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Quakers in Banking

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Quakers in Banking

Britain

Quakers played a leading role, starting in the 18th century, in the history of British banking.

For most of the Quaker families involved, this seems to have been an almost natural diversification from their other business interests. Quakers in business established a reputation for honesty and integrity, and people started entrusting money to them for safekeeping. Some of them also lent money to other business proprietors. From this it was a short step to the establishment of banks in a sense recognisable today. Some quickly became relatively important firms with customers across a wider geographical area; others remained smaller local concerns.

The main Quaker families involved were:

  • Backhouse
  • Barclay
  • Freame
  • Gurney
  • Hanbury
  • Lloyd
  • Pease

There were a number of intermarriages between these families.

Ireland

Quakers also played a major role in banking in Ireland - mainly the Hoare family.

United States

In 1868 a group of Quaker farmers founded Sandy Spring Bank, based in Maryland.

WikiTree Category

There is a dedicated category for Quaker Bankers: Quaker Bankers.





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Comments: 3

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This space is only for English Quakers in Banking? Thank you.
posted by Dave Jenkins
No. It already covers Irish and Scottish Quaker bankers (Scotland is part of Britain, Ireland is not). Suggestions for additions for other countries are welcome. Thank you.
posted by Michael Cayley
edited by Michael Cayley
I have now added a mention of a Maryland bank.
posted by Michael Cayley

Categories: Quakers Project