The Gresham, Budapest

This is another example like the Chain Bridge of both the Austro-Hungarian Empire and the British 19th Century commercial empire.

In 1880, the London-based Gresham Life Assurance Company bought the neo-classical building on this site, at the time it was illegal to invest money in stocks, but rental income was a wise investment. The Company later decided to build its foreign headquarters on the site, and decided that they needed a grander building.

They commissioned local architect Zsigmond Quittner to design the new structure, and in 1904, they began construction of the Gresham Palace, which was completed in 1906 and opened in 1907. It was named after the 16th-century English financier Sir Thomas Gresham, the founder of the Royal Exchange in London. It was built in secession/art nouveau style with wavy arches, stained glass and iron-work all in the fashionable style of the time

Originally, the palace served as an office building as well as a residence for senior staff of the Gresham company. During the occupation after World War II, the Red Army used the building as a barracks. Eventually, it fell into disrepair and was used as an apartment building during the People's Republic of Hungary. In 1990, following the end of the Communist regime, the national government presented the palace to the city of Budapest.