Child's Bank
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| Subsidiary | |
| Industry | Private Banking and Wealth Management |
| Founded | 1664 |
| Headquarters | London, England |
| Products | Wealth Management, Lending and Savings |
| Parent | Royal Bank of Scotland Group |
Child & Co. is a formerly independent private bank that is now owned by The Royal Bank of Scotland Group. The Royal Bank of Scotland incorporating Child & Co., Bankers is based at 1 Fleet Street in the City of London. It is authorised as a brand of The Royal Bank of Scotland by the Prudential Regulation Authority.
Child & Co. was one of the oldest independent financial institutions in the UK, and can trace its roots back to a London goldsmith business in the late 17th century. Sir Francis Child established his business as a goldsmith in 1664, when he entered into partnership with Robert Blanchard. Child married Blanchard's stepdaughter and inherited the whole business on Blanchard's death. Renamed Child and Co, the business thrived, and was appointed the "jeweller in ordinary" to King William III.
After Child died in 1713, his three sons ran the business, and during this time, the business transformed from a goldsmith's to a fully fledged bank. The bank claims it was the first to introduce a pre-printed cheque form, prior to which customers simply wrote a letter to their bank but sent it to their creditor who presented it for payment. Its first bank note was issued in 1729.
By 1782, Child's grandson Robert Child was the senior partner in the firm. However, when he died in 1782 without any sons to inherit the business, he did not want to leave it to his only daughter, Sarah Anne Child, because he was furious over her elopement with John Fane, 10th Earl of Westmorland earlier in the year. To prevent the Earls of Westmorland from ever acquiring his wealth, he left it in trust to his daughter's second surviving son or eldest daughter. This turned out to be Lady Sarah Sophia Fane, who was born in 1785. She married George Child-Villiers, 5th Earl of Jersey in 1804, and upon her majority in 1806 she became senior partner. She exercised her rights personally until her death in 1867. At that point the Earl of Jersey & Frederick William Price of Harringay House were appointed as the two leading partners. Ownership continued in the Jersey family until the 1920s.
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Wikipedia