Gurney's Bank
| Company type | Private bank |
|---|---|
| Industry | Banking |
| Founded | 1770 |
| Founder | John Gurney and Henry Gurney |
| Defunct | 1896 |
| Fate | Merged into Barclays Bank |
| Headquarters | Norwich , England |
| Products | Banking services, banknotes issuance |
Gurney's Bank was a banking institution established in 1770 by the Gurney family, based in Norwich, England. It eventually became part of Barclays Bank through a merger in 1896.
History
The bank was launched in 1770 by brothers John and Henry Gurney, descendants of John Gurney (1688–1741), operating initially from the location now known as Bank Plain (previously Redwell Street). The Quaker Gurney family earned a reputation for integrity and dependability, which fostered significant public confidence in their ability to safeguard assets. Around 1777, Bartlett Gurney purchased property near the red well, where he installed secure bullion safes under strict protection. The institution issued its own banknotes and upheld rigorous security measures at its Norwich location.
Following Bartlett Gurney’s death in 1802 without a male successor, leadership transferred to relatives including John Gurney, father of prominent banker Samuel Gurney. Upon John’s passing in 1809, Samuel assumed control of the Norwich bank and concurrently managed the London billbroking firm Richardson, Overend & Company, later renamed Overend, Gurney and Company. This firm stood as one of the world’s foremost discount houses for forty years. Samuel passed away in 1856.
In 1865, Overend, Gurney & Company converted into a joint stock company but suffered collapse in 1866 with debts totaling £11 million, causing significant losses among investors and some members of the Gurney family. Nevertheless, the Norwich bank was largely insulated from this crisis. Soon after, The Times reported that this failure would not affect Gurney's Bank in Norwich, which was then managed by new partners possessing considerable financial backing.
The prominence of the Gurneys' fortune was such that it was humorously referenced in Gilbert and Sullivan’s 1875 comic opera Trial by Jury, where a character claims to have become "as rich as the Gurneys."
In 1896, Gurney's Bank combined forces with Backhouse's Bank of Darlington, Barclays Bank of London, and several other Quaker-owned regional banks to create what is now known as Barclays Bank.
See also
Further reading
- — narrative on the Gurney family.
External links
- Archives of Gurney's & Company, Norwich, 1775-1896 at Archives Hub