Lloyds Bank began as Taylors & Lloyds in Birmingham, in 1765. For the first hundred years, the Bank operated from just one office in the town. But in the 1860s, Lloyds embarked on a period of rapid expansion and growth. By the time of the TSB merger in 1995, it had absorbed more than 200 banks.
The family tree shows just a few of the most significant takeovers. Click on the tree graphic to open a PDF version. Select the names listed at the end of the page to find out more about their individual histories.
Understanding our past
A lot has changed during the 300 year history of our brands and while we have much within our heritage to be proud of, we can’t be proud of it all. Like any institution that is so interwoven with our country’s history, we must acknowledge and learn from our past.
Lloyds Bank was originally a small private bank in Birmingham known as Taylors & Lloyds from 1765 to 1865 – the name came from John Taylor, Sampson Lloyd and their two sons who founded the bank. The Lloyd family were Quakers and, as such, family members were actively involved in the movement to abolish the transatlantic slave trade. John Lloyd, one of the sons of Sampson Lloyd II, one of the original founders of the bank, was heavily involved in the movement.
However, its customers included gun makers and those involved in the iron trade. It’s reasonable to assume that a percentage of the goods they manufactured would have made been sold to slave traders.
Between 1865 and 1923 Lloyds took over around 50 banks - some 200 in total, as these banks had taken over other banks. None are known to have had direct links to the slave trade, however there’s evidence in our archive of indirect links. Here’s what we know:
- Willis, Percival & Co. London bank founded in 1668 as a goldsmith. The bank financed international trade, including cargoes of sugar from the West Indies in the 1780s. Customers included owners of West Indian plantations with enslaved people. Taken over by Capital & Counties Bank in 1878, which was taken over by Lloyds in 1918.
- Cox & Co. was founded in London as an army agent in 1758. Lloyds Bank took it over in 1923 (by which time it was Cox’s & King’s). Customer Sir Thomas Champneys owned a plantation, including enslaved people in Jamaica. He went bankrupt and the bank foreclosed on the mortgage. It owned the plantation between about 1822 and 1854. Compensation was paid to bank partner Richard Henry Cox. Other customers included owners of Jamaican plantations with enslaved people.
- Bosanquet, Salt & Co., also listed as Bosanquet, Anderdon & Co., was established in 1780 and merged with Lloyds in 1884. Four named partners are listed as having received government compensation for enslaved people following the abolition of slavery.
- Berwick, Lechmere & Co was formed in 1831 and was part of a business we acquired in 1918. Two partners were mortgage holders for Virgin Island estates and received compensation.
- Charles Haden Adams was a co-claimant for compensation for one enslaved person in Trinidad. Adams was one of 66 members of the Provisional Committee that was formed to set up Lloyds Banking Company when it changed from a private partnership to a joint-stock company (equivalent of a plc in today’s terms) in 1865.
- The London & Brazilian Bank, which was formed in 1862 and taken over by Lloyds Bank in 1923, also had connections with slavery before it was abolished in Brazil in 1888. This included financing coffee plantations. Mortgages on these plantations were sometimes secured using the monetary value of enslaved people as collateral. John White Cater, Chairman, and two directors, John Bloxham Elin and Edward Johnson had received compensation. John White Cater, who went on to become Chairman of London and Brazilian Bank, received compensation for five claims relating to estates in Jamaica.
- Bland, Barnett, Hoare & Co. (founded 1728 in London, successor bank taken over by Lloyds 1884). Customers included owners of Jamaican plantations with enslaved people.
- Hanbury, Taylor, Lloyd & Bowman (founded 1772, London agents to Taylors & Lloyds, families related. Taken over by Lloyds 1884). Partners Osgood Hanbury and Osgood Hanbury II owned a plantation in Barbados with c.100 enslaved people. It was sold in around 1810. Customers included owners of Jamaican plantations, with enslaved people.
- Praed & Co. (founded in London in 1802, taken over by Lloyds 1891). Founding partner, William Praed, owned two plantations in Jamaica. He and another partner Vere Vane received compensation. Customers owned plantations in Jamaica. A number of them received compensation.
- Madison, Pearce & Hankinson (founded in 1770 in Southampton, successor bank taken over by Lloyds in 1903). Partner Robert Pearce received compensation.
- Hammond & Co. (founded in 1788 in Kent. Successor bank taken over by Lloyds in 1918). Original partners were from the Gipps family, who owned a sugar plantation in Jamaica.