Sampson Lloyd

The next generation entered the banking business, laying the foundations of the future Lloyds Bank. Until 1640 the merchants of London had left their money and valuables under Crown Protection in the Royal Mint. However when King Charles I was refused money for the army by Parliament he raided the merchants’ bullion and 'borrowed' £150,000. The merchants then turned to the goldsmiths and their strongrooms as a safer place to keep their gold. The notes that they were given became forerunners of bank notes. Quakers, regarded as honest and trustworthy, were ideally placed to become custodians of the gold, first as goldsmiths, and later as bankers.

In 1765 Sampson Lloyd II, son of Sampson I, entered the banking business, as a partner of  button-maker John Taylor, in a bank called Taylor and Lloyd.  Each of the partners introduced a son into the business.  There was no legal documentation concerning the partnership as it was based on Quaker trust. Sampson Lloyd II was prominent in the day to day running of the bank.  He was joined by his stepbrother Charles who had learnt his banking skills at the bank called Freame, Barclay, Freame and Co.  His sister had married Charles Barclay, one of the partners.

In 1770 Osgood Hanbury, who was Sampson Lloyd II’s son-in-law, founded a bank in London named Hanbury, Taylor, Lloyd, and Bowman, and Sampson Lloyd II's son (Sampson III), and John Taylor junior, became partners. This became the London partner of the prosperous Taylors and Lloyds bank in Birmingham. Source