Tornquist, Ernesto (1842–1908)

Ernesto Tornquist (b. 31 December 1842; d. 17 June 1908), founder of one of the first and most important industrial investment banks in Latin America. Tornquist played a major part in the financial development of Argentina in the last quarter of the nineteenth century. Born in Buenos Aires into a mercantile family of Swedish origin, he studied in a German-speaking school and entered the family firm of Altgelt, Ferber, and Co. in 1859. In 1874 he became the senior partner in the firm, which was henceforth called Ernesto Tornquist and Co. The history of the company was marked by steady growth over fifty years, leading the way in Buenos Aires in the fields of international and industrial finance. Tornquist and Co. was the agent for Baring Brothers in Buenos Aires from the 1880s until 1902, as well as representative for prominent Belgian, German, and French banks. Tornquist personally promoted the establishment of the first sugar refinery in Argentina, established in the city of Rosario in 1887; the largest Argentine meatpacking firm, the Sansinena Company; and several of the first metallurgical and chemical firms in the Argentine capital. He was a close financial adviser to the governments of Julio Roca, Carlos Pellegrini, and other conservative leaders at the turn of the century, participating in most of the important monetary and financial reforms of the time. His firm today is a prominent commercial bank in Buenos Aires.

See alsoArgentina: The Nineteenth Century; Banking: Overview.

BIBLIOGRAPHY

Ernesto Tornquist & Co., 1874–1924 (1924).

Additional Bibliography

Gallo, Ezequiel. Carlos Pellegrini: Orden y reforma. Buenos Aires: Fondo de Cultura Económica, 1997.

Gilbert, Jorge. Empresario y empresa en la Argentina moderna: El Grupo Tornquist, 1873–1930. Victoria, Pcia. de Buenos Aires: Universidad de San Andrés, 2002.

                                          Carlos Marichal