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Julius Strauss

19 Jun 2003

Julius Strauss, founder of Strauss Turnbull, was a legendary salesman, a champion of Eurobond syndication and distribution, and a pioneer in the development of the secondary market.

Although Strauss Turnbull no longer exists - it is now part of SG and only a fraction of its London office would know who Strauss was - he will be best remembered for coining the term Eurobond.

The deal that gave birth to the name - the July 1963 Autostrade issue which effectively became the first internationally syndicated Eurodollar bond - needed some kind of definition to help sell it. The word 'bond' alone didn't seem enough and Strauss thought that elements of the Swiss investor base that Strauss Turnbull sold to needed something more to give it pizzazz. "We wanted to replace the term 'foreign dollar bond' with something that would show the "'Europeanisation' of the issue," Strauss said later.

Strauss Turnbull was one of the two London stockbrokers that arranged for the Autostrade issue to be listed on the London Stock Exchange.

19 Jun 2003