 | |
| Company type | Public |
|---|---|
| Industry | Banking |
| Founded | 1832 |
| Defunct | 1995 |
| Fate | Acquired |
| Successor | Lloyds Banking Group |
| Headquarters | London, UK |
Hill Samuel is a wholly owned subsidiary of Lloyds Banking Group's Offshore Private Banking unit. It was formerly a leading British merchant bank and financial services firm before the takeover by TSB Group Plc. in 1987, which itself merged with Lloyds Bank to become Lloyds TSB in 1995.
In 1832, Marcus Samuel founded the company M. Samuel & Co. near the Tower of London to import goods from the Far East. It started with seashells, later extending its trading business to rice and general produce on a grand scale. [1] By the middle of the 19th century the company expanded further into the re-exporting business, importing goods worldwide and re-exporting them to Europe and North America. [2]
Recognising the opportunities offered by the emerging rise of the oil industry, in the 1880s Marcus shipped case oil from Russian oil fields to Japan such that by 1888 that he was able to commission his own ships for bulk oil transportation. His first ship, the 'Murex', was the first tanker to pass through the Suez Canal in 1892 and this division of the company exists today as the Royal Dutch Shell Company; originally named the Shell Transport and Trading Company after the popular imports of sea shells of the time. [3] [4]
Hill Samuel & Co. Limited was created in 1965 by the merger of M. Samuel & Co. and Philip Hill, Higginson, Erlanger's Limited (the founders of which included Frédéric Émile d'Erlanger). On the 10 December 1969, Hill Samuel Australia Limited opened its doors in Sydney with a staff of three executives. Offering a range of financial services and products with the expertise and fame of its parent company, Hill Samuel Australia began to win significant mandates. Following a proposal to the Australian Federal Government in 1985, Macquarie Bank Limited was established in February of that year as part of the restructure of Hill Samuel Australia as an independent trading bank. These small steps have led Macquarie Bank to be one of the most successful diversified provider of financial products originating in Australia. [5]
The bank decided to enter the UK securities market buying Wood MacKenzie, a stockbroker, in June 1984. [6]
Before the merger with TSB Group Plc., Hill Samuel's 1987 Pre-tax profits were primarily of consisted of merchant banking (50%); as well as investment management services (27%); employee benefit services (13%); and insurance (6%). [7]
In 1987, Hill Samuel had suspended trading in its shares on the London Stock Exchange amid signs that it would accept a merger bid from the Union Bank of Switzerland, as the two groups began takeover talks in July. [8] However, by October of that year a final successful takeover bid was made by the TSB Group Plc., one of the United Kingdom's largest retail banks at the time. [9]
By 1995, the merger of TSB Group and Lloyds Bank led Hill Samuel to become a subsidiary of Lloyds TSB, now restructured and renamed as Lloyds Banking Group. [10]
The Bank of Scotland plc is a commercial and clearing bank based in Edinburgh, Scotland, and is part of the Lloyds Banking Group. The bank was established by the Parliament of Scotland in 1695 to develop Scotland's trade with other countries, and aimed to create a stable banking system in the Kingdom of Scotland. The bank is the ninth oldest bank in continuous operation.
The Financial Times Stock Exchange 100 Index, also called the FTSE 100 Index, FTSE 100, FTSE, or, informally, the "Footsie", is the United Kingdom's best-known stock market index of the 100 most highly capitalised blue chip companies listed on the London Stock Exchange.
Banco de Sabadell, S.A. is a Spanish multinational financial services company headquartered in Alicante and Barcelona, Spain. It is the 4th-largest Spanish banking group. It includes several banks, brands, subsidiaries and associated banks. It is a universal bank and specialises in serving small and medium enterprises (SMEs) and the affluent with a bias towards international trade.
Lloyds Bank plc is a British retail and commercial bank with branches across England and Wales. It has traditionally been considered one of the "Big Four" clearing banks. Lloyds Bank is the largest retail bank in Britain, and has an extensive network of branches and ATMs in England and Wales and offers 24-hour telephone and online banking services.
The Trustee Savings Bank (TSB) was a British financial institution that operated between 1810 and 1995 when it was merged with Lloyds Bank. Trustee savings banks originated to accept savings deposits from those with moderate means. Their shares were not traded on the stock market but, unlike mutually held building societies, depositors had no voting rights; nor did they have the power to direct the financial and managerial goals of the organisation. Directors were appointed as trustees on a voluntary basis. The first trustee savings bank was established by Rev. Henry Duncan of Ruthwell in Dumfriesshire for his poorest parishioners in 1810, with its sole purpose being to serve the local people in the community. Between 1970 and 1985, the various trustee savings banks in the United Kingdom were amalgamated into a single institution named TSB Group plc, which was floated on the London Stock Exchange. In 1995, the TSB merged with Lloyds Bank to form Lloyds TSB, at that point the largest bank in the UK by market share and the second-largest by market capitalisation.
Marcus Samuel, 1st Viscount Bearsted,, known as Sir Marcus Samuel between 1898 and 1921 and subsequently as The Lord Bearsted until 1925, was a Lord Mayor of London and the founder of the Shell Transport and Trading Company, which was later restructured including a Netherlands-based company commonly referred to as Royal Dutch Shell.
Maarten Albert van den Bergh is a Dutch businessman.
Evercore Inc., formerly known as Evercore Partners, is a global independent investment banking advisory firm founded in 1995 by Roger Altman, David Offensend, and Austin Beutner. The firm has advised on over $4.7 trillion of merger, acquisition, and restructuring transactions since its founding. Evercore is widely considered one of the most prestigious and elite investment banking advisory firms.
Sir Peter Alexander Burt FRSE was a Scottish businessman, former chief executive and later governor of the Bank of Scotland.
The Lloyds TSB Act 1998 is a local act of the United Kingdom Parliament, to provide for the transfer to and vesting in Lloyds Bank plc of the undertakings of TSB Bank plc and Hill Samuel Bank Limited ; and for connected purposes.
Macquarie Group Limited is an Australian global financial services group. Headquartered and listed in Australia, Macquarie employs more than 20,000 staff in 34 markets, is the world's largest infrastructure asset manager and Australia's top ranked mergers and acquisitions adviser, with more than A$871 billion in assets under management.
HBOS plc is a banking and insurance company in the United Kingdom, a wholly owned subsidiary of the Lloyds Banking Group, having been taken over in January 2009. It was the holding company for Bank of Scotland plc, which operated the Bank of Scotland and Halifax brands in the UK, as well as HBOS Australia and HBOS Insurance & Investment Group Limited, the group's insurance division.
Lloyds Banking Group plc is a British financial institution formed through the acquisition of HBOS by Lloyds TSB in 2009. It is one of the UK's largest financial services organisations, with 30 million customers and 65,000 employees. Lloyds Bank was founded in 1765 but the wider Group's heritage extends over 320 years, dating back to the founding of the Bank of Scotland by the Parliament of Scotland in 1695.
NBNK Investments plc was a UK-based financial investment company formed by Lord Levene and a consortium of senior business figures in 2010. The aim of the company was to build a new large UK retail bank primarily through the acquisition of other banks.
Cheltenham & Gloucester plc (C&G) was a mortgage and savings provider in the United Kingdom, a subsidiary of Lloyds Banking Group. C&G specialised in mortgages and savings products. Previously, C&G was a building society, the Cheltenham and Gloucester Building Society. Its headquarters were in Barnwood, Gloucester, Gloucestershire, England. C&G was closed to new mortgage and savings business on 9 September 2013.
TSB Bank plc is a British retail and commercial bank based in Edinburgh, Scotland. It has been a subsidiary of Sabadell Group since 2015.
Lloyds Bank International is a wholly owned subsidiary of Lloyds Bank Corporate Markets in the United Kingdom, which is in turn part of Lloyds Banking Group, one of the largest banking groups in Europe.
Virgin Money UK plc, previously known as CYBG plc, is a holding company that owns Clydesdale Bank plc, which in turn trades as Clydesdale Bank, Yorkshire Bank and Virgin Money in the United Kingdom. It was formed as CYBG plc by National Australia Bank (NAB) in February 2016, in advance of the divestment of its UK business through a stock market flotation. It is listed on the London Stock Exchange and Australian Securities Exchange; it is also a constituent of the FTSE 250 Index.
