Drummonds Bank facts for kids
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| Division | |
| Industry | Private banking |
| Founded | 1717 |
| Headquarters | 49 Charing Cross London SW1A 2DX |
| Products | Wealth management |
| Parent | Royal Bank of Scotland |
Messrs Drummond is a very old private bank from the United Kingdom. It is now part of the NatWest Group. The main office for Drummonds is at 49 Charing Cross in central London. The Prudential Regulation Authority allows Drummonds to operate as a brand of The Royal Bank of Scotland.
Contents
The Story of Drummonds Bank
How Drummonds Started
A goldsmith named Andrew Drummond started this bank in 1717. A goldsmith used to be someone who worked with gold, but they also often acted like bankers. The bank stayed in the Drummond family for a very long time, until 1924. After that, it became known as the Drummonds Branch of the Royal Bank of Scotland. This was the first time the Royal Bank of Scotland bought a bank in England.
Changes Over Time
In 1992, another bank branch called RBS Holt's joined with Drummonds. Today, it still operates as Holt's Military Banking. This part of the bank is in Farnborough. It offers special banking services for officers in the navy, army, and air force. Around the same time, the Royal Bank of Scotland brought Drummonds back as a special bank for private clients.
The Bank's Home
Drummonds has been in its main building since 1760. Before that, a large house called Naunton House was on the site. In 1758, the land was bought to make the street wider. The extra land was then sold to Drummonds. The building was rebuilt between 1877 and 1881. This building is considered important and is listed as Grade II on the Historic England register.
Helping Clients with Money
Drummonds helps its private clients manage their money and investments. This is called wealth management. The bank even created a special team just for people who won the UK National Lottery!
Who Banks at Drummonds?
Keeping Secrets
Like most private banks in London, Drummonds keeps its clients' names a secret. This is a long-standing tradition. However, some famous people who banked there in the past have been revealed.
Famous Clients
Many important people have banked at Drummonds. These include King George III and other members of the royal family. Other well-known clients were the poet Alexander Pope and Prime Minister Benjamin Disraeli. Famous artists like Thomas Gainsborough and architects like Robert and James Adam also used Drummonds. The bank also holds accounts for groups like the Conservative Party and the Royal Academy.
Kings and Queens as Clients
Both Drummonds and another bank called Coutts & Co. have served the royal family. King George III moved his bank account to Drummonds because he was unhappy with Coutts. Coutts had lent money to the Prince of Wales from the King's personal account. Drummonds did what the King wanted. But when the Prince of Wales became King George IV in 1820, he moved the royal account back to Coutts. Later, Queen Elizabeth The Queen Mother also banked at Drummonds. She was distantly related to the family who started the bank.
See also
- Child & Co.
- Holt's Military Banking
- Coutts & Co.
