The Move To London
The next stage in the Bank’s development was to seek a London presence and, in particular, to gain a seat in the London Clearing House. Unsuccessful overtures were made to both Glyn’s (the Bank’s London agent), and to Cocks, Biddulph. However, the Bank’s Chairman “was successful in persuading the chairman…of Martins Bank to agree to amalgamation and to accept the primacy of the Bank of Liverpool”. Martins in turn recognised its need to expand into the provinces and the acquisition of Martins duly too place in 1918. Although Martins was much smaller than the Bank of Liverpool, the goodwill of its name and its seat on the Clearing House, meant that it was the only one of Liverpool’s acquisition to preserve its name; the enlarged entity was called the Bank of Liverpool and Martins and when the name was eventually shortened in 1928, it was to just Martins Bank. The increased standing possessed by the Bank of Liverpool following its entry into the clearing house system then persuaded the private West End firm of Cocks, Biddulph to agree to its acquisition. By 1919, the Bank of Liverpool had become a national bank but one still based in the provinces.
Read more about this topic: Bank Of Liverpool
Famous quotes containing the words move and/or london:
“Short of a wholesale reform of college athletics—a complete breakdown of the whole system that is now focused on money and power—the women’s programs are just as doomed as the men’s are to move further and further away from the academic mission of their colleges.... We have to decide if that’s the kind of success for women’s sports that we want.”
—Christine H. B. Grant, U.S. university athletic director. As quoted in the Chronicle of Higher Education, p. A42 (May 12, 1993)
“London ... remains a man’s city where New York is chiefly a woman’s. London has whole streets that cater to men’s wants. It has its great solid phalanx of fortress clubs.”
—Louis Kronenberger (1904–1980)