Heywood's Bank was a private banking firm established and run in
Manchester
Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of Salford to the west. The t ...
by members of the Heywood family of Pendleton between 1788 and 1874.
Family and banking history
The bank was founded in Manchester by Benjamin Heywood and his two sons, Benjamin Arthur and Nathaniel Heywood with Barclay, Bevan, Tritton & Co, bankers of City of London, as London agents. They began trading in May 1788
![Heywood Bank, Liverpool, 1787](https://upload.wikimedia.org/wikipedia/commons/c/ca/Heywood_Bank%2C_Liverpool%2C_1787.jpg)
The company was named ‘Benjamin Heywood Sons & Co’. Benjamin had been a partner in Heywood's Bank, Liverpool which he had established in 1773 with his brother Arthur. The brothers had attempted in 1784 to open a branch of their bank at Manchester but the attempt failed and it was decided that a separate firm would have to be formed. They dissolved their partnership and Benjamin moved to Manchester with his sons, taking with him over £10,000 in bills of exchange, while Arthur remained in control of the Liverpool bank renaming it 'Arthur Heywood, Sons & Co'.
On Benjamin's death in 1795, the Manchester firm became known as "Heywood Brothers & Co". In 1814, Nathaniel’s eldest son
Benjamin Heywood
Sir Benjamin Heywood, 1st Baronet (12 December 1793 – 11 August 1865) was an English banker and philanthropist.
Early life
Benjamin Heywood was born on 12 December 1793 in St Ann's Square, Manchester. He was the grandson of Thomas Perciva ...
joined the firm. Nathaniel died in 1815. Two more of Nathaniel’s sons then joined the firm;
Thomas
Thomas may refer to:
People
* List of people with given name Thomas
* Thomas (name)
* Thomas (surname)
* Saint Thomas (disambiguation)
* Thomas Aquinas (1225–1274) Italian Dominican friar, philosopher, and Doctor of the Church
* Thomas the A ...
in 1818 and Richard in 1820.
Benjamin Arthur Heywood, the last of the original founders, died in 1828 and in 1829 both Thomas and Richard retired from banking, leaving their brother
Benjamin as the sole partner. He renamed the Bank "Benjamin Heywood & Co."
Benjamin was created the First Baronet of Claremont in 1838 and he re-titled the bank ‘Sir Benjamin Heywood Bart. & Co’. He later brought his four sons into the firm when they came of age:
Oliver, Arthur, Edward and Charles. Benjamin retired in 1860, leaving his sons to run the firm, which they renamed ‘Heywood Brothers & Co’.
Locations
The bank was opened in Exchange Street,
Manchester
Manchester () is a city in Greater Manchester, England. It had a population of 552,000 in 2021. It is bordered by the Cheshire Plain to the south, the Pennines to the north and east, and the neighbouring city of Salford to the west. The t ...
in 1788. In 1795 they moved to St Ann Street. There was a short-lived attempt to open a branch at
Stockport about 1820.
![Heywoods Bank Manchester](https://upload.wikimedia.org/wikipedia/commons/0/0d/Heywoods_Bank_Manchester.jpg)
In 1848, the Heywood family had a new building built at
25 St Ann Street. It was designed by John Edgar Gregan, "a three-storey stone clad building in the Italian style, with a deeply rusticated ground floor and two upper floors in ashlar. The ground floor windows, large to light the banking hall, have arched openings, inside which the arched windows are flanked by classical columns. Next to it is a smaller building in brick with stone detailing which was the home of the bank manager"
[{{cite book , last = Parkinson-Bailey , first = John J , title = Manchester: an Architectural History , publisher = Manchester University Press , location = Manchester , isbn = 0-7190-5606-3 , pages = 87–88 , year = 2000
] The building is still in use today as a branch of the Royal Bank of Scotland
Sale and closure
In April 1874, Heywood’s Bank was acquired by the
Manchester & Salford Bank
Williams Deacon's Bank was acquired by the Royal Bank of Scotland in 1930. It had a large network of branches in the north-west of England. In 1970, it was integrated with Glyn, Mills & Co. and The National Bank (which were part of the same grou ...
for £240,000. In 1890, the Manchester & Salford Bank became
Williams Deacon's Bank, which in 1930 was acquired by the
Royal Bank of Scotland.
References
See also
*
Royal Bank of Scotland
*
Heywood Baronets
The Heywood Baronetcy, of Claremont in the County Palatine of Lancaster, is a title in the Baronetage of the United Kingdom. It was created on 9 August 1838 for the banker, politician and philanthropist Benjamin Heywood. He had been instrument ...
Defunct companies based in Manchester
Defunct banks of the United Kingdom
Banks established in 1788
British companies disestablished in 1874
1788 establishments in England
British companies established in 1788