M&G Group

Sectors:

  • Financial services Investment management services inc investment trusts, unit trust, pension funds, etc

Notes:

Traced origins as a unit trust manager to 1931 following reorganisation of the civil engineering business, White Group / White Drummond of New York and London, when a UK subsidiary, Municipal & General Securities Co Ltd was acquired by George Booth of Booth Steamship Co. Soon launched UK's first open ended unit trust - First British Fixed Trust - quickly followed by three others. Business subsequently developed by Ian Fairbairn. Post 1945 developed very rapidly when reorganised into M&G Group (Holdings) Ltd with the newly created Fairbairn Charitable Trust [Esmee Fairbairn Foundation] holding a controlling interest. A major minority interest soon taken by the merchant bank, Robert Benson Lonsdale. 1999 acquired from Fairbairn by Prudential Assurance Co Ltd

Groups: