Leó Lánczy
Leó Lánczy (Pest, May 10, 1852 - Budapest, Terézváros, January 26, 1921) was a bank president.
Family, origin
His father was a successful merchant in Pest under the name Lazarovits Wolf, and in 1861 he changed his name to Adolf Lánczy. A talented man, he was able to provide a high level of education for his sons (Leo, Gyula) and daughter. His mother was Katalin Pollák. Gyula Lánczy became a scientist and professor of history at the Budapest University of Sciences. The younger son, Leo, was sent by his father to a real school. From 1866 he became a student at the Budapest Academy of Commerce, but after two years he left school and joined the firm of Latzko and Gomperg.
His career
Lánczys was recruited to the Anglo-Hungarian Bank, founded in 1868, where he quickly rose through the ranks. By the age of 20 he was already head of the accounting department. He travelled between the bank's Budapest branch and its London headquarters and studied more than at any university. The financial crisis of 1873 ruined the Anglo-Hungarian Bank, and the parent company closed its Budapest branch.
After joining the Hungarian General Land Loan Company, he became its CEO. He persuaded the French owners to allow the merger of the joint-stock company with the Hungarian Commercial Bank of Pest, which was struggling to recover from the crisis, so that they could acquire a financial institution with a long history. Once this was done, in 1881, he became CEO and then President of the Pesti Hungarian Commercial Bank. It was here that his talent for economics developed. He established Hungarian pawnbroking abroad, made Hungarian banking and credit completely independent of Vienna, and rapidly promoted Hungarian construction and enterprise. In 1916, there were 16 branches of the Commercial Bank in the capital city alone, and in 1916 alone, there were 16 branches in the capital. The capital raised through foreign bond issues financed the railway construction projects announced in the programmes of the Hungarian Local Railway Company, the Budapest Municipal Electric Railway Company and the Budapest Road Railway Company. Lánczy also provided the financial conditions for the Budapest telephone network: in 1886, he rushed to the aid of the dying Puskás Tivadar and Tsai company with a loan of half a million forints, and then financed the loss-making company until 1897, at the request of Minister Baross. The most significant achievement, however, was that the Hungarian Commercial Bank of Pest accumulated capital and deposits that enabled it to boost Budapest's industry and trade through lending. During the First World War, Ferenc Heinrich was the organiser of the war economy.
Of his economic activities, the establishment of large industrial enterprises, the creation of the Local Interest Railway, the creation of municipal bonds and the establishment of the Customs Policy Centre are particularly noteworthy. For decades, he published his reports on the state of the economy in the Pester Lloyd.
He participated in the construction of the Vígszínház. The loan for the purchase of the land and the construction was provided by three banks, whose CEOs - Kálmán Széll, Leó Lánczy and Sándor Deutsch Hatvani - sat on the board of the Vígszínház Részvénytársaság.
The grave of Leó Lánczy in Budapest. Kerepesi cemetery: 19/1-1-2. Sculpture by Ede Telcs.
Public activities and awards
For his merits he was elected President of the Budapest Chamber of Commerce and Industry in 1893. In 1901, the Chamber built a new headquarters in the vicinity of the Parliament building on Constitution Street, which today houses the Ministry of Economy. In 1893, he was elected as a member of Parliament in the district of Chacai in a by-election. In the elections of 1896 he was elected from the northern district of Miskolc. Until the 1901 elections, he was a member of parliament for the Liberal Party. In the legislature he stayed away from political battles, using his mandate to promote the interests of trade.
He later gained the title of court councillor, became a member of the House of Lords in 1905, later a member of the delegation, and in 1912 a de facto privy councillor.
His tomb is in the Kerepesi cemetery, by Ede Telcs. Grave inscription: "His work and his successful life were a triumph of diligence and work. His blessed memory will be cherished with love and devotion."
Sources
- Hungarian Jewish lexicon. Ed. Péter Ujvári. Hungarian Jewish Encyclopedia. 1929. p. 521.
- Hungarian biographical lexicon
- Budapest Quarter 25. The Kerepesi Cemetery.
- Zoltán Szatucsek: "The greatest economist of Pest's heyday". One hundred and fifty years ago, Leó Lánczy, bank manager and president of the Chamber of Commerce and Industry, was born. Népszabadság, 10 May 2002.
- Hungarian Theatre History Volume 1 1790-1873; Volume 2 1873-1920; Published by the National Theatre History Museum and Institute, 1990-2001
Source: wikipedia
Born: 1852.05.10
Place of birth: Pest
Date of death: 1921.01.26
Place of death: Budapest
Occupation: bank president
Parents: Adolf Lánczy (Wolf Lazarovits), Katalin Pollák
Spouses:
Children:
Author:
Born: 1852.05.10
Place of birth: Pest
Date of death: 1921.01.26
Place of death: Budapest
Occupation: bank president
Parents: Adolf Lánczy (Wolf Lazarovits), Katalin Pollák
Spouses:
Children:
Author:
Leó Lánczy
Leó Lánczy (Pest, May 10, 1852 - Budapest, Terézváros, January 26, 1921) was a bank president.
Family, origin
His father was a successful merchant in Pest under the name Lazarovits Wolf, and in 1861 he changed his name to Adolf Lánczy. A talented man, he was able to provide a high level of education for his sons (Leo, Gyula) and daughter. His mother was Katalin Pollák. Gyula Lánczy became a scientist and professor of history at the Budapest University of Sciences. The younger son, Leo, was sent by his father to a real school. From 1866 he became a student at the Budapest Academy of Commerce, but after two years he left school and joined the firm of Latzko and Gomperg.
His career
Lánczys was recruited to the Anglo-Hungarian Bank, founded in 1868, where he quickly rose through the ranks. By the age of 20 he was already head of the accounting department. He travelled between the bank's Budapest branch and its London headquarters and studied more than at any university. The financial crisis of 1873 ruined the Anglo-Hungarian Bank, and the parent company closed its Budapest branch.
After joining the Hungarian General Land Loan Company, he became its CEO. He persuaded the French owners to allow the merger of the joint-stock company with the Hungarian Commercial Bank of Pest, which was struggling to recover from the crisis, so that they could acquire a financial institution with a long history. Once this was done, in 1881, he became CEO and then President of the Pesti Hungarian Commercial Bank. It was here that his talent for economics developed. He established Hungarian pawnbroking abroad, made Hungarian banking and credit completely independent of Vienna, and rapidly promoted Hungarian construction and enterprise. In 1916, there were 16 branches of the Commercial Bank in the capital city alone, and in 1916 alone, there were 16 branches in the capital. The capital raised through foreign bond issues financed the railway construction projects announced in the programmes of the Hungarian Local Railway Company, the Budapest Municipal Electric Railway Company and the Budapest Road Railway Company. Lánczy also provided the financial conditions for the Budapest telephone network: in 1886, he rushed to the aid of the dying Puskás Tivadar and Tsai company with a loan of half a million forints, and then financed the loss-making company until 1897, at the request of Minister Baross. The most significant achievement, however, was that the Hungarian Commercial Bank of Pest accumulated capital and deposits that enabled it to boost Budapest's industry and trade through lending. During the First World War, Ferenc Heinrich was the organiser of the war economy.
Of his economic activities, the establishment of large industrial enterprises, the creation of the Local Interest Railway, the creation of municipal bonds and the establishment of the Customs Policy Centre are particularly noteworthy. For decades, he published his reports on the state of the economy in the Pester Lloyd.
He participated in the construction of the Vígszínház. The loan for the purchase of the land and the construction was provided by three banks, whose CEOs - Kálmán Széll, Leó Lánczy and Sándor Deutsch Hatvani - sat on the board of the Vígszínház Részvénytársaság.
The grave of Leó Lánczy in Budapest. Kerepesi cemetery: 19/1-1-2. Sculpture by Ede Telcs.
Public activities and awards
For his merits he was elected President of the Budapest Chamber of Commerce and Industry in 1893. In 1901, the Chamber built a new headquarters in the vicinity of the Parliament building on Constitution Street, which today houses the Ministry of Economy. In 1893, he was elected as a member of Parliament in the district of Chacai in a by-election. In the elections of 1896 he was elected from the northern district of Miskolc. Until the 1901 elections, he was a member of parliament for the Liberal Party. In the legislature he stayed away from political battles, using his mandate to promote the interests of trade.
He later gained the title of court councillor, became a member of the House of Lords in 1905, later a member of the delegation, and in 1912 a de facto privy councillor.
His tomb is in the Kerepesi cemetery, by Ede Telcs. Grave inscription: "His work and his successful life were a triumph of diligence and work. His blessed memory will be cherished with love and devotion."
Sources
- Hungarian Jewish lexicon. Ed. Péter Ujvári. Hungarian Jewish Encyclopedia. 1929. p. 521.
- Hungarian biographical lexicon
- Budapest Quarter 25. The Kerepesi Cemetery.
- Zoltán Szatucsek: "The greatest economist of Pest's heyday". One hundred and fifty years ago, Leó Lánczy, bank manager and president of the Chamber of Commerce and Industry, was born. Népszabadság, 10 May 2002.
- Hungarian Theatre History Volume 1 1790-1873; Volume 2 1873-1920; Published by the National Theatre History Museum and Institute, 1990-2001
Source: wikipedia