WAGG , British family of stockbrokers and merchant bankers. This prominent English financial dynasty was founded by john wagg (1793–1878), a German Jewish immigrant who began the family City of London stockbroking firm of Helbert, Wagg & Co. in 1823. Wagg was a relative of the *Rothschilds and acted as their stockbrokers. His sons arthur wagg (1842–1919) and edward wagg (1843–1933) developed the firm into a merchant bank dealing with the distribution and arbitrage of international securities. The firm was notable for treating its staff well, introducing a pioneering pension scheme. Arthur's son alfred ralph wagg (1877–1969) served as chairman of the firm from 1922 until 1954. In 1962 Helbert, Wagg merged with the famous non-Jewish City merchant bank J. Henry Schroder & Co. to form J. Henry Schroder, Wagg & Co. In 2000 Citigroup, the American bank, acquired the firm, renaming it Citigroup Global Market Ltd.
odnb online; R. Roberts, Schroders: Merchants and Bankers (1992).
[William D. Rubinstein (2nd ed.)]