Williams Deacon and Manchester and Salford Bank
1836 The Manchester and Salford Bank was established by a group of promoters keen to take advantage of recent legislation allowing the formation of joint-stock banks outside London.
1836 A banking house was rented in King Street.
1838 A new banking house was completed on land off Mosley Street
From the late 1850s the bank expanded rapidly. Branches were opened in nearby towns, a new banking house in Mosley Street was built in 1862 and a number of local banking firms were acquired:
- Heywood Brothers and Co of Manchester in 1874
- Hardcastle, Cross and Co of Bolton in 1878
- Clement Royds and Co of Rochdale in 1881.
1871 Company incorporated
1881 Registered with Limited Liability
By the 1880s the number of private banks was declining and large clearing banks with London head offices and nationwide branch networks had begun to emerge.
1890 The bank had 47 branches. Took over Williams, Deacon and Co, the bank’s London agent. The new bank was renamed Williams Deacon and Manchester and Salford Bank Ltd and the head office transferred to Birchin Lane, City of London, to retain Williams, Deacon & Co's membership of the London Clearing House.
Profits increased steadily during the last decade of the 19th century
1901 the name of the bank was changed to Williams Deacon's Bank Ltd
See Also
Sources of Information
- [1] RBS Heritage