About Greater Manchester
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Banking in Manchester
There are more than 60 banking
institutions in the City of Manchester, (including some 40 from overseas),
bearing witness to the boast that Manchester transacts more international
finance than any other region in the country. For example, the Bank
of England maintains its largest regional office in Manchester and the
Co-operative Bank and Davenham’s merchant bank have headquarters in
There are over 15,000 people employed in some form of banking in the
city of Manchester. Of these, the Co-operative Bank is commonly regarded
as the most “modern” of banks in the United Kingdom and it commands
respect throughout the world. It virtually dominates local authority
financing in Britain, particularly in handling accounts for secondary
and higher education.
The Co-op is regarded as a most ethical bank, and has set a standard
which the other banks are beginning to emulate.
All the major clearing banks are represented in Manchester, of which
Barclays, HSBC, NatWest and the Royal Bank of Scotland are most well
known. ABN-AMRO and the Hong Kong and Shanghai Bank are Manchester’s
two biggest overseas banks, covering the whole of Northern England and
Scotland from their Manchester offices, the former focusing on larger
companies, the latter on traders and import-exporters.
One of the two Japanese banks in the city, Fuji Bank, specialises in
financial services, and there are half a dozen merchant banks in the
city with clients nationwide.
Rothschild’s, before moving to London, began life in Manchester. The
banks arrange a wide range of services from privatisation and floatation
to commercial banking and international treasury consultancy.
Quite apart from the bigger national banks, private banks are continually
increasing in number in Manchester. In 1993 Coutts, the Royal bankers,
set up in the city and the Midland Private Bank recently announced plans
to begin operations in the North West.
* Some of the information
on this page was sourced at Wikipedia (www.wikipedia.com).
John Moss/James Sherwood –
Copyright © John Moss, Papillon Graphics AD 2013 Manchester, United Kingdom – all rights reserved.