Deputy Director, Museum of American Finance
New York, NY – On Wednesday, December 12, 2012, the Museum of American Finance will open “Barings in America: An Interactive Investment Experience” to commemorate the 250th anniversary of the founding of Barings Bank, one of the most esteemed and important banks in history.
From its founding in the 18th century to its unforeseen demise in the 20th, Barings provided investment capital to many famous historical ventures, including the Louisiana Purchase in 1803 and the development of the North American railroad network during the 19th century. Barings saw its share of both tremendous gains and miscalculated debacles. After unauthorized trading by an employee lost the bank £827 million ($1.3 billion) in 1995, Barings collapsed. The bank’s legacy now lives on through The Baring Archive.
“Barings in America” will provide engaging details about Barings’ significant US investments and their contributions to the growth of the nation and its industry. Designed as an investment game with a mobile component, visitors will be invited to participate in five of the bank’s American investments. With unprecedented access to The Baring Archive, visitors will utilize the same documents used by Barings to evaluate each historic investment. Based on information provided in the exhibit, the visitors will decide whether to invest in each venture and compete against the investment performance of other visitors and the bank.
ING U.S. is the lead sponsor of this exhibit. Associate sponsors include Bank of America Merrill Lynch, Citi, Ernst & Young and Sullivan & Cromwell LLP. “Barings in America” will be on view through April 27, 2013.
Opening Reception: The Museum will host a private reception to open this exhibit on Wednesday, December 12, 2012, from 6:00-8:00 pm. For media access, please contact the Museum’s Deputy Director, Kristin Aguilera, at firstname.lastname@example.org or 212-908-4695.
About the Museum of American Finance
The Museum of American Finance is the nation’s only public museum dedicated to preserving, exhibiting and teaching about American finance and financial history. With its extensive collection of financial documents and objects, its seminars and educational programming, its publication and oral history program, the Museum portrays the breadth and richness of American financial history, achievement and practices. The Museum is located at 48 Wall Street, on the corner of William Street, and is open Tues–Sat, 10 am – 4 pm.
About The Baring Archive
The Baring Archive is one of the finest archives of a financial institution in the world. In 2008 The Baring Archive Ltd was established by ING (which had acquired Barings in 1995) as a charitable company in order to manage the archive and develop its use as an educational resource.