Oliver Heywood
Oliver Heywood | |
|---|---|
| Born | Template:Birth date Irlam O'Th' Height, Lancashire, England |
| Died | March 17, 1892 (aged 66) |
| Occupation(s) | Banker, benefactor |
| Known for | Senior partner of Heywood's Bank; philanthropy in Manchester; first Honorary Freeman of Manchester |
Oliver Heywood (9 September 1825 – 1892) was a notable English banker and benefactor.
Hailing from Irlam O'Th' Height, Lancashire, he was the son of Benjamin Heywood and received his education at Eton College. In the 1840s, Heywood entered the family banking enterprise, Heywood's Bank.
He contributed to various charitable organizations, such as the Manchester Mechanics' Institute, Chetham's Hospital, Manchester Grammar School, and Owens College. In 1888, Heywood held the position of High Sheriff of Lancashire.
On 7 September 1847, he wed Eleanor Barton, daughter of merchant Richard Watson Barton; their marriage produced no offspring.
Life
Oliver Heywood was born on 9 September 1825 in Irlams O' Th' Height near Manchester to Sir Benjamin Heywood, a distinguished banker and philanthropist, and Sophia Ann Robinson. The family’s banking institution, located in St. Ann's Square, Manchester, had a longstanding presence despite historical reputational issues dating back to the 18th century.
Heywood’s schooling began at St. Domingo House in Liverpool, continued at Mr. Mertz's School in Manchester, and concluded at Eton College. Following his formal education, he undertook travels abroad before joining the family’s banking operations.
He married Eleanor Barton, daughter of Pendlebury merchant Richard Watson Barton, on 7 September 1847. Initially living at Acresfield—the residence where Heywood himself was born—the couple relocated to Claremont in Pendleton after the death of Sir Benjamin Heywood in 1865. Eleanor passed away in September 1877 without children.
The origins of the Heywood family wealth are connected to the trans-Atlantic slave trade. Oliver Heywood’s great-grandfather, Benjamin Heywood, based in Liverpool during the 1700s, owned a shipping company involved in transporting goods from Manchester to West Africa. These goods were exchanged for enslaved people who were then transported to Barbados and traded for sugar and cotton that were brought back to Liverpool. This commerce facilitated Benjamin Heywood’s establishment of the family bank in Manchester in 1788.
Business
In 1845, Oliver Heywood became part of his father’s banking firm, Sir Benjamin Heywood & Co., and by 1847 had become a partner alongside his three younger brothers. After his father retired in 1860, Oliver assumed the role of senior partner and the bank was renamed Heywood Brothers & Co.
During Oliver’s tenure, the bank upheld its reputation for cautious and dependable management—traits that proved vital during the financial turmoil of 1866 caused by the collapse of Overend, Gurney & Co., which triggered widespread banking instability across England. Present in London when the crisis erupted, Heywood promptly returned to Manchester to evaluate his bank’s condition and found it secure. The institution’s endurance is largely credited to his conservative leadership approach that avoided excessive risk-taking.
Heywood served as senior partner until 1876 when Heywood Brothers & Co. was absorbed by Manchester & Salford Bank. The terms of this acquisition guaranteed that Oliver and his brothers retained senior director roles within the merged entity.
By 1878, Heywood had stepped back from active management beyond maintaining his shareholding and ceased participation in board meetings. His withdrawal was influenced by disagreements with general manager Thomas Read Wilkinson over the purchase of Hardcastle, Cross & Co., a Bolton-based bank.
Philanthropy
During the Victorian era, the banking enterprise managed by Oliver Heywood's family flourished, generating considerable wealth that allowed him to dedicate substantial effort to charitable endeavors, especially in the field of education. He provided financial support for initiatives aimed at creating colleges for working men and played a role in the establishment of Owens College, Manchester, which later evolved into the University of Manchester. Unlike many affluent peers who relocated to countryside estates, Heywood chose to reside in Manchester, where he actively engaged in addressing the needs of the local community.
Heywood’s philanthropic focus on education was directed toward institutions in Manchester such as Victoria University, Owens College, Manchester Grammar School, Manchester High School for Girls, Hulme Grammar School, Manchester Technical School, as well as various local school boards. His generosity extended to healthcare facilities including the Hospital for Sick Children, St Mary's Hospital, Manchester Royal Infirmary, Salford Royal Hospital, the Royal Eye Hospital Manchester, the Royal Asylum, and the Provident Dispensaries Association.
A proponent of reformist causes, Heywood strongly supported the Anti-Slavery movement within England. He regularly attended regional Anti-Slavery gatherings in Manchester and notably took part in an 1872 assembly aimed at abolishing the slave trade in East Africa.
Although his father, Sir Benjamin Heywood, had served as a parliamentary member during the 1830s, Oliver Heywood opted not to enter politics himself, choosing instead to concentrate on philanthropic work and civic duties.
Legacy
In 1888, Oliver Heywood was recognized as Manchester’s inaugural Honorary Freeman in acknowledgment of his extensive public contributions. He passed away on 17 March 1892 and was interred at St. John's church in Pendlebury. His funeral attracted thousands of attendees and was led by the bishops of Guildford and Manchester; a procession of 150 carriages accompanied the ceremony. In tribute, shops in Irlams O' Th' Height and Pendlebury closed for the day.
A marble statue honoring Heywood was commissioned for Albert Square in Manchester and sculpted by Albert Bruce-Joy. The monument was funded by donations from 332 contributors amounting to £2600. Unveiled in December 1894, it bears an inscription highlighting that his life was "devoted to the public good." This statue complemented Bruce-Joy’s earlier work depicting John Bright located within the same square.
Honours
- First recipient of Manchester’s Honorary Freedom of the City, 1888
- Memorial unveiled in Salford on 20 October 1893
- Grade II listed statue by Albert Bruce-Joy situated in Albert Square, revealed in 1894
References
- Statue of Oliver Heywood, Albert Square, Manchester; Terry Wyke; Revealing Histories; 2014
- Report of death, The Manchester Evening News, 17 March 1892
- Notice of death, Supplement to the Manchester Courier, 19 March 1892