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Investing for Generations

A History of the Alliance Trust

Charles Munn

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A full history of this Dundee-based financial institution, one of Scotland's finest

This history of the Alliance Trust, one of Scotland's oldest and most interesting companies and the UK's largest general investment fund, is a story of flexibility, patience, careful management and acting in the best interests of shareholders.

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1. Setting the Scene
2. Before the Alliance (1873–1889)
3. The Early Years (1888–1892)
4. Globalisation and Depression (1893–1914)
5. The First World War (1914–1918)
6. From Mortgage Company to Investment Trust (1918–1939)
7. The Second World War (1939–1945)
8. The McCurrach Years (1945–1980)
9. Resurgence and Innovation (1980–1996)
10. Growth and Instability (1996–2012)
Appendix 1 The Pre-Alliance Balance Sheets
Appendix 2 Balance Sheets

About the Author

Charles Munn is the current chairman of the Customer Contact Association Academy. He is also a lay member of the Investigations and Professional Enforcement Committee of the Institute of Chartered Accountants of Scotland. He is an honorary professor in the universities of Dundee, Stirling, Glasgow and West of Scotland where he gives lectures on business ethics. He received the OBE in 2005 for services to banking.