447:. The firms' assets in Asia were later sold by UBS to Sassoon & Co an investment house founded by David Sassoon's younger brother Joseph Sassoon (1795-1872), Today J. Sassoon Financial Group LLC is the holding arm of the Sassoon Family Continuation Trust which holds and manages the assets of the Joseph Sassoon branch of the family, and Sassoon & Co is its investment and merchant banking arm, providing investment management, merchant banking and global advisory services to its clients. The firm invests in composite material technology, agriculture and food security, logistics, energy, mining and technology and financial services in the Eastern and Southern Mediterranean, South America, Asia and Africa. However, the firm maintains a strong focus on the U.S. and Israeli markets, which represent 60% of its portfolio assets.
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signed a treaty agreeing to gradually eliminate the opium exports to China over the next decade while China agreed to eliminate domestic production over that period. Following this treaty David
Sassoon & Co. retreated from the opium trade, eventually stopping it completely, although this had been
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500,000. There was no public issue, but for the first time shares were given to leading company managers who did not belong to the
Sassoon family. The reorganization was made necessary by intensified completion in both India and China, and above all the growing challenges from Japanese manufactures.
270:
ceased to be an important opium dealer either in India or China by the early 1870s. By then David
Sassoon & Co. handled around 70% of the trading volume in Indian opium. Jardine Matheson ended its opium trade in 1872, when its last remaining major client, ″Rustomjee Eduljee″ in Bombay, closed.
261:
During the 1860s David
Sassoon & Co. started to dominate the opium trade between India and China. By purchasing unharvested crop directly from Indian producers it was able to undercut British competitors which had obtained supplies from middlemen.
318:
manufacturing business when it founded the ″Sassoon & Alliance Silk Mill Co. Ltd.″. The firm also acquired extensive property in Hong Kong, Canton and northern China. David
Sassoon & Co. als acted as agent for many other companies in
713:"The Directory & Chronicle for China, Japan, Korea, Indo-China, Straits, Settlements, Malay States, Siam, Netherlands India, Borneo, The Philippines & C. for the Year 1912", The Hongkong Daily Press Office, Hongkong/ London 1912.
274:
In 1867, three years after the death of the company's founder, his second son, Elias David
Sassoon, broke away from his family's company because of personal resentments between him and his other brothers. He set up his own firm, called
354:
Although David
Sassoon & Co. stuck with its trading heritage it was involved in banking activities from its earliest years. David Sassoon & Co. formed part of a consortium of British merchants who founded the
279:", starting to trade in dried fruits, nankeen, metals, tea, silk, spices and camphor from modest offices in Bombay and Shanghai. It soon proved to be more energetic than David Sassoon & Co. and by the later
302:) for a better access to the markets for capital and information. In 1874 David Sassoon established a new subsidiary in Bombay, the "Sassoon Spinning and Weaving Company", which by the time opened seven
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David
Sassoon & Co. was "a shadow of the firm it had been at the turn of the caentury". In 1982 David Sassoon & Co. was sold for around £2 million to the London stockbroker
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at 9 Tamarind Street (does not exist any longer) initially involved in banking activities and property investments. But it soon started to deal successfully in all sorts of
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David
Sassoon placed his many sons as heads of newly established branches of his company. But he remained the sole owner of the business until 1852, when his son
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898:
656:
Geoffrey Jones: ″Merchants to
Multinationals - British Trading Companies in the Nineteenth and Twentieth Centuries″, Oxford University PressOxford 2007, p.51,
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Geoffrey Jones: ″Merchants to Multinationals - British Trading Companies in the Nineteenth and Twentieth Centuries″, Oxford University PressOxford 2007, p.41,
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436:. Although now fully controlled by Rowe Rudd, David Sassoon & Co continued to operate independently from an office in Haymarket in London's West End.
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Vijay K. Seth: "Ascent and Decline of native and colonial Trading - Tale of Four Indian Cities", SAGE Publications India Pvt Ltd., New Delhi 2019, p.50,
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until his own death in 1926. With Gubbay ended the direct involvement of the Sassoon family in the management of David Sassoon & Co..
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Paul H. Emden: "Money Powers of Europe in the Nineteenth and Twentieth Centuries", D. Appleton-Century Company, New York 1938, S. 381.
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425:(1888–1939) participation in the management of the company as chairman was only nominal although he held on holding shares in it.
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Stanley Jackson: ″The Sassoons - Portrait of a Dynasty″, Second Edition, William Heinemann Ltd., London 1989, pp.19 and 30,
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Stanley Jackson: ″The Sassoons - Portrait of a Dynasty″, Second Edition, William Heinemann Ltd., London 1989, p.48 and 51,
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417:, was the dominant person in the company. After Frederick Sassoon's death 1917 David Gubbay (1865–1928), a cousin, became
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38:
553:
David Faure (Editor): "Society - A Documentary History of Hong Kong", Hong Kong University Press, Hong Kong 1997, p.125,
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Stanley Jackson: ″The Sassoons - Portrait of a Dynasty″, Second Edition, William Heinemann Ltd., London 1989, p.219,
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Stanley Jackson: ″The Sassoons - Portrait of a Dynasty″, Second Edition, William Heinemann Ltd., London 1989, p.119,
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Stanley Jackson: ″The Sassoons - Portrait of a Dynasty″, Second Edition, William Heinemann Ltd., London 1989, p.140,
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Peter Stansky: ″Sassoon - The worlds of Philip and Sybil″, Yale University Press, New Haven/ London 2003, p.19-21,
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in Bombay which helped establishing the international trade with Indian Cotton. In 1883 the company moved into the
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Jonathan Goldstein (Editor): "The Jews of China", Volume One, M.E. Sharpe Publisher, Armonk/ London 1999, p.145,
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Peter Stansky: ″Sassoon - The worlds of Philip and Sybil″, Yale University Press, New Haven/ London 2003, p. 5;
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Madhavi Thampi: "India and China in the Colonial World", Social Science Press, London/ New York 2017, p.40;
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But David Sassoon & Co. did also develop further. In 1872 it moved its head office from Bombay to
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Opium Traders and Their Worlds-Volume Two: A Revisionist Exposé of the World's Greatest Opium Traders
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Under Sir Edward Sassoon's leadership David Sassoon & Co. was in 1901 incorporated as a
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Stanley Chapman: "The Rise of Merchant Banking", Routledge, London/ New York 2006, p.135,
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Twentieth Century Impressions of Hong-Kong, Shanghai, and other Treaty Ports of China
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was established in 1889 it was principally funded by David Sassoon & Co.,
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operating in the 19th century and early 20th century predominantly in
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The Sassoons - The Great Global Merchants an the Making of an Empire
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1.25m to £1.5m) as the nominal capital of David Sassoon & Co. (
73:, bought by the Shanghai branch of David Sassoon & Sons in 1861
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As David Sassoon & Co. expanded it set up branches in India (
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succeeded his father and subsequently passed the business on to
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254:(1818–1896) joined him as a partner, followed by his second son
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359:" in 1865 and was also instrumental in setting up in 1873 the "
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80:(in the early years called ″David Sassoon & Sons″) was a
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one of its principal business interests for a long time.
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there. In 1875, the David Sassoon & Co. built the
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Offices of David Sassoon & Co at Shanghai in 1908
152:. But by that time it specialised in trading Indian
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698:. London: Lloyd's Greater Britain Pub. Co. p.
339:, a company which operated steamers plying between
409:Upon Sir Edward Sassoon's death in 1912 his uncle
869:"The Worlds most powerful and exclusice fortunes"
439:Eventually David Sassoon & Co was sold to
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8:
357:Hong Kong & Shanghai Banking Corporation
283:its capital was two to three times as much (
640:, Routledge, London/ New York 2006, p.131,
69:The steamliner "Chusan", built in 1851 for
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329:Norwich Union Fire Insurance Society Ltd.
1304:Trading companies of the United Kingdom
859:, Pantheon Books, New York 2022, p. 286
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195:), in Hongkong (est. 1843), in China (
7:
1294:Indian companies established in 1832
327:, for example in Hong Kong for the ″
120:. The company was set up in a small
33:David Sassoon (seated) and his sons
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1319:History of foreign trade in China
413:(1853–1917), the youngest son of
164:. The latter was promoted by the
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258:(1820–1880) shortly afterwards.
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78:David Sassoon & Co., Ltd.
18:David Sassoon, Sons & Co.
638:The Rise of Merchant Banking
61:Aerial view of Sassoon Docks
1057:Jardine, Matheson & Co.
377:J. Henry Schröder & Co.
361:Anglo-California Bank, Ltd.
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998:Augustine Heard & Co.
778:. iUniverse. p. 27.
493:History of opium in China
488:List of trading companies
383:Sir Albert Sassoon, Bart.
1118:Robert Morrison Olyphant
363:" (Later bought by the "
207:(est. 1845)), in Japan (
1180:David Sassoon & Co.
1166:Shewan, Tomes & Co.
692:Wright, Arnold (1908).
411:Frederick David Sassoon
369:Imperial Bank of Persia
310:, the first commercial
1324:Jewish Chinese history
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277:E.D. Sassoon & Co.
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423:Sir Philip Sassoon's
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172:in 1842 between the
104:Established 1832 in
1199:Elias David Sassoon
391:Joint-stock company
333:RSA Insurance Group
256:Elias David Sassoon
1108:Olyphant & Co.
1080:Magniac & Co.
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591:978-0-19-829450-4
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