Which bank was founded in 1690 by John Freame and Thomas Gould?

Barclays traces its foundation to 1690, when Quaker goldsmith-bankers John Freame and Thomas Gould began a banking business in London. The name Barclays appeared later through the involvement of Freame’s son-in-law, James Barclay.

Like several early English banks, Barclays developed from a goldsmith-banking tradition. Goldsmiths held valuables, accepted deposits, transferred funds, and made loans, combining services that later became central to commercial banking.

The company expanded through mergers and acquisitions, including the 1896 formation of Barclay and Company Limited. It became one of Britain’s major clearing banks and later developed extensive international operations.

Barclays is sometimes incorrectly described as having been founded in 1694, the year the Bank of England was established. Those are separate institutions with different origins: Barclays began as a private London banking partnership, while the Bank of England was created to lend to the English government.