Bosanquet, Salt & Co.

(1780-1884)

Foundation

Bosanquet, Salt & Co. Articles of Partnership, 1867
Bosanquet, Salt & Co. Articles of Partnership, 1867

The London-based bank of Bosanquet, Salt & Co. was established in 1867. It was formed as a result of the merger of two much older London firms, Stevenson, Salt & Sons (established 1787) and Bosanquet, Beachcroft & Reeves (1780).

Customer Base

Much of Bosanquet, Beachcroft & Reeves’s early business was concerned with helping to finance merchant traders. It also acted as London agent to a number of country banks.

Samuel Bosanquet, one of the original partners, maintained close links with the Admiralty. As a result, many early customers were high-ranking members of the Royal Navy. However, this patronage declined with the end of the Napoleonic Wars, in 1815.


Samuel Bosanquet's signature, 1841

Takeover

In 1867, the bank merged with local rival, Stevenson, Salt & Sons. This merger not only achieved a larger customer base, but it also brought the bank its first link with Lloyds, for whom Stevenson, Salt & Sons acted as London agent.

The merger was a success. In the years to come, however, the Bank’s small size meant that it found it difficult to compete with the larger joint-stock banks. Bosanquet, Salt & Co. was taken over by Lloyds Banking Company in 1884. The Bosanquet name did appear briefly alongside that of Lloyds in the Bank’s title – Lloyds Bank was known as Lloyds, Barnetts & Bosanquets until 1889.

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