partner,
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management of a clients money, the norm being that one had to refer to clients for permission before buying & selling shares on their behalf. B & M, driven by its forceful senior partner, Ian
Macpherson, had extended this principle to institutional funds as well as private individuals so that at that time the entire portfolios of a number of
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I eventually ended up in the 1970s as a partner in a medium sized (some 50 partners) firm of stockbrokers named
Buckmaster & Moore. The firm was perhaps at that time the largest manager of discretionary funds under management in the City. It was still quite novel then to have discretion over the
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became
Captain of the polo team. He developed into one of the country’s leading Polo players, winning silver medals in the 1900 and 1908 Olympic Games. He was also a member of the winning team in the International Polo Cup, in 1902. Through his aunt, Maria Sarah Buckmaster (Mrs Alfred Whitehead) he
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were founding partners of a London firm of stockbrokers, Buckmaster and Moore. Buckmaster had been admitted to the Stock
Exchange in 1895, and traded with other partners including Douglas Lyon Holms, Harry Walter Franklin and later Charles James Eglantine Armytage Moore who was admitted in 1903. The
222:
Thirty years ago I was employed by
Buckmaster & Moore, an English stockbroker, and was attending my first ever morning meeting in their offices at Bishopsgate EC2 (before it was redeveloped). The firm had been founded about 1900 by the captain of the Cambridge polo team and Olympic polo player,
204:
Shortly after I joined B & M there was a bloodless revolution in which the ageing Ian
Macpherson was sidelined and a group of younger partners took over the firm and it was decided to expand by attempting to develop a parallel business of selling research ideas to the big institutions in return
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People slept in the toilets and everyone carried a piece of paper with their address in their suit top pocket, so the taxi drivers knew where to take you when you passed out in the back of the cab. Share prices were displayed on one massive TV screen (28-inch) that sat next to the senior partner's
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served in the artillery and as an intelligence officer during the First World War, where he befriended T. E. Lawrence triggering his passion for exploring desert landscapes. He entered the
Diplomatic Service in 1919 resigning in 1924, joining the Bank of England and becoming a partner of B&M,
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an
English Liberal politician, civil servant and first-class cricketer. He was H. H. Asquith's Principal Private Secretary during Asquith's time as Prime Minister from 1910 to 1916 and later served in other government posts. He played cricket for Oxford University Cricket Club in the early 20th
105:(as an exhibitioner), where his uncle the social philosopher and historian, Arnold Toynbee, once taught. Joining the firm after leaving the Treasury, he began to develop a new view on economics. An earlier partner Francis James Rennell Rodd,
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As stockbrokers they had developed a good private client business, and were very well connected. They had London offices at 64 Cornhill, EC3 and later 52, Bishopsgate, EC2A. Their
Perfined Contract Revenue Stamp identity mark was
199:& the Provincial Insurance Company among many others (including of course private individuals) were run by B & M on a totally discretionary basis. This put the firm in a very powerful position
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and was Master of the
Warwickshire Foxhounds. He married Ida Sarah Blyth in 1896, they had two daughters who never married. He in died on 30 October 1942 at Warwick Hospital. Moore lived at
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Prices were updated by stock exchange orange buttons who, if they could be bothered, would walk around the stock exchange floor and ask jobbers if anything had changed. The jobbers
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Only partners were allowed to smoke cigars or drink spirits in the morning meeting (cigarettes were OK). Everyone smoked. Ashtrays were built into the desks. Everybody drank.
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in Surrey, married Celine Marie Pappa in 1917, daughter of a Greek born stockbroker, and died in December 1960. They had no children and Celine died in 1970.
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Group in 1987. Buckmaster & Moore was renamed and reorganised into broking and fund management operations. The company was dissolved in November 1996.
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OSWALD T. FALK, WALTER S. BUCKMASTER, C. J. E. ARMYTAGE MOORE, IAN MACPHERSON, ARTHUR J. BEAMISH, MAURICE BONHAM-CARTER, J. R. RALLI, R. N. M. MURRAY.
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O. Falk to J. M. Keynes, 17/3/1932, Keynes Papers, King's College, Alex Millmow, School of Business, University of Ballarat, Victoria, Australia
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131:(1880–1960) was also a Balliol graduate, and sportsman. In addition, he served as the Principal Private Secretary to the politician
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tadviser.com/2014/04/28/investments/multi-asset/it-was-probably-one-of-the-first-big-team-moves-6BshkdEs3z2ETVJTWqvTrK/article.html
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partnership between Buckmaster and Moore started around 1905.The others, Holms and Franklin, dissolved their partnership in 1908.
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in 1892, a British military officer and Member of Parliament for County Cavan, living in Castlewellan Castle, in County Down.
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desk. An active stock price would change maybe five times a day. Most didn't change. A four-point move on the FT All Share
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Statements of 'ordinary account' with Buckmaster and Moore 1920-1945 Cambridge University: Kings College Archive Centre
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In 1982 brokers had to get to work so early in the morning (8.30am) that every firm offered its employees a full
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Oswald Toynbee Falk: Keynes’s model economist?,Alex Millmow, School of Business Working Paper Series:001 - 2011
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cost the industry a day of productivity a year, if not two. On my first day I drank five pints at lunchtime. Of
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who served theirs in the boardroom. We had to get our own from the buffet table and eat it at 'the long' table
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The Foreign Exchange Market of London: Development Since 1900, John Atkin, Routledge, 2005
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Walter Buckmaster, and some Irish bloke from Repton whose father-in-law was a stockbroker.
217:(1961-) an English-born stockbroker and writer, currently resides in Melbourne, Australia.
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https://discovery.nationalarchives.gov.uk/details/r/1d1c05ab-807b-40d0-ac57-c45766e69b17
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The Perfin Revenue Stamps of Great Britain, The GB Perfin Society, J. Turnbull 2010,
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Wealth manager profile: Waverton’s John Bellamy, Portfolio Adviser 24 OCTOBER 2016,
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would create trade by pretending they had. Not a lot of prices changed after lunch.
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150:. Both of which, for different reasons decided the City was not the life for them.
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At one time in the late 1920s the firm employed the young Francis Pakenham, later
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The London Gazette, 16 February 1932: Buckmaster & Moore Partnership Notice
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The London Gazette, 26 March 1929: Buckmaster & Moore Partnership Notice
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The London Gazette, 2 April 1926: Buckmaster & Moore Partnership Notice
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https://portfolio-adviser.com/wealth-manager-profile-wavertons-john-bellamy/
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347:"Shemilt Family Tree, histories: JMA Shemilt, 24 February 2011 (1939- )"
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R F Harrod, The Life of John Maynard Keynes, London, Macmillan, 1951
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STOCKBROKERS RELIVE LIFE BEFORE THE BANG City AM 26 OCTOBER 2011
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in 1904. He was related - through his eldest sister Pricilla, to
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century. The actress Helena Bonham Carter is his granddaughter.
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cooked breakfast before the 9.30am meeting. The partners had a
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The Sydney Morning Herald: BusinessDay, article, July 7, 2012
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Defunct financial services companies of the United Kingdom
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https://www.cityam.com/stockbrokers-relive-life-the-bang/
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58:, and both excelled as sportsmen. Buckmaster, whilst at
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John Howard-Smith, FT Adviser Multi-asset Apr 28 2014
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110:resigning in 1929. He became managing director of
516:Financial services companies established in 1895
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186:James Michael (Mike) Anson Shemilt (1939-2015)
67:, the renowned mathematician and philosopher.
506:Financial services companies based in London
146:, as well as the young Oxford mathematician
471:Companycheck.co.uk: Buckmaster & Moore
521:British companies disestablished in 1987
436:O.T. Falk: (Keynes’s model economist?),
428:Cricket Archive (C Armytage Moore) MCC:
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165:The firm was eventually taken over by
16:London stockbroker established in 1895
511:British companies established in 1895
210:Recollections of B&M in the 1980s
181:Recollections of B&M in the 1970s
144:Frank Pakenham, 7th Earl of Longford
30:established in 1895 and acquired by
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153:Buckmaster lived at Moreton Manor,
135:and became a leading figure in the
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531:1987 disestablishments in England
501:Defunct companies based in London
173:List of partners in February 1932
80:Hugh Annesley, 5th Earl Annesley
107:Francis Rodd, 2nd Baron Rennell
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103:Balliol College, Oxford
93:One of their partners,
72:Marylebone Cricket Club
47:Walter Selby Buckmaster
65:Alfred North Whitehead
43:Charles Armytage-Moore
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129:Maurice Bonham Carter
118:Maurice Bonham-Carter
70:Moore had joined the
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255:FTSE All-Share Index
116:Another partner was
125:John Maynard Keynes
74:and played against
333:2012-03-27 at the
315:2012-03-27 at the
257:was a volatile day
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148:J. H. C. Whitehead
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264:Stockjobber
28:stockbroker
480:Categories
286:References
193:Cambridge
331:Archived
313:Archived
423:Sources
101:, then
88:B&M
38:History
24:B&M
246:Pimm's
233:butler
465:Links
359:2013
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