Glasgow Banking Company
The Glasgow Banking Company was formed in 1809. It was the last of the old private partnership banks to be established in the city.
There were 16 founding partners, including local merchant Robert Brown. The principal (and managing) partner was James Dennistoun, one of the city's most prominent citizens. He held ten shares, valued at £5,000 each – ¼ of the initial capital raised.
In 1818, a further seven partners were invited to join the Company, to strengthen its Glasgow connections. Competition for business in the city had become fiercer, following the establishment of Royal Bank and British Linen Bank agencies (branches).
In 1836, a committee of the Glasgow Banking Company partners met to consider converting to joint-stock status.
This step was never taken, however. Instead, the Company resolved that same year to merge with the Ship Bank,Glasgow's oldest partnership bank. The new company, known as the to form the Glasgow and Ship Bank became part of the Union Bank of Scotland in 1843.
Return to the Bank of Scotland family tree.
- The History of the Union Bank of Scotland by Robert Rait (John Smith & Son Ltd., Glasgow, 1930), chapter 10.
- A small number of archives relating to the Glasgow Banking Company are held by Lloyds Banking Group Archives in Edinburgh - for further information see our archive collections.