Bank of Saint George

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Bank of Saint George
Bank of Saint George (Casa delle compere e dei banchi di San Giorgio)
Former type Successor(s) Subsidiary Banco di San Giorgio S.p.A. in 1987 • • • • Founded Defunct 1407 1805 Subsidiary of Credito Agrario Bresciano in 1992 Subsidiary of Banca Lombarda in 1999 Subsidiary of UBI Banca in 2007 Merged with Banca Regionale Europea,Subsidiary of UBI Banca, in 2012.

Headquarters Genoa, Italy Products Parent Website Retail and investment banking UBI Banca www.bancodisangiorgio.it [1]

The Bank or Company of Saint George (Italian: Banco or Ufficio di San Giorgio, officially Casa delle compere e dei banchi di San Giorgio[2]) was a financial institution of the Republic of Genoa. Founded in 1407,[3] it was one of the oldest chartered banks in Europe, if not the world. The bank's headquarters were at the Palazzo San Giorgio, which was built in the 13th century by order of Guglielmo Boccanegra, uncle of Simone Boccanegra, the first Doge of Genoa.

Organization
The Palace of Saint George in Genoa. A number of prominent Genoese families were involved in the establishment and governance of the Bank, including the Houses of Grimaldi & Serra. Unusually for its time, the Bank made use of a number of Jewish agents, including the Ghisolfi clan that managed certain possessions around the Black Sea.

The Bank was governed by four consuls who administered its finances and directed investments.[4] Because the Republic's ruling oligarchs were normally prominent in Bank politics, it is often difficult to determine where the Bank's influence ended and the Republic's began.[5]

Bank of Saint George

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Operations
Many of Genoa's overseas territories were governed either directly or indirectly by the Bank. In 1453 the Republic handed over governance of Corsica, Gazaria, and a number of other possessions to Bank officials, though over the course of the fifteenth century the Republic gradually reclaimed many of its territories from Bank control.[6] The Taman peninsula remained in the control of the de Ghisolfi family, but the princes of that clan now reported to the Bank. The Bank lent considerable sums of money to many rulers throughout Europe during the fifteenth and sixteenth centuries, gaining widespread influence. Ferdinand and Isabella maintained accounts there, as did Crimea in the middle of the 15th century; Christopher Columbus. Before leaving for his fourth voyage, Genoese colonies shown in red. Columbus wrote a letter to the Governors of the Bank of St. George, Genoa, dated at Seville, 2 April 1502.[7] He wrote "Although my body is here my heart is always near you."[8] Charles V was heavily in debt to the Bank during much of his reign. Niccolò Machiavelli writes in book VIII, chapter VI of the Istorie Fiorentine: This establishment presents an instance of what in all the republics, either described or imagined by philosophers, has never been thought of; exhibiting within the same community, and among the same citizens, liberty and tyranny, integrity and corruption, justice and injustice; for this establishment preserves in the city many ancient and venerable customs; and should it happen (as in time it easily may) that the San Giorgio should have possession of the whole city, the republic will become more distinguished than that of Venice.[9] In the seventeenth century the Bank became heavily involved in maritime trade, and for a time competed with such concerns as the Dutch East India Company and the English East India Company. After Napoleon invaded Italy, he suppressed independent banks, and this led to the Bank's closure in 1805.[10]

Contemporary History
Banco di San Giorgio S.p.A. 1987–2012
In 1987, the Banco di San Giorgio is back to live again in a new bank that bears the same name. In 1992 he entered in the group Credito Agrario Bresciano initially merged in 1999 in the Banca Lombarda and in 2007 in the UBI Banca Group. On October 22, 2012 merged with the Banca Regionale Europea that has thus acquired all its branches. The last Chairman of the Board of Directors was Riccardo Garrone.

Sources
• Gevurtz, Franklin A. "The Historical and Political Origins of the Corporate Board of Directors." [11] The Berkeley Electronic Press, 2004. • Kirk, Thomas A. (2005). Genoa and the Sea: Policy and Power in an Early Modern Maritime Republic, 1559-1684. The Johns Hopkins University Studies in Historical and Political Science. Baltimore, MD: Johns Hopkins Univ. Press. ISBN 0-8018-8083-1. • Tai, Emily (2004). "Restitution and the Definition of a Pirate: The Case of Sologrus de Nigro". Mediterranean Historical Review 19 (2): 34–70. doi:10.1080/0951896052000336436 [12].

Bank of Saint George • Giuseppe Felloni [13] and Guido Laura, Genoa and the history of finance: A series of firsts? 9th November 2004, ISBN 88-87822-16-6 (the book can be downloaded at www.giuseppefelloni.it)

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References
[1] http:/ / www. bancodisangiorgio. it/ [2] Casa delle compere e dei banchi di San Giorgio (http:/ / www. lacasadisangiorgio. it/ ) [3] George Macesich, Issues in money and banking (http:/ / books. google. com/ books?id=h-5jG8hR-qQC& pg=PA42& dq=bank+ saint+ george+ genoa+ 1407& as_brr=3), p42. Greenwood Publishing, 2000. ISBN 978-0-275-96777-2 [4] Gevurtz __. [5] Kirk 50-51. [6] Kirk 48. [9] http:/ / www. gutenberg. org/ files/ 2464/ 2464-h/ 2464-h. htm#2HCH0056 [10] Vincent Boland, "Banking: The first chapter", FT Magazine, 18 April 2009 [11] http:/ / law. bepress. com/ cgi/ viewcontent. cgi?article=1762& context=expresso [12] http:/ / dx. doi. org/ 10. 1080%2F0951896052000336436 [13] http:/ / www. giuseppefelloni. it

External links
• http://www.lacasadisangiorgio.it/- official archives of the House and Bank of St. George (Italian)

Article Sources and Contributors

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Article Sources and Contributors
Bank of Saint George  Source: http://en.wikipedia.org/w/index.php?oldid=551810818  Contributors: Attilios, Austriacus, Bender235, Briangotts, C.Fred, Conte di Cavour, D6, Edward321, Elonka, Eneasmarquez, FA2010, Fayenatic london, Ghirlandajo, Gogo Dodo, GrahamHardy, Greenshed, Guidouk, Hurratolat, Janurah, Jaraalbe, Jpbowen, Lele giannoni, Marsal20, MrsKrishan, Nick Number, Od Mishehu, PedroMRP, Rjwilmsi, Robyc73, Srnec, 17 anonymous edits

Image Sources, Licenses and Contributors
File:Palazzo San Georgio Genova W.jpg  Source: http://en.wikipedia.org/w/index.php?title=File:Palazzo_San_Georgio_Genova_W.jpg  License: Public Domain  Contributors: Jensens File:Caffa and Theodoro.PNG  Source: http://en.wikipedia.org/w/index.php?title=File:Caffa_and_Theodoro.PNG  License: Public Domain  Contributors: AjaxSmack, Berillium, Don Alessandro, Rursus, Snek01, А.Крымов

License
Creative Commons Attribution-Share Alike 3.0 Unported //creativecommons.org/licenses/by-sa/3.0/

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