British financier who established one of the most influential business firms in the history of the United Kingdom. The third son of a German immigrant, he went to London, where he gained experience in two mercantile firms and, in 1763, set up the partnership of John & Francis Baring & Company. At first he acted merely as an import and export commission agent for other merchants, but the house of Baring, known as Baring Brothers and Company after 1806, also bought merchandise on its own account, lent its credit in the form of acceptances, and received deposits of friends and clients. It became a key aid to the British government in financing the wars against France after 1792. Sir Francis also underwrote marine insurance and took an active part in the management of the East India Company, of which he was head in the year 1792–93 and for which he received his baronetcy. He was a friend of Jeremy Bentham, a follower in large measure of Adam Smith, and adviser to numerous politicians, the most notable being William Pitt the Younger.

One admirer stated in the Gentlemen's Magazine that he was, at the time of his death, “unquestionably the first merchant in Europe; first in knowledge and talents, and first in character and opulence.” His house led in financing U.S. trade and marketing U.S. bonds, 1815–60; for its subsequent history, see Baring family.