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Constructing Corporate Identity before the Corporation: Fashioning the Face of the First English Joint Stock Banking Companies through Portraiture

Published online by Cambridge University Press:  22 June 2017

VICTORIA BARNES
Affiliation:
Victoria Barnes is a researcher at the Max Planck Institute for European Legal History in Frankfurt am Main. She held a Law Fellowship at Georgetown University Law Center, in Washington DC, in 2016, and completed her PhD in legal history at the University of Reading, UK, in 2015. Victoria is working on the history of corporate and commercial law in a transnational and comparative framework. Max-Planck-Institut für europäische Rechtsgeschichte, Frankfurt am Main, Germany. E-mail: barnes@rg.mpg.de
LUCY NEWTON
Affiliation:
Lucy Newton is an associate professor in Business History in the School of International Business and Strategy, Henley Business School, University of Reading, UK. She was elected a trustee of the Business History Conference in 2003, serving until 2007, and was program chair of the BHC/EBHA Conference in Miami in 2015. Lucy was elected as council member of the Association of Business Historians (UK) in 1997, serving until 2000, and was elected again in 2013, serving until 2016. She has published her work on banks and, more recently, nineteenth-century consumer durables in a variety of business history journals. Henley Business School, University of Reading. E-mail: l.a.newton@henley.ac.uk

Abstract

This article considers how the joint-stock banks established trust within the local marketplace. We undertake a new investigation of pictures of senior bank management. Building on the expansion of the art market in the nineteenth century, joint-stock banks used portraits as a public and visual mechanism to commemorate their successes and accomplishments. Portraiture, as a well-established art form, provided enterprises with a historical legacy that for many did not, as yet, exist. Through the use of portraiture, banks attempted to solidify their identity and add to the sitter’s social standing, as well as signal the new organization’s reputation for high culture, prestige, and professionalism to those who viewed these artworks. These illustrations personified the company and gave a human face to the early joint-stock economy.

Type
Articles
Copyright
Copyright © The Author 2017. Published by Cambridge University Press on behalf of the Business History Conference. All rights reserved. 

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References

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Bailey, Cheryl. “The Circular to Bankers.” Bulletin: Newsletter from the European Association of Business Historians 1999, no. 2: 2021.Google Scholar
Baker, Michael J., and Balmer, John M. T.. “Visual Identity: Trappings or Substance?” European Journal of Marketing 31, no. 5/6 (June 6, 1997): 366382. doi:10.1108/eb060637.Google Scholar
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Bickerton, David. “Corporate Reputation versus Corporate Branding: The Realist Debate.” Corporate Communications: An International Journal 5, no. 1 (March 1, 2000): 4248. doi:10.1108/13563280010317578.Google Scholar
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Carnevali, Francesca. “Between Markets and Networks: Regional Banks in Italy.” Business History 38, no. 3 (July 1, 1996): 84100. doi:10.1080/00076799600000096.Google Scholar
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Freeman, Mark, Pearson, Robin, and Taylor, James. “Law, Politics and the Governance of English and Scottish Joint-Stock Companies, 1600–1850.” Business History 55, no. 4 (June 1, 2013): 636652. doi:10.1080/00076791.2012.741971.Google Scholar
Garnett, Philip, Mollan, Simon, and Alexander Bentley, R.. “Complexity in History: Modelling the Organisational Demography of the British Banking Sector.” Business History 57, no. 1 (January 2, 2015): 182202. doi:10.1080/00076791.2014.977876.CrossRefGoogle Scholar
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Griffey, Erin, and Jackson, Brad. “The Portrait as Leader: Commissioned Portraits and the Power of Tradition.” Leadership 6, no. 2 (May 1, 2010): 133157. doi:10.1177/1742715010363207.Google Scholar
Guthey, Eric, and Jackson, Brad. “CEO Portraits and the Authenticity Paradox.” Journal of Management Studies 42, no. 5 (July 1, 2005): 10571082. doi:10.1111/j.1467-6486.2005.00532.x.Google Scholar
Hansen, Per H. “Organizational Culture and Organizational Change: The Transformation of Savings Banks in Denmark, 1965–1990.” Enterprise & Society 8, no. 4 (December 2007): 920953. doi:10.1017/S1467222700006492.Google Scholar
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