Baring was born in England on 27 October 1774, and died at Longleat, the seat of the Marquis of Bath, on 13 May 1848. His father, Sir Francis Baring (1740–1740), was a director of the East India Company, financial advisor to William Pitt the Younger and founder of the merchant banking firm John & Francis Baring & Company (1763). Under Sir Francis's management the firm became, by the end of eighteenth century, one of the most stable financial houses in Europe, playing a prominent role in financing the British war effort against France. In the early part of his life Alexander Baring went to America where, in 1798, he married the daughter of Senator William Bingham of Philadelphia, from one of the wealthiest families of Pennsylvania. Through this union he came into contact with the main mercantile firms of America, and the bank attained a leading position in the financing of US foreign trade.
From The Biographical Dictionary of British Economists in Oxford Reference.