Michael Godfrey
Michael Godfrey | |
|---|---|
| Born | Template:Birth date |
| Died | July 17, 1695 (aged 37) |
| Occupation(s) | Merchant, financier |
| Known for | First deputy governor of the Bank of England |
Michael Godfrey (22 February 1658 – 1695) was a prominent English merchant and financier, recognized as one of the original founders and the inaugural deputy governor of the Bank of England.
Family
Godfrey was the firstborn son of Michael Godfrey (1624–1689), a merchant operating in both London and Woodford, Essex, and Anne Mary Chamberlain. He was also the nephew of Sir Edmund Berry Godfrey, a magistrate known for his role in the investigations related to the Popish Plot.
Career
Together with his brother Peter Godfrey, Michael engaged in mercantile activities, although their father anticipated potential dangers in their business endeavors. He played a supportive role alongside William Paterson in establishing the Bank of England in 1694 and was appointed as its first deputy governor. Godfrey authored a pamphlet entitled A Short Account of the Bank of England and was one of fifteen individuals chosen on 15 August 1694 to formulate the bank’s regulations.
Death
On 16 May 1695, during a general court when Peter Godfrey was appointed as a director, the bank decided to establish an Antwerp branch to mint currency for troops stationed in Flanders. Deputy governors Sir James Houblon, Sir William Scawen, and Michael Godfrey were dispatched to oversee this operation following arrangements made between King William III and the elector of Bavaria. While visiting besieged Namur, Godfrey was fatally struck by a cannonball near the king on 17 July 1695.
His passing, as a distinguished merchant, led to a 2% decline in bank share prices. Remaining unmarried, he was interred beside his father at St. Swithin, Walbrook, where his mother erected a commemorative tablet.