Bank of Wales
Encyclopedia
The Bank of Wales was a bank based in Cardiff
Cardiff
Cardiff is the capital, largest city and most populous county of Wales and the 10th largest city in the United Kingdom. The city is Wales' chief commercial centre, the base for most national cultural and sporting institutions, the Welsh national media, and the seat of the National Assembly for...

, Wales
Wales
Wales is a country that is part of the United Kingdom and the island of Great Britain, bordered by England to its east and the Atlantic Ocean and Irish Sea to its west. It has a population of three million, and a total area of 20,779 km²...

, founded by Sir Julian Hodge
Julian Hodge
Sir Julian Hodge was a London-born entrepreneur and banker who lived in Wales for most of his life, from the age of five. He formed the Bank of Wales , and later the Julian Hodge Bank in Cardiff.- Background and beginnings :As the son of a plumber, he came from humble beginnings...

 in 1971. The company provided commercial banking services to small and medium-sized businesses in Wales.

From the outset Sir Julian Hodge wanted the company to be called the Bank of Wales, but the compromise title Commercial Bank of Wales (Welsh: Banc Masnachol Cymru) was adopted following objections from the Registrar of Companies and the Bank of England
Bank of England
The Bank of England is the central bank of the United Kingdom and the model on which most modern central banks have been based. Established in 1694, it is the second oldest central bank in the world...

, who claimed that the proposed name would imply a central bank
Central bank
A central bank, reserve bank, or monetary authority is a public institution that usually issues the currency, regulates the money supply, and controls the interest rates in a country. Central banks often also oversee the commercial banking system of their respective countries...

. The company was eventually officially renamed Bank of Wales in December 1986. By the year 2000 it had seven regional offices and assets of over £460 million.

The bank was taken over by the Bank of Scotland
Bank of Scotland
The Bank of Scotland plc is a commercial and clearing bank based in Edinburgh, Scotland. With a history dating to the 17th century, it is the second oldest surviving bank in what is now the United Kingdom, and is the only commercial institution created by the Parliament of Scotland to...

 in 1988 and ceased trading under the Welsh brand in 2002. In 2009, Geraint Talfan Davies
Geraint Talfan Davies
Geraint Talfan Davies is chairman and one of the co-founders of the Institute of Welsh Affairs, an independent Welsh think-tank. He is also chairman of Welsh National Opera...

, chairman of the Institute of Welsh Affairs
Institute of Welsh Affairs
The Institute of Welsh Affairs is an independent, membership-based think-tank based in the capital of Wales, Cardiff, owing no allegiance to any political or economic interest group...

, said that the banking crisis showed the need for the revival of the brand.

See also

  • Julian Hodge Bank
    Julian Hodge Bank
    Julian Hodge Bank is a small commercial bank in the United Kingdom. It is named after Sir Julian Hodge. The bank was formed in 1987, and is headquartered in Cardiff, Wales, the only independent bank headquartered in Wales...

  • Sir Alun Talfan Davies
    Alun Talfan Davies
    Sir Alun Talfan Davies QC was a Welsh lawyer, writer and publisher, the brother of Aneirin Talfan Davies.He was born at Gorseinon near Swansea, brought up a Presbyterian, and educated at Gowerton grammar school. He read Law at the University of Wales, Aberystwyth, and at Gonville and Caius...

     - former Chairman
  • Viscount Tonypandy - Chairman 1985-1991 http://arcw.llgc.org.uk/anw/get_collection.php?inst_id=1&coll_id=441&expand=
  • James Callaghan
    James Callaghan
    Leonard James Callaghan, Baron Callaghan of Cardiff, KG, PC , was a British Labour politician, who was Prime Minister of the United Kingdom from 1976 to 1979 and Leader of the Labour Party from 1976 to 1980...

     - former Prime Minister
    Prime minister
    A prime minister is the most senior minister of cabinet in the executive branch of government in a parliamentary system. In many systems, the prime minister selects and may dismiss other members of the cabinet, and allocates posts to members within the government. In most systems, the prime...

     of the United Kingdom
    United Kingdom
    The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...

    and non-executive director of the Bank

External links

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