Martins Bank

Martins Bank was a London private bank, trading for much of its time under the symbol of “The Grasshopper”, that could trace its origins back to Thomas Gresham and the London goldsmiths, from which it developed into a bank known as Martin's Bank from 1890. That bank was acquired in 1918 by the Bank of Liverpool, which wanted Martins to give it a London presence and a seat on the London Bankers' Clearing House. The Martin name was retained in the title of the enlarged bank which was known as the Bank of Liverpool and Martins Limited. The title was shortened to Martins Bank Limited (without an apostrophe) in 1928 at the insistence of the directors of the Lancashire and Yorkshire Bank when it was bought by the Bank of Liverpool and Martins. The head office and managerial control remained firmly in Liverpool, cementing Martins' place as the only English national bank to have its head office outside London. It was taken over in 1969 by Barclays. History The history of Martins Bank is intertwined with the Grasshopper, the sign under which the Bank traded and was known in its early years. Tradition has it that Thomas Gresham, whose family crest included a grasshopper, founded the bank in 1563. However, although he is believed to be the first to use the sign of the Grasshopper on a goldsmith's shop in Lombard Street he does not appear to have had any connection with the Martins. Chandler states that there are differences of opinion as to when the Grasshopper became a bank and John Martin did not purchase the freehold of the Grasshopper until 1741. The Martin family were among the early London Goldsmiths. In 1558 Richard Martin was elected a liveryman of the Goldsmiths Company and later a Master of the Mint and Lord Mayor of the City of London. Successive generations of Martins ran the bank that was popularly referred to as “The Grasshopper” but the partnership went through various incarnations, including Martins, Stone and Blackwell, and Martin Stone and Foote in the eighteenth century; and Martin and Company in 1844.