The Bank That Sacked Its Customers

Dan Snow's History Hit

When we think of investment banking we think of high-risk trades, profit at any cost and big bonuses but there is an institution that sees it differently; Brown Brothers Harriman. Brown Brothers was founded in 1818 and is one of the oldest banks in the US. It has maintained its cautious ethos ever since and in a world of unforeseen but actually quite foreseen catastrophes it begs the question as to what do you want your banks and companies to be like. chasing 100x profits or slow and steady? Zachary Karabell joins Dan for the story of the bank that sacked its customers, in the 80s, which bears the institutional memory of ships cargoes lost, financial collapses, pandemics and busts.