Last Updated:

2024-03-28 08:08:52

Barclays

British multinational universal bank

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British multinational universal bank

Barclays plc is headquartered in London, England, with divisions including Barclays UK and Barclays International. Established in 1690, it has grown through acquisitions and innovations, such as deploying the first cash dispenser in 1967. Barclays operates in over 40 countries and is the fifth largest bank in Europe.

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1567

Barclays Group Archives

Barclays Group Archives house the records of Barclays PLC and its predecessors from 1567 to the present day.

1690-01-01

Barclays Bank Origins

Barclays traces its origins to the goldsmith banking business established in the City of London in 1690. James Barclay became a partner in the business in 1736.

1690-11-17

Founding of Barclays Bank

Barclays Bank was founded on 17 November 1690 by John Freame and Thomas Gould as goldsmith bankers in Lombard Street, London. The name 'Barclays' became associated with the business in 1736 when James Barclay, Freame's son-in-law, became a partner.

1694

Thomas Martin's Apprenticeship to Charles Duncombe

In 1694, Thomas Martin was apprenticed to Charles Duncombe, and later married Duncombe's niece, taking over his share in the business in 1699. The company was renamed Stone and Martin in 1706.

1695

John Freame Holding Society Of Friends' Central Funds

In 1695, John Freame held the Society Of Friends' central funds, known as the national stock, amounting to £1,100. He was a well-respected and influential character within the Quaker community.

1728

Barclays' Move to 54 Lombard Street

In 1728, Barclays moved to 54 Lombard Street and adopted the sign of the Black Spread Eagle as its identifier. This sign later became the official coat of arms for Barclays in 1937.

1733

James Barclay becomes partner in banking business

In 1733, James Barclay, the first member of the Barclay family involved in banking, married the daughter of John Freame, a goldsmith and partner in a banking business in London's Lombard Street. James later became a partner in the firm, which eventually evolved into Barclays Bank Plc.

1736

Partnership of Joseph Freame and James Barclay

In 1736, Joseph Freame, the son of one of the founders of Barclays, partnered with his brother-in-law, James Barclay, solidifying the presence of the Barclays name in the business.

1744

Establishment of Samuel Alexander's Country Bank

In 1744, Samuel Alexander, a Quaker merchant with interests in the iron and corn trade, established one of the earliest 'country banks' in Barclays history in Needham Market, Suffolk. He was perceived as trustworthy and wealthy by his customers, leading to the success of his bank.

1774

Jonathan Backhouse and Company established

Jonathan Backhouse and Company, established in 1774, was one of the principal partners in the 1896 amalgamation that led to the establishment of Barclays as a joint-stock limited company.

1776

David Barclay the younger becomes a partner in the bank

David Barclay the younger became a partner in the bank in 1776. He was known for his active involvement in Quaker activities and his support for the abolition of slavery.

1817

Barclays opens branch in Tunbridge Wells

Barclays established its presence in Kent with the opening of a branch in Tunbridge Wells around 1817. The exact opening date is not known, but there is a reference in J Sprance's 'Tunbridge Wells Guide' for 1817 mentioning the presence of the bank.

1824

Joseph John Gurney's Quaker Authorship

In 1824, Joseph John Gurney authored 'Observations on the Religious Peculiarities of the Society Of Friends', a significant work that was reprinted multiple times, showcasing his prominence as a Quaker author.

1826

Bank Charter Act of 1826

The Bank Charter Act of 1826 allowed banks with more than six partners to be formed only outside London.

1827

Barclays' establishment in Wales

Barclays' roots in Wales trace back to 1827 when a bank was founded in Haverfordwest by John and William Walters. The bank expanded to open branches in Narbeth, Milford Haven, and Pembroke Dock before being acquired by the London and Provincial Bank in 1872.

1837

Joseph John Gurney's Anti-Slavery Campaign

In 1837, Joseph John Gurney embarked on a three-year ministering tour of the West Indies and America to campaign against slavery, generously giving away a third of his share of the Bank's profits during this period.

1838

Gurneys' Banking Expansion

By 1838, the Gurneys expanded their banking business and established partnerships in various locations in Great Britain, becoming one of the most influential banking establishments in the country.

1854

Limited liability for stockholders

Stockholders of new joint-stock companies were granted limited liability for the first time in 1854.

1866-05

Norwich Bank crisis

By injecting new capital and new partners into the Norwich Bank, it was distanced from the bill broking business just one month before it crashed. The failure of the bank was regrettable, but necessary actions were taken to prevent other businesses from being affected by the collapse of Overend, Gurney and Company.

1872

Barclays branches in Narbeth, Milford Haven, and Pembroke Dock

Barclays opened branches in Narbeth, Milford Haven, and Pembroke Dock, before being taken over by the London and Provincial Bank in 1872.

1879

Conversion to limited-liability structure

In 1879, existing joint-stock associations were allowed to convert to a limited-liability structure.

1896-01-01

Formation of Barclays and Co

In 1896, twelve banks in London and the English provinces united as a joint-stock bank under the name Barclays and Co, including Goslings Bank, Backhouse's Bank and Gurney, Peckover and Company.

1902

Barclays Bank Limited floated on the stock exchange

In 1902, Barclays Bank Limited was listed on the stock exchange, marking a significant milestone in the bank's history.

1905

Consolidated Bank of Cornwall merges with Barclays

The Consolidated Bank of Cornwall, formed between 1889-1896 through the combination of various Cornish banks, amalgamated with Barclays and Co in 1905.

1911

Merger with Stamford, Spalding & Boston Banking Company

Barclays merged with the successful Stamford, Spalding & Boston Banking Company in 1911, inheriting several long-established branches in Northamptonshire.

1914

Establishment of French subsidiary Cox & Company

Barclays' first international venture took place in 1914 when it established its French subsidiary, Cox & Company.

1916

Acquisition of United Counties Bank

In 1916, Barclays acquired the United Counties Bank, establishing a significant presence in the Midlands and becoming one of the 'Big Five' clearing banks.

1918-01-01

Acquisition of London, Provincial and South Western Bank

Barclays made numerous corporate acquisitions, including the acquisition of London, Provincial and South Western Bank in 1918, expanding its operations.

1920

Barclays Bank Limited expands globally

By 1920, Barclays Bank Limited had started expanding its operations to various parts of the world including the Caribbean, South Africa, and Europe.

1925

Amalgamation of Colonial Bank, National Bank of South Africa, and Anglo-Egyptian Bank

In 1925, Barclays amalgamated the Colonial Bank, National Bank of South Africa, and the Anglo-Egyptian Bank to operate its overseas operations under the name Barclays Bank (Dominion, Colonial and Overseas)—Barclays DCO.

1937

Barclays adopts its first coat of arms

In 1937, Barclays introduced its first coat of arms, symbolizing a significant moment in the bank's visual identity and branding.

1941

Barclays' Involvement During German Occupation of France

In 1941, during the German occupation of France, a branch of Barclays in Paris collaborated with the invading force, volunteering names of Jewish employees and ceding Jewish bank accounts to the Germans. The branch also used its funds to support German operations.

1958-05

First Female Bank Manager Appointed by Barclays

In May 1958, Barclays made history by appointing Hilda Harding as the first female bank manager in the UK. She managed Barclays' Hanover Square branch in London until her retirement in 1970.

1965

Establishment of Barclays Bank of California

In 1965, Barclays established a US affiliate, Barclays Bank of California, in San Francisco.

1966

Launch of Barclaycard

Barclays launched the first credit card in the UK, Barclaycard, in 1966.

1967-01-01

World's First Cash Dispenser

In 1967, Barclays deployed the world's first cash dispenser, revolutionizing the way people access their money.

1967-06-27

Deployment of the world's first cash machine

On 27 June 1967, Barclays deployed the world's first cash machine in Enfield; Barclays Bank, Enfield. The British actor Reg Varney was the first person to use the machine.

1968

Acquisition of Martins Bank

In 1968, Barclays Bank acquired Martins Bank, a regional smaller business. This acquisition was part of Barclays' strategy to expand and grow by integrating smaller businesses into its operations.

1969

Blockage of merger with Martins Bank and Lloyds Bank

In 1969, a planned merger with Martins Bank and Lloyds Bank was blocked by the Monopolies and Mergers Commission, but the acquisition of Martins Bank on its own was later permitted.

1971

Barclays opened computer centre in Wythenshawe, Manchester

Barclays opened a state-of-the-art computer centre in Wythenshawe, Manchester in 1971. The 110,000 sq ft building, costing £2.75 million, became the largest commercial computer centre in Britain, serving 900 branches across the north of England and managing over 2.25 million customer accounts.

1972

Publication of Barclays Bank Limited, 1926–1969: Some Recollections

The book 'Barclays Bank Limited, 1926–1969: Some Recollections' by Tuke, A. W.; Gillman, R. J. H. was published in 1972, providing insights into the history of Barclays Bank during that period.

1975-08

Acquisition of Mercantile Credit Company

In August 1975, following the secondary banking crash, Barclays acquired Mercantile Credit Company.

1977

Introduction of Company Cards by Barclays

By 1977, Barclays introduced company cards, expanding beyond individual cards. This move catered to the needs of businesses and marked a shift towards corporate banking services.

1980

Expansion of Barclays Bank International

Barclays Bank International expanded its business in 1980 to include commercial credit and took over American Credit Corporation, renaming it Barclays American Corporation.

1982-01-01

Change to Barclays Bank PLC

The name of the bank changed to 'Barclays Bank PLC' in 1982, reflecting its growth and evolution over the years.

1985

Barclays Bank and Barclays Bank International Merger

In 1985, Barclays Bank and Barclays Bank International merged, leading to the formation of a new group holding company named Barclays Group Plc. This merger also resulted in the integration of UK retail banking under the former BBI, which was renamed Barclays Bank PLC.

1986

Barclays Acquisition of de Zoete & Bevan and Wedd Durlacher

In response to the Big Bang on the London Stock Exchange, Barclays acquired UK stockbroker de Zoete & Bevan and jobbing firm Wedd Durlacher in 1986. These entities were merged with Barclays Merchant Bank to form Barclays de Zoete Wedd (BZW).

1987-06

Introduction of Barclays Connect Card

Barclays introduced the Connect card in June 1987, marking the launch of the first debit card in the United Kingdom.

1988

Barclays Sale of Barclays Bank of California to Wells Fargo

In 1988, Barclays sold Barclays Bank of California to Wells Fargo for US$125 million in cash. This move involved the transfer of the 17th-largest bank in California measured by assets.

1994

Terror Campaign by Edgar Pearce Against Barclays

In 1994, Edgar Pearce, known as the 'Mardi Gra Bomber', initiated a terror campaign against Barclays Bank and the supermarket chain Sainsbury's.

1996

Barclays Acquisition of Wells Fargo Nikko Investment Advisors

Barclays acquired Wells Fargo Nikko Investment Advisors in 1996 and merged it with BZW Investment Management to establish Barclays Global Investors. This move was overseen by Bob Diamond.

1998

Breakup of BZW Business and Formation of Barclays Capital

In 1998, the BZW business was dismantled, with the Equity and Corporate Finance Divisions being sold to Credit Suisse First Boston. Barclays retained the debt-focused Fixed Income business and Structured Capital Markets, laying the groundwork for the rebranded Barclays Capital (BarCap).

1999

Launch of Barclays.net Internet Service

In 1999, Barclays ventured into the internet service domain by launching Barclays.net. This move aligned with the trend of free ISPs during that period.

2000

Barclays Acquisition of Woolwich PLC

In August 2000, Barclays acquired Woolwich PLC, formerly the Woolwich Building Society, in a £5.4 billion deal. This acquisition led to Woolwich becoming part of the Barclays group, with the retention of the Woolwich name.

2001-10-31

Establishment of FirstCaribbean International Bank (FCIB)

Barclays and CIBC agreed to combine their Caribbean operations in 2001 to establish a joint venture company known as FirstCaribbean International Bank (FCIB), aiming to strengthen their presence in the region.

2002-04

Barclays share split

In April 2002, Barclays enacted a 4:1 share split, adjusting its stock prices and potentially attracting more investors.

2003

Acquisition of Juniper Bank and Banco Zaragozano

In 2003, Barclays bought the American credit card company Juniper Bank from CIBC and acquired Banco Zaragozano, the 11th-largest Spanish bank, expanding its international presence.

2004

Barclays sponsorship of the Premier League

Barclays took over sponsorship of the Premier League from Barclaycard in 2004, increasing its visibility and brand recognition in the sports industry.

2005-05

Relocation of Barclays headquarters and acquisition of Absa Group Limited

In May 2005, Barclays moved its group headquarters to Canary Wharf and sealed a £2.6bn takeover of Absa Group Limited, South Africa's largest retail bank, marking significant strategic moves.

2006

Acquisition of HomEq Servicing Corporation and CompareTheLoan

In 2006, Barclays purchased the HomEq Servicing Corporation and the financial website CompareTheLoan, expanding its financial services portfolio.

2007-08-30

Barclays borrows £1.6 billion from Bank of England

On August 30, 2007, Barclays was forced to borrow £1.6 billion from the Bank of England due to a technical problem with their settlement network. This borrowing was necessary as a last-resort measure when banks are unable to settle their debts.

2007-11-09

Barclays shares drop 9%

On November 9, 2007, Barclays shares dropped 9% and were temporarily suspended due to rumors of exposure to bad debts in the US. However, a Barclays spokesman denied the rumors, emphasizing the stability of the bank.

2008-01-01

Acquisition of North American operations of Lehman Brothers

In 2008, Barclays acquired the North American operations of Lehman Brothers, solidifying its presence in the financial market.

2008-09-16

Barclays announces acquisition of Lehman Brothers' North American business

On September 16, 2008, Barclays announced the agreement to purchase Lehman Brothers' North American business after the latter's bankruptcy. This acquisition marked Barclays' entry into U.S. Equities and Investment Banking.

2008-09-20

Barclays acquires core business of Lehman Brothers

On September 20, 2008, Barclays finalized the acquisition of the core business of Lehman Brothers, including its Midtown Manhattan office skyscraper. This deal solidified Barclays' presence in the financial sector.

2008-11-24

Barclays raises £7 billion from Abu Dhabi and Qatar

On November 24, 2008, Barclays raised £7 billion from investors in Abu Dhabi and Qatar as part of its capital-raising strategy. This move aimed to meet higher capital targets set by the UK's Financial Services Authority.

2009-06-12

Barclays sells iShares to BlackRock

On 12 June 2009, Barclays sold its Global Investors unit, including iShares, to BlackRock for US$13.5 billion.

2010-01-01

Barclays acquires Standard Life Bank

Barclays acquired Standard Life Bank from Standard Life in October 2009, with the sale completed on 1 January 2010.

2011

Barclays fined for mis-selling investments

In 2011, Barclays faced a fine for mis-selling high-end investments to retired individuals without fully disclosing the associated risks. This raised concerns about the bank's ethical practices.

2012-07-02

Marcus Agius resigns as Chairman of Barclays

On 2 July 2012, Marcus Agius resigned from the chairman position at Barclays following the interest rate rigging scandal.

2012-07-03

Bob Diamond resigns as Chief Executive of Barclays

On 3 July 2012, Bob Diamond resigned with immediate effect as the Chief Executive of Barclays due to the interest rate rigging scandal.

2013-07

Barclays fined for attempting to manipulate US electricity market

In July 2013, Barclays was ordered to pay a £299 million fine penalty by the Federal Energy Regulatory Commission for attempting to manipulate the electricity market in the US.

2014-02-17

Serious Fraud Office charges former Barclays employees with manipulating Libor rates

On 17 February 2014, the Serious Fraud Office charged three former Barclays employees with manipulating Libor rates between June 2005 and August 2007.

2015-05

Barclays fined for Libor rigging

In May 2015, Barclays was issued a substantial fine for rigging the interest rates known as Libor rigging. This unethical practice involved manipulating the rates that banks charge each other.

2015-06

Barclays sells US wealth and investment management business to Stifel

In June 2015, Barclays announced the sale of its US wealth and investment management business to Stifel.

2016-01-31

Barclays Settlement with New York Attorney General's Office and SEC

On January 31, 2016, Barclays settled with the New York Attorney General's office and the SEC, agreeing to pay $70 million for violating securities laws related to its dark pool trading system. The bank also agreed to have an independent monitor oversee the dark pool.

2017-06

Charges against former Barclays executives

In June 2017, former Barclays CEO and three colleagues were charged with fraud and unlawful financial assistance in connection with capital raising during the financial crisis of 2007–2008.

2018-02

Serious Fraud Office charges against Barclays

In February 2018, the Serious Fraud Office charged Barclays with unlawful financial assistance related to funds raised from the Qatar deal.

2018-12-04

Barclays Global Technology, Media and Telecommunications Conference

Barclays Global Technology, Media and Telecommunications Conference took place at The Palace Hotel in San Francisco on December 4, 2018.

2020-06-08

Accusations of deceit against Barclays by PCP Capital

On 8 June 2020, Barclays was accused of deceit by PCP Capital in a £1.5 billion lawsuit, alleging misleading the market over the terms of its capital raising deal with Qatar.

2021-10-31

Jes Staley stepping down as Barclays group CEO

On October 31, 2021, Barclays' CEO Jes Staley resigned amidst an investigation into his connections with Jeffrey Epstein. He was succeeded by C. S. Venkatakrishnan, making history as the first person of Indian descent to lead Barclays.

2022-05

Barclays increased stake in Barrenjoey Capital Partners

In May 2022, Barclays increased its stake in Barrenjoey Capital Partners from 9.9 percent to 18.2 percent.

2023-03-01

Barclays acquisition of Kensington Mortgages

On 1 March 2023, Barclays acquired specialist mortgage lender Kensington Mortgages, based in Maidenhead.

2024-02

Barclays acquisition of Tesco Bank's credit cards, loans, and savings operations

In February 2024, Barclays announced the acquisition of Tesco Bank's credit cards, loans, and savings operations.

End of the Timeline
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