Clement Royds and Co
of Rochdale
1819 Established as a branch office of John Rawson, William Rawson and Christopher Rawson & Co (est. 1811), bankers of Halifax, who had offered a weekly banking service in Yorkshire Street, Rochdale, on market day since 1818. The new bank, trading as John Rawson, William Rawson & Christopher Rawson, was located in The Butts and issued its own notes from the outset. Its London agent was Jones, Loyd & Co, bankers of London. It also came to be known as Rochdale Old Bank.
1827 the bank was acquired by Clement Royds, local woollen merchant, trading initially as Royds, Smith & Co and by late 1828 as Clement Royds & Co.
1854 Royds died and was succeeded as senior partner by his son, William Royds.
1881 After the failure of local bankers J & J Fenton & Sons (est. 1819), Clement Molyneux Royds, Clement Royds’ grandson and senior partner since 1871, believing the prospects of small private banks to be bleak, sold the business to Manchester and Salford Bank
See Also
Sources of Information
- [1] Nat West heritage