Barclays Bank International, formerly Barclays Bank (Dominion, Colonial & Overseas) and Barclays Bank D.C.O.
Biographical notes:
The international arm of Barclays was established by Frederick Goodenough, executive chairman of Barclays 1913-34. He conceived the idea of an Empire bank, providing retail and commercial banking along British lines throughout the sterling area and able to transfer funds through London to any part of the organization as required.
The new private subsidiary was created from three existing City-based banks acquired by Barclays, as follows:
- Colonial Bank: founded by royal charter in 1836 to trade in the West Indies, and, from 1916, empowered to extend its operations throughout the Empire. In 1917 a working agreement gave Barclays access to its markets in West Africa. Barclays secured a controlling interest in The Colonial in 1918-19
- National Bank of South Africa (NBSA): established 1891 in Transvaal (head office in Pretoria), it had absorbed banks with older roots in South Africa and had a holding in the Colonial Bank. Barclays acquired shares in NBSA from 1919
- Anglo-Egyptian Bank: founded in 1864 and acquired by Barclays in 1920, this bank had representation in Egypt, British territories in the Mediterranean, Palestine and the Sudan
In 1925 Goodenough obtained an act of parliament for the re-incorporation of the Colonial Bank which thereby changed its name to Barclays Bank (Dominion, Colonial and Overseas), a subsidiary of Barclays Bank Limited, and soon afterwards formally absorbed both the Anglo-Egyptian Bank and the National Bank of South Africa, whose complete acquisition by Barclays was part of the whole transaction.
The original structure of the three foundation banks continued to function under powers delegated by the main board (known as the central board). The South African local board was based in Johannesburg but the local boards for the Colonial Bank and Anglo-Egyptian sections were based in London.
In 1954 the title of the company was shortened to Barclays Bank DCO, diluting its imperial overtone. In 1971 it was incorporated as a wholly owned subsidiary and renamed as Barclays Bank International (usually abbreviated as BBI), to reflect the change in emphasis to world-wide banking as Barclays' representation outside the Commonwealth expanded. DCO/BBI was headquartered with Barclays Bank Limited in Lombard Street, and as well as its overseas branches had a network of offices and branches in London and the main industrial cities of England.
This structure lasted until the major reorganization of Barclays Group under the Barclays Bank Act of 1984, whereby BBI was re-registered as a public company and its business combined with that of Barclays Bank to form the present holding company (Barclays PLC), and with a new operating subsidiary (Barclays Bank PLC) taking the former company number of Barclays Bank International.
From the guide to the Barclays Bank: records of international operations: boards, chair and senior management, c1919-1985, (Barclays Group Archives (BGA))
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