350 years of banking history
As we celebrate our 350th anniversary, we look back at seminal moments in the bank's history.
Richard Hoare is made a freeman of the Worshipful Company of Goldsmiths and starts to trade as a goldsmith-banker at the sign of the Golden Bottle in Cheapside. Early customers include Samuel Pepys and Charles II’s widow, Catherine of Braganza.
Richard’s son ‘Good Henry’ becomes a partner. Richard is knighted by Queen Anne in 1702.
Henry Hoare I, holding plans for Stourhead.
Richard Hoare is elected Lord Mayor of the City of London.
‘Good Henry’ co-founds Westminster Hospital ‘to provide poor sick people… with necessary food and physic during illness.’
Richard Hoare, brother of ‘Henry the Magnificent’, is made partner. 15 years later, as Lord Mayor of London, he is charged with the defence of the City during the 2nd Jacobite Uprising.
Sir Richard Hoare, 2nd Knight, mobilising the local guard, by John Wootton c. 1746.
The bank issues its first printed cheque.
Early ‘Messrs. Hoare & Co.’ printed cheque dated 4th March 1763.
Henry Hoare of Mitcham is made partner. His strict management of the bank’s affairs during the American and Continental Wars sees deposits treble from £781,000 to £2,216,000.
Private banks lose their monopoly on deposit banking. Many are sold or converted into joint stock banks, but
C. Hoare & Co. retains its independence.
Peter Richard Hoare jnr and Henry Hoare of Staplehurst enter into a partnership agreement despite fierce personal differences. While the brothers-in-law contrive to meet as seldom as possible, their 14-year partnership is markedly successful, with deposits reaching £2,515,000.
Peter’s son-in-law, Algernon Strickland, enters the partnership – a steadying influence during a calamitous period in which the sons of Henry and Peter burden the business with debt and scandal.
Henry Hoare of Iden’s son, Harry of Ellisfield, becomes the senior partner of the 8th generation and oversees a period of retrenchment.
Women are employed at the bank for the first time to replace staff called up to fight in the Great War. Messrs. Hoare Trustees is established.
Henry Cadogan becomes the first of the 10th generation of partners. Deposits now stand at £9,034,000 and the bank employs 100 staff.
Sir Derick Hoare becomes the third partner to serve as Lord Mayor of London.
The Golden Bottle Trust is established to further the philanthropic aims of the Hoare family and the bank.
A Visa card is introduced which, in addition to providing credit, enables cash withdrawal from ATMs.
Alexander S Hoare becomes the first of the 11th generation of partners.
Venetia Hoare becomes the first female partner.
The bank appoints its first ‘non-family’ chairman.
C. Hoare & Co. is the first UK bank to launch a Donor-Advised Fund, the Master Charitable Trust
C. Hoare & Co. opens its first regional office in Cambridge.