Up to the beginning of the 20th century stocks were primarily owned by wealthy private individuals. Now, 100 years later, institutional investors hold almost twice the amount. They have 112trn assets under management (AUMs) compared to the 72,3trn that were held by High-Net-Worth-Individuals in...

The haute banque emerged as an elite or sub-category of private banks in France during the Restauration (1815 – 1830) and reached its climax in the 1850s and 1860s. These institutions were well respected and dealt with major international businesses which also had business with the State....