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3i Fifty Years Investing in Industry$
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Richard Coopey and Donald Clarke

Print publication date: 1995

Print ISBN-13: 9780198289449

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780198289449.001.0001

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Bridging the Gap: 1945–1960

Bridging the Gap: 1945–1960

(p.29) Chapter 2 Bridging the Gap: 1945–1960
3i Fifty Years Investing in Industry

Richard Coopey

Oxford University Press

Despite the opposition of certain of its own shareholders and the difficult economic circumstances in which it was set up, Industrial and Commercial Finance Corporation (ICFC) was to prosper steadily throughout the 1950s and into the 1960s. This was in large part due to the often innovatory methods developed by a small, highly motivated team under the leadership of William Piercy, ICFC's first Chairman. Piercy believed in being an executive chairman, and devoted considerable energies to the everyday business of building ICFC up to become what he fervently hoped would be a great and lasting institution. In order to do this ICFC had to establish a modus operandi capable of identifying worthwhile enterprise and structuring financial packages accordingly.

Keywords:   ICFC, William Piercy, financial package, financial institutions, market forces, stock exchange

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