J.L. Moilliet & Sons
The origins of J. Moilliet & Sons lie in the private bank founded by Robert Coales. Coales was a Birmingham-based merchant and sword-cutter. He started his banking business on Bartholomew Road, in 1766. This was only the second bank to open in the city. The first was Taylors & Lloyds , which had been established the previous year.
The bank was run solely by Coales until his death in 1804. The business was then continued by a series of partners. In 1815, a Swiss merchant named Jean Louis Moilliet joined the firm. Born in Geneva, he came to England at an early age, establishing his business in Birmingham.
Moilliet soon became the dominant partner in the business, which went on to be managed by the family for two more generations.
Growth of the Business
Business was steady throughout the 19th century, but the bank never expanded. Its customer base remained, as in its early days, almost exclusively made up of Birmingham merchants.
In 1865, J.L. Moilliet & Sons was taken over by its main rival, Lloyds Banking Company. One of the partners of the former, James Keir Moilliet, was made a director of Lloyds. He served in this capacity until his retirement, in 1877.
The takeover marked a significant moment in Lloyds’ history. It was its very first acquisition. This signalled the start of a period of rapid expansion.
Return to the Lloyds Bank family tree.