Seven years later, joint-stock banks were allowed within the 65-mile circle, but in 1844 a stricter law virtually stopped further joint-stock banks from being founded. The Bank of England had a monopoly on joint-stock banking until 1826, when Lord Liverpool, the prime minister, sponsored a new law allowing joint-stock banking, except within a 65-mile radius of London. Strategic Partnerships in the 19th Century His second son, James, became a partner in the Birmingham bank in 1802 and was followed in the mid-19th century by his own three sons. Charles tried mightily to mold his eldest son, Charles II, into a banker, but his efforts failed. In the final years of the 18th century and the early years of the 19th, Charles was the principal figure in the Birmingham bank.
Sampson ’s half-brother Charles was the more important of the two, best known for his intellect and remarkable memory. Sampson III and his wife had 16 children and were known to have entertained James Boswell and Dr. Little is known of his son and partner Sampson III, who was the last Lloyd to be a partner in both the Birmingham and London houses. He was married twice and had six children. Sampson Lloyd II had apprenticed to a Quaker businessman in Bristol before joining his father ’s iron firm. In 1775 the Birmingham bank had 277 customers. This bank then served as the Birmingham house ’s agent. Just five years later, the bank ’s two junior partners set up their own banking house in London with two other businessmen, forming Hanbury, Taylor, Lloyd and Bowman. Taylors and Lloyds opened its accounts in June 1765. Each man ’s eldest son was also a partner in the bank, and two of Lloyd ’s other sons eventually joined it as well. Taylor was a wealthy Unitarian who was a maker of buttons and snuff boxes Lloyd was a prominent Quaker whose father had settled in Birmingham in 1698. Sampson Lloyd II worked for 40 years in the family iron trade in Birmingham before founding Taylors and Lloyds in partnership with John Taylor in 1765. The present company arose from a merger of Lloyds and the TSB Group, a deal that catapulted the company into its present position as the second largest bank in Britain. Long considered a conservative banking house, Lloyds has grown increasingly innovative since the early 1970s, often taking the lead among the Big Four clearing banks in offering new financial services and products and in developing an international presence. It has almost 3,000 branches throughout the United Kingdom, and its international business is conducted through approximately 500 offices in 47 countries, including the United States, Canada, Japan, Australia, Brazil, and Egypt.
Through the bank and its subsidiary and associated companies, Lloyds offers a wide variety of international banking and financial services. Lloyds TSB Group plc is one of the Big Four British clearing banks in the United Kingdom. NAIC: 522110 Commercial Banking (pt) 522210 Credit Card Issuing (pt) 522120 Savings Institutions (pt) 523991 Trust, Fiduciary, and Custody Activities (pt) 522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities (pt) 522390 Other Activities Related to Credit Intermediation (pt) 522220 Sales Financing (pt) 522291 Consumer Lending 522292 Real Estate Credit (pt) 522310 Mortgage and Nonmortgage Loan Brokers 524113 Direct Life Insurance Carriers 525110 Pension Funds Ticker Symbol: LLOY (London) LYG ( New York) Incorporated: 1865 as Lloyds Banking Company Limited
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