A Growing Business

A Growing Business

The 1960s were years of continuing expansion. A steady growth in the client base was matched by occasional small acquisitions; but in 1967, Gastrell & Co joined Charles Stanley, and the business nearly doubled in size.

1967 saw other changes too. Sir Seymour Howard, who had been made a baronet in 1955, remained senior partner until his death at the beginning of the year. The baton now passed to his son, Sir Edward Howard, and later in the same year Sir Edward's son David joined the firm from Oxford.

The extraordinary economic conditions of 1973-75 produced a rapid burst of consolidation amongst stockbroking firms. The acquisition of Gastrell & Co had already enlarged the business; now the partners determined to continue the process by careful acquisition of some of the better firms which were seeking strength in merger. These included Ransford & Co in 1974, Burtt, Jones, Ley & Gaskarth in 1975 and A J Pryor & Co in 1976. Some of these were themselves the result of earlier mergers of even more historic firms such as Boyes & Gaskarth, G S Herbert and Albery Lund. More firms followed: T T Curwen & Sons, Woollan & Co, and many groups of partners from firms which broke apart. The premises were expanded, and expanded again, as the number of partners and staff grew apace. Charles Stanley was no longer a tiny partnership but had blossomed into a substantial firm.

Sir Edward Howard, the senior partner, had already served as Sheriff of the City of London in 1966-67. In 1971 he was elected Lord Mayor, following in the footsteps of his father as first Citizen of London.

It was twelve years earlier that the Stock Exchange had begun to redevelop its site, and Charles Stanley had had to leave Throgmorton Street. This proved to be a massive rebuilding programme, hampered by the need to maintain a continuous market amongst the building works. Now the senior partner of Charles Stanley returned to the site of the firm's former office, where the new floor of The Stock Exchange was opened with great ceremony on 8th November 1972 by HM The Queen, accompanied by Sir Martin Wilkinson, the Chairman of The Stock Exchange, and the Lord Mayor of London - Sir Edward Howard.

Her Majesty The Queen at the opening of The Stock Exchange floor in 1972. Sir Edward Howard, then Lord Mayor of London, and Chairman of Charles Stanley is at the Queen's side. A copy of the original commemorative painting now hangs in our Luke Street offices.