Thomas Coutts (7 September 1735 – 24 February 1822) was a British banker. He was a founder of the banking house

Coutts & Co Coutts & Co. is a London-headquartered private bank and wealth manager. Founded in 1692, it is the eighth oldest bank in the world. Today, Coutts forms part of NatWest Group's wealth management division. In the Channel Islands and the Isle of ...

Early life

Coutts was the fourth son of Jean (

née A birth name is the name of a person given upon birth. The term may be applied to the surname, the given name, or the entire name. Where births are required to be officially registered, the entire name entered onto a birth certificate or birth re ...

Steuart) Coutts and John Coutts (1699–1751), whose business in

Edinburgh Edinburgh ( ; gd, Dùn Èideann ) is the capital city of Scotland and one of its 32 Council areas of Scotland, council areas. Historically part of the county of Midlothian (interchangeably Edinburghshire before 1921), it is located in Lothian ...

was as a corn factor and negotiator of

bills of exchange A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document. More specifically, it is a document contemplated by or consisting of a ...

, and in 1742 was elected lord provost of the city. The family was originally of Montrose, but in about 1696 one of its members settled in Edinburgh, where in due course Thomas was educated at the Royal High School.

Career

Soon after the death of John Coutts the business was divided into two branches, with one continuing in Edinburgh, the other in London. The London banking business was in the hands of Thomas and his brother

James James is a common English language surname and given name: *James (name), the typically masculine first name James * James (surname), various people with the last name James James or James City may also refer to: People * King James (disambiguat ...

, an MP. Following the death of his brother in 1778, as surviving partner Thomas became sole head of the firm, and it was under his direction the banking house rose to the highest distinction. His ambition was to establish his character as a man of business and make a fortune, and he lived to succeed and enjoy his reputation and wealth. A gentleman in manners, hospitable and benevolent, he counted amongst his friends some of the literary men and the actors of his day. Of the enormous wealth which came into his hands he made munificent use.

Personal life

In May 1763 he married Susannah Starkey (variously reported as Elizabeth, Betty, or Susan), a young woman whose origins were humble. She was in attendance on the daughter of his brother James. They appear to have had a happy marriage, and had three daughters: * Susan Coutts (–1837), who in 1796 married

George Augustus North, 3rd Earl of Guilford George Augustus North, 3rd Earl of Guilford, FRS (11 September 1757 – 20 April 1802), known as The Honourable George North until 1790 and as Lord North from 1790 to 1792, was a British politician. Early life Guilford was the eldest son of ...

. * Frances Coutts (1773–1832), who in 1800 married

John Crichton-Stuart, 1st Marquess of Bute John Stuart, 1st Marquess of Bute Privy Council of Great Britain, PC, Royal Society, FRS (30 June 1744 – 16 November 1814), styled Lord Mount Stuart until 1792 and known as The Earl of Bute between 1792 and 1794, was a British nobleman, coalfi ...

. * Sophia Coutts (1775–1844), who in 1793 married

Sir Francis Burdett, 5th Baronet Sir Francis Burdett, 5th Baronet (25 January 1770 – 23 January 1844) was a British politician and Member of Parliament who gained notoriety as a proponent (in advance of the Chartists) of universal male suffrage, equal electoral districts, vo ...

, a "zealous and courageous advocate of reform who more than once endured imprisonment for his radical views." Coutts's first wife died on 4 January 1815. On 18 January, Coutts married

Harriet Mellon Harriet Beauclerk, Duchess of St Albans (alternate spelling: Harriot; née Mellon; 11 November 1777 – 6 August 1837) was a British banker and actress who eventually starred at Drury Lane. She was successively the wife of banker Thomas Coutts ...

, a popular actress. She was 37 years old; he was 79. He died in London on 24 February 1822, leaving his entire fortune to his widow. In 1827, she remarried

William Beauclerk, 9th Duke of St Albans William Aubrey de Vere Beauclerk, 9th Duke of St Albans (24 March 1801 – 27 May 1849) was an English aristocrat and cricketer. Early life William Aubrey de Vere Beauclerk was born on 24 March 1801. He was the son of William Beauclerk, 8th D ...

, who was 23 years her junior. She died ten years later, bequeathing her property to Thomas's granddaughter, her step-granddaughter Angela, the youngest daughter of Sir Francis Burdett. Angela then assumed the additional name and arms of Coutts. In 1871, Angela was created

Baroness Burdett-Coutts Baron is a rank of nobility or title of honour, often hereditary, in various European countries, either current or historical. The female equivalent is baroness. Typically, the title denotes an aristocrat who ranks higher than a lord or knig ...

Legacy

The HCS ''Thomas Coutts'', a

merchant ship A merchant ship, merchant vessel, trading vessel, or merchantman is a watercraft that transports cargo or carries passengers for hire. This is in contrast to pleasure craft, which are used for personal recreation, and naval ships, which are u ...

of the

British East India Company The East India Company (EIC) was an English, and later British, joint-stock company founded in 1600 and dissolved in 1874. It was formed to trade in the Indian Ocean region, initially with the East Indies (the Indian subcontinent and Southea ...

active from at least 1826 :c:Thomas Coutts (ship, 1817) to 1839, was named for Coutts.

References

External links

* * {{DEFAULTSORT:Coutts, Thomas 1735 births 1822 deaths People educated at the Royal High School, Edinburgh Businesspeople from Edinburgh Scottish bankers Anglo-Scots