Thomas Coutts
Thomas Coutts | |
|---|---|
| Born | Template:Birth date Edinburgh, Scotland |
| Died | February 24, 1822 (aged 86) London, England |
| Occupation | Banker |
| Known for | Founder of Coutts & Co. |
Thomas Coutts (7 September 1735 – 24 February 1822) was a prominent British banker and the originator of the banking firm Coutts & Co.
Early life
Born as the fourth son to Jean (née Steuart) and John Coutts (1699–1751), a corn merchant and bill broker in Edinburgh, Thomas hailed from a family that had relocated from Montrose to Edinburgh around 1696. His father served as lord provost in 1742. Thomas received his education at the Royal High School.
Career
Following the passing of his father, the family enterprise divided into two branches: one in Edinburgh and the other in London. Thomas, alongside his brother James, who was also an MP, oversaw operations in London. Upon James’s death in 1778, Thomas assumed sole leadership, under which the firm achieved considerable prestige. He focused on building a reputable business and accumulated substantial wealth, which he was known to distribute liberally. Renowned for his refined manners and generous hospitality, he maintained relationships with notable literary personalities and actors of his era.
Personal life
In May 1763, Thomas Coutts wed Susannah Starkey, who had previously served as a lady’s maid to the daughter of his brother James. The couple had three daughters:
- Susan Coutts (circa 1765–1837), who became the wife of George Augustus North, 3rd Earl of Guilford.
- Frances Coutts (1773–1832), who married John Crichton-Stuart, 1st Marquess of Bute.
- Sophia Coutts (1775–1844), who was united in marriage with Sir Francis Burdett, 5th Baronet, known for his reformist stance.
After Susannah passed away in January 1815, Thomas remarried within the same month to Harriet Mellon, an actress; she was aged 37 while he was 79. Thomas died in London in February 1822 and bequeathed his fortune to Harriet. In 1827, she entered into marriage with William Beauclerk, 9th Duke of St Albans. Upon her death ten years later, she left her inheritance to Thomas’s granddaughter Angela Burdett-Coutts, who adopted the Coutts surname and was subsequently ennobled as Baroness Burdett-Coutts in 1871.
Legacy
The merchant vessel HCS Thomas Coutts, affiliated with the British East India Company, operated from at least 1826 until 1839 and was named in his honour.