Louis Huth - Early Life and Business Career

Early Life and Business Career

Louis Huth was born at Finsbury in Greater London, the son of Frederick Huth (1774-1864), a merchant and merchant banker born in Germany, who 'came of very humble origins, the son of a soldier, with only his intelligence and appetite for hard work to single him out from other poor boys at the bottom of the social heap in the small village of Harsefeld in the Electorate of Hanover.' After an apprenticeship to a Spanish merchant in Hamburg, Huth eventually established a business in Corunna, Spain, where he met his wife, an orphan believed to be the daughter of a prominent member of the Spanish Royal court. In 1809, following the invasion of Spain by France, Frederick and his wife and children emigrated to England from Spain and established the family merchant house in London. By 1829 Huth had become the banker and financial adviser to the Spanish Queen, Maria Christiana, later Queen Regent, and in due course became financial agent for the Spanish government, for which Huth was rewarded with a knighthood by the Spanish crown. Gradually Huth and Co expanded its business in Europe, particularly Germany, and extended its operations to the Americas, becoming a major accepting house concerned with financing international trade and marketing securities; and by the end of the 1840s the Huths ranked ‘immediately below such companies as Barings and Rothschilds.’ It has been stated that Frederick ‘Huth’s reputation was second to none. Notwithstanding his small, slight stature, he had great presence had been known as ‘Napoleon of the City’’. The firm, which operated from various premises, latterly 12 Tokenhouse Yard in the City of London (which in due course became the office of the famous stockbroking firm Cazenove & Co), was eventually wound up in 1936, with the partnership of Frederick Huth and Co being dissolved and the business absorbed into the British Overseas Bank Limited (which in turn was itself merged into the Royal Bank of Scotland).