E.L. & C. Baillieu commenced business in 1889, some five years after the formation of the Stock Exchange of Melbourne Limited, and traded as the partnership “E.L. & C. Baillieu” for almost 100 years.
On 1 April, 1986, the partnership of E.L. & C. Baillieu ceased trading and was succeeded by E.L. & C. Baillieu Limited. This company was 60% owned by the former partners of the firm and 40% owned by N M Rothschild & Sons (Australia) Pty Ltd, a wholly owned subsidiary of N M Rothschild & Sons Limited of London.
On 16 July, 1997, Rothschild sold its shares back to the directors of E.L. & C. Baillieu Limited and in January 1998 the firm changed its name to E.L. & C. Baillieu Stockbroking Ltd (“Baillieu”) as part of a restructure which saw the corporate finance and institutional broking divisions of the business sold to Deutsche Bank.
In October 2006 Baillieu formed a strategic alliance with Credit Suisse and as a result Baillieu has been able to enhance its service offering to clients through broader research coverage and greater access to corporate fundraising.
F.W. Holst & Co Pty Ltd was established in 1893 when Frederick William Holst established a stockbroking business in Ballarat.
Baillieu Holst Ltd resulted from a merger of E.L. & C. Baillieu Stockbroking Ltd and F W Holst & Co Pty Ltd in November 2012.
Baillieu Family Background
The Baillieu family has been active in Australian business for over 100 years and has been closely associated with the development of a number of prominent Australian companies. The family formed North Broken Hill in 1895 and was associated with the formation of the Carlton & United Breweries group (now Fosters Group Limited).
In 1909, Mr W.L. Baillieu, in association with Messrs W.S. Robinson, Frances Govett and the American mining engineer and future president, Herbert Hoover, formed a company which developed the de Bavay floatation process of extracting metals from crushed ore.
The floatation system is now one of the major methods of treating mined ore to produce a concentrate for smelting. This process was vital for the continuing profitability of the Broken Hill ore bodies as it enabled zinc to be economically extracted. From this company, Amalgamated Zinc, came the Zinc Corporation, the forerunner of CRA Limited (now Rio Tinto Limited).
The Baillieu family was also closely involved with the establishment of Pacific Dunlop Limited, Western Mining Corporation, Associated Pulp & Paper Mills (the forerunner to Amcor) and Alcoa of Australia.
Holst Family Background
Having made the journey from Denmark in the 1850’s and after establishing his stockbroking business, F.W. Holst joined the Stock Exchange of Melbourne in 1909. His first partner was R.A. Rowe who later served as Chairman of the Stock Exchange of Melbourne from 1942 to 1954.
Three of F.W. Holst’s sons, Arnold, William Bruce and Edward, became members of the exchange. Of the next generation Richard (son of Arnold) and Adrian (son of Bruce) also became members. Adrian is still with the firm and has welcomed the merger with E.L. & C. Baillieu.