LÁNCZY, LEÓ

LÁNCZY, LEÓ (1852–1921), Hungarian economist and banker, a younger brother of the historian Gyula Lánczy;\>\> like him he converted to Christianity. Born in Pest, Lánczy joined the Anglo-Hungarian Bank. In 1879, he became director general of the Hungarian General Real Estate Loan Company and in 1881 of the Hungarian Commercial Bank. Mainly through his endeavors, this financial institution expanded its relations with the Balkan countries and became a decisive factor in Hungary's economy. The bank also contributed financially to the development of the city of Budapest, including the financing of its telephone system, and acquired major interests in an important shipping company and in local railroad communications. Lánczy organized the Hungarian mortgage credit abroad, and endeavored to establish Hungarian banking and credit facilities that would be independent of Vienna. He was a director of numerous industrial companies, and was honored for his services in promoting the Millennium Exhibition. In 1893 he was elected president of the Budapest Chamber of Commerce and Industry. From 1893 he served in Parliament, where his speeches on economic and financial problems attracted attention. In 1905 he was nominated to the Upper Chamber. In 1912 he became privy councillor. His articles appeared in the Neue Freie Presse, Pester Lloyd, and Honi Ipar. -BIBLIOGRAPHY: E. Makai, Huszonöt év a magyar közgazdaság terén: Lánczy Leó munkássága, beszédei és dolgozatai (1907); Pesti Magyar Kereskedelmi Bank 1841–1941. Száz esziendő emlékei (1941), 66–76. (Joachim O. Ronall)