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Encyclopedia > Midland Bank

The Midland Bank (now part of HSBC) opened as the Birmingham and Midland Bank in Union Street, Birmingham, England in August 1836. The bank expanded in the Midlands, absorbing many local banks, and merged with the Central Bank of London Ltd. in 1891, becoming the London City and Midland Bank. After a period of nationwide expansion including the acquisition of many smaller banks, the name Midland Bank Ltd. was adopted in 1923. By 1934 it was the largest deposit bank in the world. In 1992 it was taken over by the London-based HSBC Holdings PLC. HSBC Holdings PLC (匯豐控股有限公司) (NYSE: HBC, LSE: HSBA, HKEx: 005, Euronext: HSBC) is one of the largest banking groups in the world. ... The city from above Centenary Square. ... Royal motto (French): Dieu et mon droit (Translated: God and my right) Englands location within the British Isles Official language English de facto Capital London de facto Largest city London Area – Total Ranked 1st UK 130,395 km² Population – Total (mid-2004) – Total (2001 Census) – Density Ranked 1st UK... August is the eighth month of the year in the Gregorian Calendar and one of seven Gregorian months with the length of 31 days. ... 1836 was a leap year starting on Friday (see link for calendar). ... A bank is an institution that provides financial service, particularly taking deposits and extending credit. ... In general, the midlands of a territory are its central regions. ... 1891 was a common year starting on Thursday (see link for calendar). ... 1923 (MCMXXIII) was a common year starting on Monday (link will take you to calendar). ... 1934 (MCMXXXIV) was a common year starting on Monday (link will take you to calendar). ... 1992 (MCMXCII) was a leap year starting on Wednesday. ... London is the capital city of the United Kingdom and of England. ... HSBC Holdings PLC (匯豐控股有限公司) (NYSE: HBC, LSE: HSBA, HKEx: 005, Euronext: HSBC) is one of the largest banking groups in the world. ...


The Midland Bank was one of the UK's largest banks, it was famous for its golden griffin logo surrounded by golden dots on a blue background, and for its slogan "the listening bank". Advertisements for the Midland Bank appeared in the popular Theme Park computer game. The Midland Bank plc was rebranded as HSBC Bank plc in 1999 as part of the adoption of the HSBC brand thoughout the group. Roman griffin, Turkey The griffin (also spelled gryphon, gryphen, griffon, griffen, or gryphin) is a legendary creature with the body of a lion and the head of an eagle with the addition of prominent ears, traditionally termed asss ears. The female has the wings of an eagle. ... Theme Park Theme Park is a simulation computer game designed by Bullfrog Productions, released in 1994, in which the player designs and operates an amusement park. ... In the United Kingdom, HSBC is a Clearing Bank and is one of the Big 4 high street banks. ...

Contents


History of The Midland Bank Birmingham

Midland Bank opened for business in Union Street, Birmingham, England, in August 1836 and was the inspiration of its first manager, Charles Geach. Having left a secure appointment at the Bank of England to take up the challenge of commercial banking, Geach had the business support and capital backing of leading merchants and manufacturers in Birmingham. The town and its region were the homeland of the Industrial Revolution and the new bank began business in a thriving but highly competitive local economy. In the 1830s and 1840s, Midland occupied an important niche in Birmingham business, particularly in the discounting of bills of exchange for its customers. Links with local industrial and commercial concerns were especially strong and, by the 1850s, the bank’s customers included railways, iron founders and engineering concerns, utilities and municipal corporations. Midland established its first branches by acquiring utilities and municipal corporations like Stourbridge Old Bank in 1851 and Nichols, Bakerand Crane of Bewdley in 1862. Both firms had been pioneers of banking in the West Midlands: the origins of the Stourbridge bank can be traced back to 1762 and the Bewdley bank dated from 1777. The city from above Centenary Square. ... Royal motto (French): Dieu et mon droit (Translated: God and my right) Englands location within the British Isles Official language English de facto Capital London de facto Largest city London Area – Total Ranked 1st UK 130,395 km² Population – Total (mid-2004) – Total (2001 Census) – Density Ranked 1st UK... 1836 was a leap year starting on Friday (see link for calendar). ... The Bank of England is the central bank of the United Kingdom, sometimes known as The Old Lady of Threadneedle Street or The Old Lady. The nearest London Underground station, and thus a busy commuter stop, is Bank station. ... The Industrial Revolution was the major technological, socioeconomic and cultural change in the late 18th and early 19th century resulting from the replacement of an economy based on manual labour to one dominated by industry and machine manufacture. ... // Events and Trends Electromagnetic induction discovered by Michael Faraday Dutch-speaking farmers known as Voortrekkers emigrate northwards from the Cape Colony Croquet invented in Ireland Railroad construction begins in earnest in the United States Egba refugees fleeing the Yoruba civil wars found the city of Abeokuta in south-west Nigeria... // Events and Trends Technology First use of anaesthesia in an operation, by Crawford Long War, peace and politics First signing of the Treaty of Waitangi (Te Tiriti o Waitangi) on February 6, 1840 at Waitangi New Zealand. ... // Events and Trends Technology Production of steel revolutionised by invention of the Bessemer process Benjamin Silliman fractionates petroleum by distillation for the first time First transatlantic telegraph cable laid First safety elevator installed by Elisha Otis Science Charles Darwin publishes The Origin of Species, putting forward the theory of evolution... Map sources for Stourbridge at grid reference SO8883 Stourbridge is a town in the West Midlands, England, which in 1991 had a population of 54,661. ... 1851 was a common year starting on Wednesday (see link for calendar). ... 1862 was a common year starting on Wednesday (see link for calendar). ... The West Midlands is a geographical term describing the western half of central England, known as the Midlands. ... Map sources for Stourbridge at grid reference SO8883 Stourbridge is a town in the West Midlands, England, which in 1991 had a population of 54,661. ... 1762 was a common year starting on Friday (see link for calendar). ... Load Street, Bewdley Bewdley is a small town in Worcestershire, England. ... 1777 was a common year starting on Wednesday (see link for calendar). ...


Acquisitions and development in its first 50 years

Midland steadily enlarged its business in Birmingham and the surrounding region. From the 1880s, it expanded its customer base by opening new branches and by acquiring other banks. Its most important initiative was the decision to move into the wider national market. This was achieved in 1891 by the acquisition of the Central Bank of London (which gave Midland a seat in the London Clearing House) and, in 1898, by taking over the City Bank (which provided a London head office). By 1918, with deposits of £335 million, it ranked as the largest bank in the world. The key figure in this remarkable advance was Edward Holden, Managing Director from 1898 to 1908 and Chairman and Managing Director from 1908 until his death in 1919. He oversaw more than 20 bank amalgamations between 1891 and 1918, and opened new branches throughout England and Wales. Holden also encouraged the development of Midland’s international business; it was the first British bank to set up a foreign exchange department and, by 1919, it was acting as London bank to some 650 correspondent banks throughout the world. From 1907, these correspondents included The Hongkong and Shanghai Banking Corporation. After the First World War, the leading British banks entered an agreement with the government that they would not attempt further amalgamations without Treasury approval. As a result, Midland turned its attention to expanding its branch network, adding new banking services, mechanising its systems (from 1928) and advertising its activities. // Events and Trends Technology Development and commercial production of electric lighting Development and commercial production of gasoline-powered automobile by Karl Benz, Gottlieb Daimler and Maybach First commercial production and sales of phonographs and phonograph recordings. ... The City Bank was an early bank in Ontario in the 19th Century and merged with Royal Canadian Bank to form Consolidated Bank of Canada in 1876. ... London is the capital city of the United Kingdom and of England. ... For an explanation of often confusing terms such as Great Britain, Britain, United Kingdom and England, see British Isles (terminology). ... Foreign exchange has several meanings: In telecommunications, Foreign exchange service is a type of network service. ... London is the capital city of the United Kingdom and of England. ... HSBC Holdings PLC (NYSE: HBC), (LSE: HSBA) , (HKSE: 005) , (Euronext: HSBC) , is one of the largest banking groups in the world. ... Combatants Entente Powers Central Powers Commanders {{{commander1}}} {{{commander2}}} Strength {{{strength1}}} {{{strength2}}} Casualties > 5 million military deaths > 3 million military deaths World War I, also known as the First World War and (before 1939) the Great War, the War of the Nations, War to End All Wars was a world conflict...


Post-war recovery and international alliances

The ending of credit restrictions in 1958 brought renewed competition into British banking. Midland responded by extending its branch network and by introducing a series of innovative services, including personal loans (1958), personal cheque accounts (1958) and cheque cards (1966).At the same time, the bank diversified its interests away from traditional commercial banking. Forward Trust, which was acquired in 1958, emerged as a leader in instalment finance, leasing and factoring services. Midland’s purchase in 1967 of a share in Montagu Trust, the owner of Samuel Montagu & Co. Limited, was the first association between a British clearing bank and a London merchant bank. Samuel Montagu, with its own distinguished history dating back to 1853, became a wholly owned subsidiary in 1974 and is now part of HSBC's private banking business. Further diversification followed in 1972, when Midland was the leading member of the consortium that acquired the Thomas Cook travel business. After becoming sole owner in 1977, Midland sold its interest in 1992, but the link is maintained by offering Thomas Cook services through the bank’s branch network. Until 1974, Midland’s overseas business relied upon its traditional links with correspondent banks and, in the 1960s, membership of a number of consortia of European and international banks. From 1974, the emphasis switched, first to opening branches or representative offices in the major financial centres of the world and, second, to acquiring international subsidiaries. Of these initiatives, the purchase of a majority share in Crocker National of California, USA, in 1981 proved to be a serious setback to Midland’s fortunes. After a series of heavy losses by the Californian bank, Midland took full ownership in 1985 and then sold Crocker to Wells Fargo the following year. 1958 (MCMLVIII) was a common year starting on Wednesday of the Gregorian calendar. ... 1853 was a common year starting on Saturday (see link for calendar). ... HSBC Holdings PLC (匯豐控股有限公司) (NYSE: HBC, LSE: HSBA, HKEx: 005, Euronext: HSBC) is one of the largest banking groups in the world. ... This article does not cite its references or sources. ... For the album by Ash, see 1977 (album). ... 1992 (MCMXCII) was a leap year starting on Wednesday. ... 1974 (MCMLXXIV) is a common year starting on Tuesday (click on link for calendar). ... Official language(s) English Capital Sacramento Largest city Los Angeles Area  - Total  - Width  - Length  - % water  - Latitude  - Longitude Ranked 3rd 410,000 km² 402. ... 1981 (MCMLXXXI) is a common year starting on Thursday of the Gregorian calendar. ... This article is about the year. ... Wells Fargo NYSE: WFC is a financial services company in the United States with consumer finance subsidiaries doing business in Canada, the Northern Mariana Islands and the Caribbean. ...


Midland Bank enjoyed greater success with investment in Germany, where the focus of activity was Trinkaus & Burkhardt KGaA, a private bank with a long history of its own. In 1785, Christian Gottfried Jaeger founded a trading company in Düsseldorf, which eventually passed to his nephew, Christian Gottfried Trinkaus. Trinkaus developed the firm into a bank and gave it his own name. In 1972, C G Trinkaus merged with the banking house Burkhardt & Co, which had been founded in Essen in 1841, and operations were extended to Luxembourg and Switzerland. Midland Bank acquired a controlling interest in 1980 and, today, as HSBC Trinkaus & Burkhardt KGaA, the company enjoys a leading position in both commercial and investment banking. Through the acquisition of Samuel Montagu & Co, Midland had also gained a majority share in Guyerzeller Bank AG (now HSBC Guyerzeller Bank AG) in Switzerland. 1785 was a common year starting on Saturday (see link for calendar). ... Düsseldorf is the capital city of the German Federal State of North Rhine-Westphalia and (together with Cologne) the economic center of Northwestern Germany. ... 1972 (MCMLXXII) was a leap year that started on a Saturday. ... Essen is a city in North Rhine-Westphalia, Germany. ... take you to calendar). ... 1980 (MCMLXXX) was a leap year starting on Tuesday. ... HSBC Trinkaus & Burkhardt KGaA was founded in 1785 and is one of the longest-established members of the HSBC Group. ...


Midland joins the HSBC Group

The Hongkong and Shanghai Banking Corporation acquired a 14.9 per cent equity interest in Midland Bank in 1987, and a strong working relationship developed. The most important innovation during this period was the launch of First Direct in 1989. First Direct pioneered the revolutionary concept of telephone banking, with a person-to-person service available 24 hours a day, 365 days a year. It now offers internet banking as well and serves more than one million customers. First Direct is today the most recommended bank in the United Kingdom. In 1992, HSBC Holdings plc acquired full ownership of Midland Bank. It was one of the largest acquisitions in banking history, giving HSBC the major foothold in Europe that it needed to complement its existing business in Asia and the Americas. Midland Bank plc was renamed HSBC Bank plc in 1999 as part of the adoption of the HSBC brand throughout the Group. HSBC Holdings PLC (NYSE: HBC), (LSE: HSBA) , (HKSE: 005) , (Euronext: HSBC) , is one of the largest banking groups in the world. ... 1987 (MCMLXXXVII) is a common year starting on Thursday of the Gregorian calendar. ... Logo First Direct is a telephone and internet based commercial bank in the United Kingdom, a division of HSBC Bank. ... 1989 (MCMLXXXIX) is a common year starting on Sunday of the Gregorian calendar. ... Logo First Direct is a telephone and internet based commercial bank in the United Kingdom, a division of HSBC Bank. ... Online banking (Internet banking) is a term used for performing transactions, payments etc. ... Logo First Direct is a telephone and internet based commercial bank in the United Kingdom, a division of HSBC Bank. ... 1992 (MCMXCII) was a leap year starting on Wednesday. ... World map showing Europe Europe is conventionally considered one of the seven continents which, in this case, is more a cultural and political distinction than a physiogeographic one. ... World map showing Asia. ... World map showing the Americas The Americas commonly refers to the landmass in the Western Hemisphere consisting of the continents of North America and South America with their associated islands. ... In the United Kingdom, HSBC is a Clearing Bank and is one of the Big 4 high street banks. ...


  Results from FactBites:
 
Midland Bank - Wikipedia, the free encyclopedia (1255 words)
The Midland Bank was one of the UK's largest banks, it was famous for its golden griffin logo surrounded by golden dots on a blue background, and for its slogan "the listening bank".
Midland’s purchase in 1967 of a share in Montagu Trust, the owner of Samuel Montagu and Co. Limited, was the first association between a British clearing bank and a London merchant bank.
Midland Bank plc was renamed HSBC Bank plc in 1999 as part of the adoption of the HSBC brand throughout the Group.
HSBC - Wikipedia, the free encyclopedia (2674 words)
It is the largest bank in Hong Kong, and at the end of 2004 it was the third largest banking group in the world by Tier 1 capital [4].
Midland Bank purchased a stake in Banco Roberts SA in 1987, in 1997 HSBC took full control of the bank and rebranded it HSBC.
The Mercantile Bank was acquired in 1959 by HSBC.
  More results at FactBites »


 

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