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Powered and implemented by Interactive Data Managed Solutions. Jump to navigation Jump to search This article is about the British banking firm. British multinational investment bank and financial services company headquartered in London. Barclays traces its origins to a goldsmith banking business established in the City of London in 1690. James Barclay became a partner in the business in 1736. Barclays has a primary listing on the London Stock Exchange and is a constituent of the FTSE 100 Index. It has a secondary listing on the New York Stock Exchange.
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According to a 2011 paper by Vitali et al. Barclays traces its origins back to 1690 when John Freame, a Quaker, and Thomas Gould started trading as goldsmith bankers in Lombard Street, London. The Barclay family were connected with slavery, both as proponents and opponents. David and Alexander Barclay were engaged in the slave trade in 1756. In 1776 the firm was styled “Barclay, Bevan and Bening” and so remained until 1785, when another partner, John Tritton, who had married a Barclay, was admitted, and the business then became “Barclay, Bevan, Bening and Tritton”. Between 1905 and 1916 Barclays extended its branch network by making acquisitions of small English banks.
In May 1958, Barclays was the first UK bank to appoint a female bank manager. Hilda Harding managed Barclays’ Hanover Square branch in London until her retirement in 1970. In 1965, Barclays established a US affiliate, Barclays Bank of California in San Francisco. Barclays launched the first credit card in the UK, Barclaycard, in 1966. On 27 June 1967, Barclays deployed the world’s first cash machine, in Enfield. In 1969, a planned merger with Martins Bank and Lloyds Bank was blocked by the Monopolies and Mergers Commission, but the acquisition of Martins Bank on its own was later permitted. In August 1975, following the secondary banking crash, Barclays acquired Mercantile Credit Company.
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In 1980, Barclays Bank International expanded its business to include commercial credit and took over American Credit Corporation, renaming it Barclays American Corporation. The following year Barclays Bank and Barclays Bank International merged, and as part of the corporate reorganisation the former Barclays Bank plc became a group holding company, renamed Barclays plc, and UK retail banking was integrated under the former BBI, and renamed Barclays Bank PLC from Barclays Bank Limited. In 1986 Barclays sold its South African business operating under the Barclays National Bank name after protests against Barclays’ involvement in South Africa and its apartheid government. Barclays introduced the Connect card in June 1987, the first debit card in the United Kingdom. Edgar Pearce, the “Mardi Gra Bomber”, began a terror campaign against the bank and the supermarket chain Sainsbury’s in 1994.