The history of Barclays Bank
Barclays Bank is one of the leading operations in the UK financial sector with exposure to Europe, North America, the Middle East, Latin America, Australia, Asia and Africa. During the ongoing economic crisis Barclays Bank is one of the few UK operations to turn down state funding from the UK government which has ultimately given directors more control over the future direction of the company.
The history of Barclays Bank can be traced back to 1690 when John Feame and Thomas Gould began trading in Lombard Street London under the name of Goldsmith bankers. When James Barclay joined the operation in 1736 the name Barclays became associated with the company although it was not until 1896 that the company became known as Barclays bank. Like so many of the UK clearing banks trading today, Barclays Bank acquired many smaller operations over the years and extended its business tentacles into all areas of the UK and worldwide financial system.
The company has become embroiled in a number of controversial subjects such as aggressive investment trading, tax avoidance schemes and close relationships with large investors in the Middle East. However, despite worries regarding the UK financial sector Barclays Bank was one of the few self funding operations which was not forced to go cap in hand to the UK government. Many believe that Barclays Bank will emerge from the ongoing economic crisis as one of the stronger European and worldwide banking organisations trading today.
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