From its origins in 1889, Law Debenture has diversified to become a group with a unique range of activities in the financial and professional services sectors
The Law Debenture Corporation was founded
The Law Debenture Corporation was founded as a limited company to facilitate the issue of corporate debentures. Since its inception, Law Debenture’s share capital has always been listed on the London Stock Exchange,
The Corporation was established by a group of prominent businessmen, politicians and lawyers, with many of the founders of leading professional firms appearing on the list of original shareholders. This list includes Edwin Waterhouse of Price Waterhouse, now pwc. Within a few years of foundation, the Corporation commenced its activities as a trustee and today still remains trustee of a perpetual debenture stock issued by Merchants Trust in 1889.
Law Debenture took on its first overseas trusteeship for a Japanese company, Kansai Railway Company Limited. This was soon followed by trusteeships for ventures in Argentina, Australia, Brazil, Egypt, India, Mexico, USA and Venezuela.
By 1963 Law Debenture had 130 trusteeships, and the following year undertook its first Eurobond trusteeship. The rapid development of the Euromarkets enabled Law Debenture to build upon its international experience and establish itself as the leading trustee in this area.
Law Debenture takes on its first pension scheme trusteeship.
Recognising the needs of both the local community and foreign entities doing business in Hong Kong and mainland China, Law Debenture opens its Hong Kong office and to this day continues to provide fiduciary services to individuals, large and small companies, multilateral agencies and national governments.
It was decided that Law Debenture's investments should be separately managed, and independent investment managers, Touche, Remnant & Co. were appointed on a discretionary basis. Touche, Remnant & Co were later acquired by Henderson Administration, who now under the guise of Janus Henderson, continue to manage our portfolio of assets.
The Law Debenture Group divided into two distinct complementary areas of business; The investment trust and the independent fiduciary services business.
The Law Debenture Trust Corporation p.l.c., a wholly owned subsidiary, was formed to conduct the group's trustee business. Law Debenture's unique position has enabled it to play a significant part in the growth and development of the international financial markets.
It has been involved in many innovative types of financing including the first mortgage-backed Eurobond issue in 1964, the first repackaging of bonds in the Euromarkets, the first property securitisation in the United Kingdom, and was been appointed trustee in connection with the Eurotunnel financing
Recognising the growing requirement for independent pension fund trustees, Richard Thomas formally started the pension trustee business which has now been providing services to some of the largest pension schemes in the country for over 20 years.
Law Debenture began providing corporate services to Special Purpose Vehicles and the Jersey office was opened.
Law Debenture opened an office in New York
Law Debenture formed two new companies to provide services to the US market. Law Debenture Trust Company of New York is chartered by the New York State Department of Banking and provides independent corporate trust services, including successor trustee services. Law Debenture Corporate Services Inc. provides services as an agent to receive process in legal proceedings.
Delaware Corporate Services Inc. (“DCS”), originally formed in 1986 as a subsidiary of Morris, James, Hitchens & Williams LLP, was acquired by the Law Debenture Group.
Safecall, The Whistleblowing Company, became a subsidiary of the Law Debenture group. Safecall was established in 1999 when whistleblowing was in its infancy and is now a leading provider of ethics telephone hotlines and online reporting systems to organisations worldwide.
Law Debenture (Ireland) Limited established a new office in Dublin. The office provides a wide range of services including corporate trust and agency, corporate services and process agent. Dublin has long been a significant financial services hub and the opening of the new office allows us to take advantage of the opportunities in Ireland as well as help mitigate possible difficulties as the UK negotiates its exit from the European Union.