SETCo

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Corporate body

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SETCo

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        SETCo was incorporated on 16 October 1929, according to 'Wagtail' 1979, which contains an article about its 50th anniversary celebrations. Memoranndum (8 April 1960) from JHS/SETCO/00003152 : "Setco was formed in 1929 and the main reasons for its formation were (a) to relieve the Partners from the duty of acting as Trustee for private persons and clients of the Firm for which duty they would not expect remuneration and (b) to act as managers of securities, whether under a Settlement Deed or a simple Agency Agreement, so bring business to the Investment Department, for which Setco could make a charge, whereas, in those days, the Investment Department worked for nothing."

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